GoldPlat Regulatory News (GDP)

26 Apr 2019 07:05

Ops Update

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration26 April 2019

Goldplat plc (‘Goldplat’ or ‘the Company’)Operational Update

Goldplat plc, the AIM listed gold producer, with international gold recovery operations based in South Africa and Ghana and a gold mine in Kenya, is pleased to announce an operational update for the three months ended 31 March 2019 (the ‘Quarter’).

Overview

7,078 ounces of gold and gold equivalents was sold and transferred during the Quarter, compared to 6,751 ounces during the 3rd Quarter of 2018. The production in South Africa during the Quarter was as per plan and progress continues to be made in building the greater West African market.

Gold Equivalent Ounces
for the month period ending 31 March 2019

Goldplat Plc – Group
	3rd Qtr	3rd Qtr	9 Months	Year ending
	Actual	Actual	Actual	Actual
	Mar-19	Mar-18	Mar-19	Jun-18
	Equivalent Gold	Equivalent Gold	Equivalent Gold	Equivalent Gold
	Oz	Oz	Oz	Oz
Gold Equivalent Production
Goldplat Recovery (Pty) Ltd	5 012	4 533	16 297	23 567
Gold Recovery Ghana Ltd	1 254	1 192	3 697	6 752
Kilimapesa Gold (Pty) Ltd	569	1 241	2 627	5 112
Total	6 835	6 966	22 621	35 431
Gold Equivalent Sold
Goldplat Recovery (Pty) Ltd	4 266	3 852	13 236	21 059
Gold Recovery Ghana Ltd	1 113	339	3 042	8 010
Kilimapesa Gold (Pty) Ltd	639	1 380	2 922	5 112
Total	6 018	5 571	19 200	34 181
Gold Equivalent Transferred
Goldplat Recovery (Pty) Ltd	1 060	1 180	3 471	5 219
Total	1 060	1 180	3 471	5 219
Gold Equivalent Sold and Transferred
Goldplat Recovery (Pty) Ltd	5 326	5 032	16 707	26 278
Gold Recovery Ghana Ltd	1 113	339	3 042	8 010
Kilimapesa Gold (Pty) Ltd	639	1 380	2 922	5 112
Total	7 078	6 751	22 671	39 400

Goldplat Recovery (Pty) Ltd (‘GPL’), South Africa

During the Quarter, GPL produced 5,012 ounces of gold and gold equivalents with 4,266 ounces of gold sold for own account and 1,060 ounces transferred to clients.Apart from lower production in the by-product circuits in the month of March 2019, all circuits performed according to plan.The focus remains on sourcing of material, specifically for the CIL circuits, although GPL has 18 months of material available for processing on site.With the current Tailings Storage Facility (TSF) nearing the end of life, the securing of West Pit 3 for final deposition is becoming more critical. The Company has other land available for deposition and will seek approval for deposition on this site concurrently.

Goldplat Recovery Ghana (‘GRG’), Ghana

GRG produced 1,254 ounces of gold and gold equivalents, with 1,113 ounces of gold being sold for own account during the Quarter.Production continues to improve from levels experienced in Q1, supported by renewal of two local contracts.GRG is continuing to build a market in the greater West Africa region with positive progress in terms of negotiations with clients and governments being made.

Kilimapesa Gold (‘KPG’)

KPG produced 569 ounces of gold and gold equivalents, with 639 ounces of gold sold for own account during the Quarter.Production for the Quarter was in line with revised plans aimed at reducing losses while continuing production during discussions to secure financing.Discussions regarding a potential transaction remain ongoing. Disappointingly, the possible transaction referred to in the previous quarterly update was terminated, but other possibilities are still being aggressively pursued.

Werner Klingenberg, CEO of Goldplat plc, commented: “We were very pleased with continued profitable production in South Africa during the quarter and the progress made in building the greater West African market. Management’s continued priority will be to maintain the established momentum of the recovery operation and improve the reliability of sourcing material.”

“While the ongoing discussions to find Kilimapesa an external funding partner, referred to in the last quarter, were terminated, Management is already engaged in talks with other parties and we hope to update the market as they progress.”

** ENDS **

For further information visit www.goldplat.com, follow on Twitter @GoldPlatPlc or contact:

Werner Klingenberg	Goldplat plc(Interim CEO)	Tel: +27 (82) 051 1071
Colin Aaronson / Richard Tonthat / Ben Roberts	Grant Thornton UK LLP(Nominated Adviser)	Tel: +44 (0) 20 7383 5100
James Joyce / Jessica Cave	WH Ireland Limited (Broker)	Tel: +44 (0) 207 220 1666
Priit Piip	St Brides Partners Ltd (Financial PR)	Tel: +44 (0) 20 7236 1177

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.