Last checked at 16 Mar 2023 11:55
Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
16 March 2023
Goldplat plc
('Goldplat' or the 'Company')
Update on electricity
Goldplat Plc, (AIM:GDP) the AIM listed Mining Services Group, with international gold recovery operations located in South Africa and Ghana, servicing the African and South American Mining Industry, wishes to give an update on the electricity situation in South Africa and its impact on its South African operation.
As announced in the Q2 operating results dated 23 February 2023, the electricity cuts have continued into Q3 in order to reduce the load on the network by the country's electricity provider. We however lost additional hours in March 2023, due to problems on the transmission lines to the operations. This, together with continued electricity cuts, has resulted in hours lost during Q3 to date already being 43% higher than what was experienced during Q2.
Goldplat is engaging with the municipality to see how we can reduce the impact on our operations and continue to investigate ways to increase productivity during times of availability.
The productivity and margin of different sources and processes are being impacted differently by the availability of electricity supply. Nonetheless, the Company still expects to meet current market expectations for the current financial year and we will keep the market updated on the situation and impact.
The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
For further information visit www.goldplat.com, follow on Twitter @GoldPlatPlc or contact:
Werner Klingenberg
| Goldplat plc (CEO)
| Tel: +27 (0) 82 051 1071 |
Colin Aaronson / George M Grainger
| Grant Thornton UK LLP (Nominated Adviser) | Tel: +44 (0) 20 7383 5100
|
James Bavister / Andrew de Andrade
| WH Ireland Limited (Broker)
| Tel: +44 (0) 207 220 1666
|
Tim Thompson / Mark Edwards / Fergus Mellon | Flagstaff Strategic and Investor Communications | Tel: +44 (0) 207 129 1474 goldplat@flagstaffcomms.com |