JOHANNESBURG (miningweekly.com) – Aim-listed Goldplat produced 7 252 oz of gold in the first quarter of this year, thereby contributing to continued profitability and steady progress on priority capital projects.
During the quarter under review, the South Africa-based Goldplat Recovery (GPL) produced 4 864 oz of gold, of which 3 365 oz were sold for own account and 975 oz were returned to clients by way of metal transfers. Operating profit for the quarter was £845 000, bringing the unaudited nine-month year-to-date operating profit to £1.54-million.
Gold Recovery Ghana (GRG), meanwhile, produced 1 885 oz of gold in the first quarter, with 2 391 oz being sold.
GRG recorded an operating profit of £156 000 for the quarter, bringing the unaudited nine-month year-to-date operating profit to £458 000.
Meanwhile, the renewal of the Gold and Environmental Protection Agency licences for GRG were in progress and were expected to be concluded during the current quarter.
KILIMAPESA GOLD
During the first quarter, the Kenya-based Kilemapesa gold project produced 503 oz of gold, of which 442 oz were sold.
This resulted in an unaudited operating loss for the period of £169 000, bringing the nine-month year-to-date operating loss to £501 000. However, monthly losses relative to the previous six-month period were reduced by improving gold yields.
Goldplat CEO Gerard Kisbey-Green said the first quarter of 2016 has been good for Goldplat. “I am pleased to report continued profitability at the recovery operations and decreased losses at Kilimapesa.”
He added that good progress was made on major projects, including the Kilimapesa plant project and the GPL tailings storage facility.