TIDMGDP
RNS Number : 2918W
Goldplat plc
17 August 2022
G ol dp lat plc / Ti cker: GDP / Index: AIM / Secto r: M in i ng
& E x p l o rati on
17 August 2022
Goldplat plc
( 'Goldplat', t he 'Group' or 'the Company ')
4(th) quarter operating results update
for the period ended 30 June 2022
G ol dp lat pl c, the AIM li sted g o ld p r o ducer, w ith
internati onal g o ld reco very o perati ons l o cated in South Afr
i ca and Ghana, is p leased to announce an operational update for
the 4(th) quarter, ended 30 June 2022 ("Q4").
The two recovery operations continued a strong combined
operating performance from the previous quarter and achieved a
combined operating profit for the quarter of GBP1,973,000 which
represents a 83% increase compared with Q4 in the previous period
(Q4, 30 June 2021 - GBP1,080,000).
The combined operating profit for the operating entities for 12
months ended 30 June 2022 increased by 51% to GBP7,996,000 (12
months ended 30 June 2021 - GBP5,300,000).
This quarter's strong numbers were supported by increased
operating performance in South Africa of GBP1,245,000 (Q4, 30 June
2021 - GBP350,000), whilst Ghana achieved steady operational
results of GBP728,000 (Q4, 30 June 2021 - GBP729,000).
The following have contributed to the excellent Q4 operating
results:
Ghana
-- We have remained focused on increasing our value offering to
clients in the processing of other types of by-products and have
increased our client base in Ghana as a result. This, together with
good volumes from current clients in Ghana, supported the operating
results for Q4.
-- We maintain our engagement with governments and mines in the
ECOWAS ("The Economic Community of West African States") to agree
processes and controls on the export of gold bearing products and
remain encouraged by the value we have identified that we can offer
in these countries.
-- We continue with our expansion into South America on a
measured basis, with limited capital allocated as yet.
South Africa
-- The strong operational profits for South Africa during the
quarter continue to be supported by good production through our
circuits, specifically gravity concentrators, and increased gross
profit realised on the sales of material processed during the
previous quarters. We are also seeing profits being supported by
services in and production of platinum group metals ("PGM's").
-- The construction of our PGM plant was completed during the
quarter at cost of GBP300,000 and we have continued production of
PGMs, whilst the commissioning of the flotation plan has been
ongoing. This will increase the flexibility in material we can
process and will enable us to further develop our PGM recovery
business.
-- As announced on the 16(th) of June, T he Department of Water
and Sanitation of the Republic of South Africa ('DWS') has
authorised the water use in South Africa, which include the
disposal of tailings on our new tailings storage facility ('TSF').
We are currently engaging with the DWS on certain conditions
stipulated in the license, but on current indications, we estimate
that the TSF will cost a further GBP 650,000, GBP 300,000 more than
originally planned. Of the GBP 650,000, GBP 300,000 has been
incurred during Q4.
-- Once commissioned, tailings will be deposited in the new TSF.
Subject to approvals and the installation of a pipeline, tailings
held in the old TSF will be reprocessed at a third-party facility
to recover an estimated 82,000 ounces of gold (Table 1).
Our cash balances in the group remained strong at GBP3,672,000
at the end of Q4 ( Q4, 30 June 2021, GBP3,110,000).
Werner Klingenberg, CEO of Goldplat commented: "I am pleased to
see the continued year-on-year strong operational numbers produced
by the recovery operations, with this being the third year it has
produced, at fluctuating gold prices, a combined operating profit
above GBP5,000,000. We continue to invest time into identifying
different methods to process materials containing various elements
and building relationships in different jurisdictions, which has
broadened the pipeline of potential projects going forward,
including the processing of the tailings facility which should add
a further revenue stream to the business in future."
For further i n fo rmat i on v i s it www .g o ld p lat.com, f o
l l ow on Twitter @GoldPlatPlc or contact:
Werner Klingenberg Goldplat plc Tel: +27 (0) 82 051 1071
(CEO)
Colin Aaronson / George Grant Thornton UK LLP Tel: +44 (0) 20 7383
Grainger / Samuel Littler (Nominated Adviser) 5100
Jessica Cave / Andrew WH Ireland Limited Tel: +44 (0) 207 220
de Andrade (Broker) 1666
Tim Thompson / Mark Edwards Flagstaff Strategic and Tel: +44 (0) 207 129
/ Fergus Mellon Investor Communications 1474
goldplat@flagstaffcomms.com
The information contained within this announcement is deemed to
constitute inside information as stipulated under the retained EU
law version of the Market Abuse Regulation (EU) No. 596/2014 (the
"UK MAR") which is part of UK law by virtue of the European Union
(Withdrawal) Act 2018. The information is disclosed in accordance
with the Company's obligations under Article 17 of the UK MAR. Upon
the publication of this announcement, this inside information is
now considered to be in the public domain.
Table 1
Mineral Resource Estimate of the Tailings Storage Facility,
South Africa
Total Resource
Domain Class Tonnes Density Au (g/t) Au (Oz) U(3) O(8) U(3) O(8) Ag (g/t) Ag (Oz)
(Mil) (g/t) (lbs)
----------- ------------ -------- --------- -------- ----------- ----------- --------- --------
TOTAL
RESOURCE Measured 0.87 1.32 1.82 50,907 61.41 117,754 4.85 135,573
----------- ------------ -------- --------- -------- ----------- ----------- --------- --------
Indicated 0.49 1.37 1.77 27,897 59.73 64,506 4.71 74,165
------------------------- ------------ -------- --------- -------- ----------- ----------- --------- --------
Inferred 0.07 1.30 1.4 3,154 71.40 11,016 2.82 6,356
------------------------- ------------ -------- --------- -------- ----------- ----------- --------- --------
Grand Total 1.43 1.34 1.78 81,959 61.32 193,276 4.70 216,094
------------ -------- --------- -------- ----------- ----------- --------- --------
The Tailings Mineral Resource Estimate was announced in
accordance with the JORC Code (2012) in a press release on 29
January 2016. Mark Austin of Applied Geology & Mining (Pty)
Ltd. was the Competent Person responsible for that announcement.
The Company confirms that all material assumption and technical
parameters underpinning the Resource Estimate continue to apply and
have not materially changed.
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END
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August 17, 2022 02:00 ET (06:00 GMT)
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