Aim-listed Goldplat has appointed CFO Werner Klingenberg interim CEO with immediate effect.

He succeeds Gerard Kisbey-Green, who has stepped down as CEO but will continue to provide services to the company as required to ensure a smooth managerial transition.

Goldplat has also initiated a review of its senior management requirements to "fully reflect the group's current emphasis on its profitable recovery operations".

Meanwhile, the company, which has operations in South Africa, Ghana and Kenya, produced 6 835 oz of gold in the quarter ended March 31, slightly lower than the 6 966 oz produced in the quarter ended March 31, 2018. The March quarter represents the third quarter of the company's financial year.

Its South African gold recovery operation, Goldplat Recovery, produced 5 012 oz of gold and gold equivalents in the quarter, compared with the 4 533 oz produced in third quarter of the prior financial year.

Apart from lower production in the by-product circuits in the month of March, all circuits performed according to plan, Goldplat said in a release on Friday.

Goldplat Recovery Ghana (GRG), meanwhile, produced 1 254 oz of gold and gold equivalents in the March quarter, compared with the 1 192 oz produced in the prior comparable quarter.

"Production continues to improve from levels experienced in the first quarter, supported by the 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," the company commented.

Production at Goldplat's Kilimapesa gold mine, in Kenya, decreased to 569 oz of gold and gold equivalents, compared with the 1 241 oz produced in the prior comparable period. This was, however, in line with revised plans as part of efforts to reduce losses at the mine.

“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 engaged in talks with other parties and we hope to update the market as they progress,” said Klingenberg.