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Goldplat plc Pleased with continued profitable production in South Africa

Goldplat plc (LON: GDP), the AIM listed gold producer, with international gold recovery operations based in South Africa and Ghana and a gold mine in Kenya, has today announced an operational update for the three months ended 31 March 2019.

Overview

  • 7,078 ounces of gold and gold equivalents was sold and transferred during the Quarter, compared to 6,751 ounces during the 3rd Quarter of 2018.
  • The production in South Africa during the Quarter was as per plan and progress continues to be made in building the greater West African market.

Gold Equivalent Ounces
for the month period ending 31 March 2019

Goldplat Plc – Group
3rd Qtr 3rd Qtr 9 Months Year ending
Actual Actual Actual Actual
Mar-19 Mar-18 Mar-19 Jun-18
Equivalent Gold Equivalent Gold Equivalent Gold Equivalent Gold
Oz Oz Oz Oz
Gold Equivalent Production
 
Goldplat Recovery (Pty) Ltd 5 012 4 533 16 297 23 567
Gold Recovery Ghana Ltd 1 254 1 192 3 697 6 752
Kilimapesa Gold (Pty) Ltd 569 1 241 2 627 5 112
Total 6 835 6 966 22 621 35 431
Gold Equivalent Sold
Goldplat Recovery (Pty) Ltd 4 266 3 852 13 236 21 059
Gold Recovery Ghana Ltd 1 113 339 3 042 8 010
Kilimapesa Gold (Pty) Ltd 639 1 380 2 922 5 112
Total 6 018 5 571 19 200 34 181
 
Gold Equivalent Transferred
 
Goldplat Recovery (Pty) Ltd 1 060 1 180 3 471 5 219
Total 1 060 1 180 3 471 5 219
Gold Equivalent Sold and Transferred
Goldplat Recovery (Pty) Ltd 5 326 5 032 16 707 26 278
Gold Recovery Ghana Ltd 1 113 339 3 042 8 010
Kilimapesa Gold (Pty) Ltd 639 1 380 2 922 5 112
Total 7 078 6 751 22 671 39 400

Goldplat Recovery (Pty) Ltd (‘GPL’), South Africa

During the Quarter, GPL produced 5,012 ounces of gold and gold equivalents with 4,266 ounces of gold sold for own account and 1,060 ounces transferred to clients.
Apart from lower production in the by-product circuits in the month of March 2019, all circuits performed according to plan.
The focus remains on sourcing of material, specifically for the CIL circuits, although GPL has 18 months of material available for processing on site.
With the current Tailings Storage Facility (TSF) nearing the end of life, the securing of West Pit 3 for final deposition is becoming more critical. The Company has other land available for deposition and will seek approval for deposition on this site concurrently.

Goldplat Recovery Ghana (‘GRG’), Ghana

GRG produced 1,254 ounces of gold and gold equivalents, with 1,113 ounces of gold being sold for own account during the Quarter.
Production continues to improve from levels experienced in Q1, supported by renewal of two local contracts.
GRG is continuing to build a market in the greater West Africa region with positive progress in terms of negotiations with clients and governments being made.

Kilimapesa Gold (‘KPG’)

KPG produced 569 ounces of gold and gold equivalents, with 639 ounces of gold sold for own account during the Quarter.
Production for the Quarter was in line with revised plans aimed at reducing losses while continuing production during discussions to secure financing.
Discussions regarding a potential transaction remain ongoing. Disappointingly, the possible transaction referred to in the previous quarterly update was terminated, but other possibilities are still being aggressively pursued.

Werner Klingenberg, CEO of Goldplat plc, commented:

“We were very pleased with continued profitable production in South Africa during the quarter and the progress made in building the greater West African market. Management’s continued priority will be to maintain the established momentum of the recovery operation and improve the reliability of sourcing material.”

“While the ongoing discussions to find Kilimapesa an external funding partner, referred to in the last quarter, were terminated, Management is already engaged in talks with other parties and we hope to update the market as they progress.”