Goldplat Plc (LON:GDP) gold producer, with international gold recovery operations located in South Africa and Ghana and a gold mine in Kenya announced its preliminary results for the year ended 30 June 2018. Joining directors talk to discuss the results is CEO, Gerard Kisbey-Green.
Gerard talks us through the headline numbers, the operational updates in South Africa, Ghana and Kilmapesa. Gerard also discusses the 2 year plan to build primary mining production so that it matches the recovery operations and how they are planning on achieving this.
Goldplat plc is an AIM quoted gold producer with two market leading recovery operations in South Africa and Ghana and an operational gold mine in Kenya. The Company produced 42,857 ounces of gold during FY 2017, with 40,285 gold equivalent ounces sold and transferred, resulting in an operating profit from continuing operations of £2.9m for the year. This result does not benefit from the increased processing capacity that was achieved at the Kilimapesa Gold Mine towards the end of FY 2017, with operational profitability achieved during last two months of FY 2017. Accordingly, the Company believes it is well placed to build upon production and profitability during FY 2018.
The Company’s strategy is focussed on utilising cash flow generated from its flagship gold recovery and mining operations to self-fund the sustainable growth and expansion of its niche gold recovery business model internationally. The Company is also committed to increasing its primary mining production output through acquisition / gaining interests in producing or near-production assets, preferably in Africa. Goldplat retains exposure to a small exploration project in Ghana, in which Ashanti Gold Corp. is earning an interest via an earn-in option agreement.