Goldplat plc Update on preliminary results & Sale of Kilimapesa (1321C)
October 15 2020 - 1:00AM
UK Regulatory
TIDMGDP
RNS Number : 1321C
Goldplat plc
15 October 2020
G ol dp lat plc / Ti cker: GDP / Index: AIM / Secto r: M in i ng
& E x p l o rati on
15 October 2020
Goldplat plc
( 'Goldplat', t he 'Group' or 'the Company ')
Update on timing of preliminary results announcement for 30 June
2020 and on the progress on the sale of Kilimapesa
G ol dp lat pl c ("Goldplat"), the AIM quoted 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 and an underground m i ning operation
in Ken ya, is p leased to provide an update on the publication of
its preliminary results for the year ended 30 June 2020 and on the
sale of Kilimapesa.
Further to the announcement of 1 October 2020, the preliminary
results announcement for the year ended 30 June 2020 is now
expected to be released at the beginning of November 2020. Due to
the current environment, the finalisation of elements of the audit
are taking longer than anticipated.
Operational results from the Recovery Businesses remain in line
with those announced during the previous quarterly updates,
including the announcement of 28 July 2020. In line with the
strategy to focus on the Recovery Businesses, the Group's
investments in our exploration assets are being impaired and
Kilimapesa is being classified as a "held for sale asset".
Additionally, we anticipate releasing the operational update for
the first quarter of the financial year ending 30 June 2021 towards
the end of next week.
Sale of Kilimapesa
As announced on 1 October 2020, the Company's subsidiary Gold
Minerals Resources Limited ("GMR") and Mayflower Capital
Investments Pty Limited ("Mayflower") have agreed to extend the
exclusivity period under the term sheet as announced on 31 July
2020 from 30 September 2020 to 31 December 2020 subject to the
following conditions having been met by 30 October 2020, failing
which the exclusivity period will expire on 30 October 2020, but
can be waived and amended at GMR's sole discretion:
-- Mayflower advancing the balance of the amount of USD 165,000
which remains outstanding on the agreed amount of USD 300,000 by 9
October 2020, which has been earmarked to fund the processing of
tailings.
-- Preparation by 9 October 2020, of a draft reorganisation plan
for Papillon, the UK entity which ultimately intends holding the
Kilimapesa asset.
-- Mayflower and Papillon providing GMR with all documentation,
assistance and responses required by GMR to complete the due
diligence of Mayflower and Papillon by 30 October 2020.
-- A draft LSE listing prospectus and fixed timetable for
completion being presented by 30 October 2020.
Mayflower has advanced the balance of USD165,000 and submitted a
draft re-organisation plan for Papillon, as per the agreement, and
the expectation is that all the due diligence information for
Mayflower and Papillon and the draft listing prospectus will be
provided soon.
Werner Klingenberg, CEO of Goldplat commented: "Conducting the
review and reporting of annual results under the restrictions and
additional considerations brought about by the Covid-19 pandemic
has been challenging. That being said, the impact on our Recovery
operations have been minimal and I look forward to sharing an
operational update on the first quarter of the financial year
ending 30 June 2021 in the coming week
With the receipt of the balance of cash from Mayflower,
Kilimapesa should have sufficient working capital to continue its
tailings operations until the end of December 2020, the date by
which the sale is due to be completed."
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 / Harrison Grant Thornton UK LLP Tel: +44 (0) 20 7383
Clarke/Seamus Fricker (Nominated Adviser) 5100
James Joyce / Jessica WH Ireland Limited Tel: +44 (0) 207 220
Cave (Broker) 1666
Tim Thompson / Mark Edwards Flagstaff Strategic and Tel: +44 (0) 207 129
/ Fergus Mellon Investor Communications 1474
goldplat@flagstaffcomms.com
Th e i n formati on co ntai ned w ith in t h is ann oun cement
is deemed to const itute in s ide i nf o rma t i on as st ipu lated
under the Market Abu se Regulati ons (EU) No. 5 9 6 / 2 0 1 4. Up
on the pub l ication of this ann o u ncement, this in s i de i n fo
rmati on is now c o n s i dered to be in the pub l ic domain.
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