Goldplat set out FY results

Preliminary Results

Goldplat plc, the AIM listed gold producer, announces its preliminary results for the year ended 30 June 2015.

Overview

– Focussed on growth of market-leading gold recovery operations in South Africa and Ghana, with additional upside available from mining and exploration portfolio
– Produced 30,524 ounces of gold (2014: 30,977 ounces) with 21,181 ounces sold (2014: 26,485 ounces) for own account and 3,723 ounces (2014: 1,731 ounces) transferred to client metal accounts
– Successfully secured alternative refiners and processors to process stock build-up and mitigate single refiner risk following inability of Rand Refinery to process material, which impacted operations and cash-flow for the year
– Elution capacity significantly increased at Gold Recovery (Pty) Limited SA and plans to increase capacity further at both South Africa and Ghana to optimise recovery operations
– Kilimapesa Gold Mine in Kenya on-track to achieve operational break-even with plans to double production in FY2016 following capital improvements
– Established dedicated “strategic sourcing” team to identify quality material for processing at gold recovery operations
– Trial project underway to assess opportunities to diversify into prospective Platinum Group Metals market
– Focussed on expanding gold recovery operations to build profitability

Financials

– Operating loss of £711,000 (2014: profit of £153,000) – Company returned to profitability in H2 2015 after a first half operating loss of £826,000
– Loss before tax of £796,000 (2014: loss of £248,000)
– Net cash position of £630,000 as at 30 June 2015 (2014: £1,455,000)

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