Goldplat full-year profit drops

Goldplat, which has gold recovery operations in Ghana and South Africa, has recorded a combined operating profit of £5.3-million for the twelve months ended 30 June 2021 down from £6.35-million profit realised a year earlier.
It said the Ghana operations continue to "perform well" as a result of a steady supply of material and achieved an operating profit for the fourth quarter of £729,000 from £366,000, the previous year.
The South African operation achieved an operating profit for the fourth quarter of £350,000 down from £2,18 million, a year earlier. 
"The regular supply into Ghana remains encouraging, but even more so the increased engagement in neighbouring countries creating the potential of future supply," said Goldplat chief executive Werner Klingenberg. 
"With the sale of Kilimapesa, the group will focus on growth and diversification within its recovery operations, whilst remaining cognisant of its goal of distributing value to shareholders."
Meanwhile, the company said without giving figures that gold production during the fourth quarter was above the average of the last eight quarters with production in its CIL circuit contributing the most to this.
Although volumes and gold grades of by-products received during the quarter were lower than two to three years ago, they have stabilised over the last 18 months and the company is expecting them to remain stable on the back of a three-year contract renewal with one of its major suppliers.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished