Goldplat reports drop in quarterly production compared to year ago
Source - SMW
Goldplat plc sold and transferred 8,794 gold equivalent ounces during the quarter ended 31 December 2017, below the 9,271 gold equivalent ounces sold and transferred a year ago amid a sharp fall in output at Kilimapesa.
Goldplat's focus at the recovery operations remained on expansion, both in terms of increasing operational capacity and strengthening sourcing supply.
Production at Kilimapesa, was adversely affected by various disruptions related to the election process but the miner said it was on target to produce 5,800 oz of gold in full-year 2018, despite the previous quarter's loss in production.
In South Africa, Goldplat saw production ease slightly to 6,380 gold ounces from 7,121 gold in the same period a year ago, while 3,639 ounces of gold were sold for the company's own account and 1,568 ounces transferred to clients, compared to 5,558 ounces and 2,100 ounces, respectively, in the same period a year ago.
In Ghana, Goldplat saw production fall sharply to 2,408 gold ounces from 4,500 gold in the same period a year ago, while 2,089 ounces of gold were sold for the company's own account, compared to 1,094 ounces, respectively, in the same period a year ago.
Gerard Kisbey-Green, CEO of Goldplat, said:
'I believe we are well placed for a positive full-year 2018.' 'Management is committed to achieving profitability at Kilimapesa during this financial year and I am confident that we will succeed.'
'Furthermore, we continue to make positive progress at our recovery operations, both in terms of increasing operational capacity and in identifying new sources of material for processing at an international level. '
At 9:38am: (LON:GDP) Goldplat PLC share price was -0.85p at 7p