Our latest Investing Matters Podcast episode with QuotedData's Edward Marten has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGoldPlat Regulatory News (GDP)

Share Price Information for GoldPlat (GDP)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 6.85
Bid: 6.70
Ask: 7.00
Change: 0.75 (12.30%)
Spread: 0.30 (4.478%)
Open: 6.10
High: 7.25
Low: 6.10
Prev. Close: 6.10
GDP Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Update on Preliminary Results & Sale of Kilimapesa

11 Nov 2020 12:51

RNS Number : 0101F
Goldplat plc
11 November 2020
 

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration

 

 

11 November 2020

 

Goldplat plc

('Goldplat', the 'Group' or 'the Company')

 

Update on timing of the preliminary results announcement for 30 June 2020 and the sale of Kilimapesa

 

 

Goldplat plc (“Goldplat”), the AIM quoted gold producer, with international gold recovery operations located in South Africa and Ghana and an held for sale mining operation in Kenya, is pleased to provide an update on the publication of its preliminary results for the year ended 30 June 2020.

 

The preliminary results announcement is in the process of finalisation and will be released towards the end of November 2020 and will include restated results for the prior year. These restatements do not have a cashflow impact and result in a modest net increase in equity attributable to Goldplat shareholders. The accounts will show the results for the prior year restated for:

 

· The allocation the attributable portion of the translation loss to the minority shareholders' non-controlling interest reserve. The translation loss arose on the conversion of the Goldplat Recovery (Pty) limited ("GPL") results to sterling during the prior year.

· The recognition of the environmental and decommissioning assets for GPL and Kilimapesa which should be amortised over the life of the asset. The environmental liabilities were adequately provided for in prior years and expensed as rehabilitation costs, without raising a corresponding asset. A decommissioning asset should have been raised and then amortised over the life of the operations.

· On 5 November 2018, Ashanti Gold Corp Limited (Ashanti") exercised its option to earn a 51% shareholding in Anumso, after expending USD 1 500 000 on exploration. Additional shares were not issued to Ashanti at that time and Ashanti did not appoint any board members. A decision was made to consolidate the Anumso results as at 30 June 2019, as Ashanti were not seen to have legal control. However, because Ashanti did take over effective control of Anumso in the prior year, we have restated the prior results and have accounted for Anumso on an equity accounting basis. As part of the restatement, the translation loss relating to Anumso will be allocated to retained earnings through the statement of profit and loss.

Kilimapesa Update

Progress has been made on the transaction with a draft restructuring plan and due diligence information received from Mayflower and we are working closely with them in advancing the transaction and finalising the due diligence, which will only be completed once the restructuring plan has been concluded. Further to the Company's announcement of 15 October 2020, it has been agreed that all conditions have been met or waived and the exclusivity period for the sale of Kilimapesa be extended to 31 December 2020. Further updates will be provided on the transaction in due course.

Werner Klingenberg, CEO of Goldplat commented: "I fully support these improvements in our reported results and despite the additional delay this has caused I trust it will be useful to all stakeholders involved. The progress made on the Kilimapesa transaction have been encouraging and we look forward to share updated timelines soon."

 

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 / Harrison Clarke/Seamus Fricker

 

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

 

Tim Thompson / Mark Edwards / Fergus Mellon

Flagstaff Strategic and Investor Communications

Tel: +44 (0) 207 129 1474

goldplat@flagstaffcomms.com

 

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.

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
UPDKKDBQBBDDNDD
Date   Source Headline
25th Mar 20247:01 amRNSInvestor Presentation
25th Mar 20247:00 amRNSInterim results for six-months ended 31 Dec 2023
7th Feb 20249:16 amRNS2nd Quarter Operating Results
23rd Jan 202411:44 amRNSResults of Reconvened Annual General Meeting
15th Jan 20247:00 amRNSInvestor Presentation
12th Jan 20247:00 amRNSNotice of Reconvened Annual General Meeting
29th Dec 202312:23 pmRNSResults of AGM and Adjournment of Meeting
18th Dec 20237:01 amRNSNotice of Investor Presentation
18th Dec 20237:00 amRNSAudited Results for the Year Ended 30 June 2023
4th Dec 20237:00 amRNSNotice of Annual General Meeting
10th Nov 20237:00 amRNS1st Quarter Results
15th Aug 20237:05 amRNSNotification of Investor Presentation
15th Aug 20237:00 amRNS4th Quarter Operating Results
27th Jun 20231:07 pmRNSTSF Update
31st May 20237:00 amRNSUpdate: Management Team, Licensing and Electricity
5th May 20237:00 amRNS3rd Quarter Operating Results update 31 March 2023
31st Mar 20237:00 amRNSInterim results for period ended 31 December 2022
23rd Mar 202312:39 pmRNSResult of Adjourned AGM
16th Mar 202311:55 amRNSUpdate on Electricity
28th Feb 20237:00 amRNSAdjourned AGM and Posting of Annual Report
20th Feb 20237:30 amRNSRestoration - Goldplat plc
20th Feb 20237:01 amRNSNotification of Investor Presentation
20th Feb 20237:00 amRNS2nd Quarter operating results update
20th Feb 20237:00 amRNSAudited Results for the year ended 30 June 2022
13th Feb 20237:00 amRNSAppointment Of Chairman
31st Jan 20237:30 amRNSUpdate on Annual Report
20th Jan 20232:21 pmRNSAnnual Report
3rd Jan 20237:30 amRNSSuspension - Goldplat plc
3rd Jan 20237:00 amRNSResults of AGM and Adjournment of Meeting
15th Dec 20222:05 pmRNSUpdate on Annual Report - Suspension of shares
6th Dec 20225:42 pmRNSNotice of AGM
2nd Dec 20227:05 amRNSSale of shares in Caracal Gold Plc
2nd Dec 20227:00 amRNSHolding(s) in Company
22nd Nov 202212:21 pmRNSSale of a portion of shares in Caracal Gold Plc
22nd Nov 202212:00 pmRNSHolding(s) in Company
8th Nov 20227:00 amRNS1st Quarter Results
1st Nov 202212:47 pmRNSInvestor Webinar
31st Oct 20222:12 pmRNSSale of a Portion of Shares in Caracal Gold PLC
26th Sep 20227:00 amRNSAppointment of Chairman and Non-Executive Director
17th Aug 20227:00 amRNS4th quarter operating results update
16th Jun 20227:00 amRNSGrant of Water Use License
31st May 20227:00 amRNSTotal Voting Rights
20th May 20227:35 amRNSDirector/PDMR Shareholding
19th May 20221:19 pmRNSInvestor Webinar
19th May 20227:00 amRNSDirector/PDMR Shareholding
19th May 20227:00 amRNSCancellation of Treasury Shares
16th May 20227:00 amRNSDirector/PDMR Shareholding
6th May 20227:11 amRNSDirectorate Change
5th May 20227:00 amRNS3rd quarter operating results update 31 March 2022
29th Apr 20223:50 pmRNSTotal Voting Rights

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.