Goldplat achieved operational profitability at all operations and made good progress being made on its strategic objectives in the first quarter to the end of September.
- 95% increase on the corresponding period in 2016 in gold equivalent ounces sold and transferred during the Quarter to 14,374 (30 Sep 2016: 7,382 ounces)
- All operations were profitable during the quarter at an operational level
- 133% increase on the corresponding period in 2016 in gold equivalent ounces produced at Kilimapesa gold mine to 1,449 (30 Sep 2016: 623 ounces) - on track to produce in excess of 5,800oz targeted during FY 2018
- Good progress was made in areas of strategic focus including:
* Sourcing sufficient suitable material for the carbon in leach ('CIL') circuits at Goldplat Recovery (Pty) Ltd in South Africa ('GPL')
* Ensuring that sufficient ore is sourced from the underground mine for processing through Plant 2 at Kilimapesa
* Sourcing sufficient by-product material to keep Gold Recovery Ghana Limited ('GRG') operating to capacity.
* The erection of an elution plant at GRG during the Quarter
Chief executive Gerard Kisbey-Green said: 'With operational profitability achieved at all operations and good progress being made on our strategic objectives, I am very pleased with the results for the Quarter.
'With production rates at Kilimapesa now sustainable at planned levels for Stage 2, focus will be on cost reduction.
'At GRG good progress is being made in our efforts to grow production through sourcing material from West Africa and South America, and we expect commissioning of the elution plant scheduled to begin towards the end of December 2017.'
At 9:53am: (LON:GDP) Goldplat PLC share price was +0.5p at 6.75p