JOHANNESBURG (miningweekly.com) - Aim-listed Goldplat reported an operating profit of £1.58-million for the six months ended December 31, with its Goldplat Recovery operations, in South Africa, performing "exceptionally well" and Kilimapesa Gold (KPG), in Kenya, showing major improvements.
Gold Recovery Ghana (GRG), however, while performing well in the six-month period, reported lower profits in line with the forecast.
Goldplat continues to deliver on its stated strategic objectives at its various operating subsidiaries, Goldplat chairperson Matthew Robinson commented on Monday.
Revenues of £18.27-million for the period represent a 27% year-on-year increase, which is in line with higher gold production and sales for the period.
Overall gold and gold equivalent production for the six months under review was 20 246 oz. Total gold and gold equivalent sold and transferred for the period was 21 783 oz.
The difference between the gold and gold equivalent produced and the total gold and gold equivalent sold and transferred during the six months, Robinson explained, is primarily a result of roughly 1 000 oz of gold produced at GRG during the financial year ended June 30, 2017, being sold early in the period to December 31.
"Having built a strong gold production profile, our focus is now to greatly increase output and profitability, leveraging our established African operations to support clients globally," he stated.