Gold & PGM Recovery, Mining & Production

Goldplat Plc is a market leader in the recovery of gold and platinum group metals from metallurgically-challenging materials consisting primarily of by-products from gold and platinum mines in South Africa.
The Company is replicating the South African recovery business model in Ghana where there are again significant mining operations that can benefit from the recovery process.

The revenues from both operations will be utilised to identify and acquire gold mining assets with resources of up to two million ounces.

In essence, the Company intends to build a mid-tier gold production vehicle in Africa, predominantly financed by an established business with blue-chip clients and strong revenues.

21 December 2006

Preliminary Results
Goldplat plc, the AIM-traded producer of gold and platinum group metals ('PGM') recovered from by-products of the mining process, announces its results for the period ended 30 June 2006. These results do not include the results of Goldplat Recovery (Pty) Ltd ('Goldplat Recovery'), which was acquired by Goldplat after the year end. The results for Goldplat Recovery were announced on 24 October 2006.

Overview

Listed on AIM in July 2006 having raised 1.5 million
Acquired Goldplat Recovery, a South African producer of gold and PGM's recovered from by-products of the mining process
Increased productivity and profitability of Goldplat Recovery following investment in new and the upgrading of existing machinery
Established complementary processing plant in Ghana to meet the demand from West African gold mines - Gold Recovery Ghana Limited
Strategy to create a junior mining house focused on gold production through the acquisition of known gold deposits - actively reviewing a number of projects in Ghana, Mozambique and Kenya
Chairman's Statement The accounts of Goldplat plc are drawn up to 30 June 2006, prior to the admission to AIM and the acquisition of Goldplat Recovery (Pty) Limited ('Goldplat Recovery'). They reflect a period during which the Company agreed to acquire a Tanzanian gold exploration company, Zari Exploration Tanzania Pty Limited. The contract to acquire Zari lapsed on 30 September 2005 and subsequently the Directors concentrated their efforts on the acquisition of Goldplat Recovery and Gold Recovery Ghana Limited, and the AIM admission.

It gives me great pleasure to report on progress made since listing on AIM in July 2006.

On listing, Goldplat acquired Goldplat Recovery, a market leading South African producer of gold and PGMs recovered from by-products of the mining process and raised 1.5 million. The Company's stated strategy is to create a junior mining house focussed on gold production through a phased development strategy backed by revenue generated from the recovery business.

Phase one is to increase the efficiency, flexibility and profitability of the South African processing plant. Phase two is to establish a complementary processing plant in Ghana to meet the demand from West African gold mines. Phase three is to expand into mining through the acquisition of known gold deposits with targets of between 200,000 and 2,000,000 ounces of contained gold. To this end, your Company has made considerable progress.

Beginning with the South African operation, Goldplat Recovery, as announced in October 2006, we have made great progress in increasing productivity and profitability. Following investment in new and the upgrading of existing machinery and the solving of how to deal with some technically challenging materials, the operation is now generating strong cash flow. These improvements were demonstrated by the results recently released which showed that it went from making a loss after tax of ZAR306,868 for the first nine months, to a profit after tax of ZAR1,327,674 for the full year.

Goldplat Recovery works with all the key operators in South Africa. It operates from a freehold site of 22 hectares near Benoni in Gauteng, South Africa, where it houses a processing plant and raw material stockpiles. It also has surface rights over an adjacent 12 hectare site where it has established a tailings facility. Mining operators are obliged to dispose of mining by products in an environmentally friendly manner, which is where we step in. The Company acquires raw materials, such as woodchips, fine carbon and waste grease, from mine operators after testing to establish gold or PGM content, moisture content, recoverability and size.

The next part of the strategy was to establish a complementary recovery facility in Ghana. To this end we established Gold Recovery Ghana Limited ('GRG') and in September we acquired a 4.25 acre site in the free zone port of Tema for USD200,000 cash. Construction of the processing plant is underway and operations will commence in January 2007 with further expansion to take place during 2007. We expect to access raw materials from mines in Mali, Guinea, Burkina Faso, Benin, Cote D'Ivoire, Senegal, the DRC, Mauritania and naturally Ghana too. We are currently building relationships in these areas. GRG has already established an initial turnover through agreements with local mines and is exporting fine activated carbon to the plant in South Africa. Once the plant is up and running GRG's first operations will be the cleaning of rubber and steel liners to produce a concentrate for export. The cleaned aluminium and steel will be sold locally.

The final part of our strategy is to expand into gold mining through the acquisition of known deposits (not greenfield exploration), supported by revenue generated from the gold and PGM recovery operations. We are focused on acquiring gold targets of between 200,000 - 2,000,000 ounces of contained gold, which are too small for major mining companies, yet potentially highly profitable. The Directors have been actively reviewing a number of projects in Ghana, Mozambique and Kenya and are excited about the opportunities available.

With its highly profitable recovery business in South Africa, its soon to be in operation plant in Ghana and balanced risk approach using cash flows from existing processing operation to fund development of mining projects, I believe that your Company is in a very strong position to develop its growth strategy and reward its shareholders.

The profits from Goldplat Recovery for the first four months of the current year are in excess of forecasts and bear out the statement in the admission document that the outlook for the future is favourable.

I would like to thank the management and the rest of the team for their support through the extremely busy listing period and for their successful efforts in both turning the South African business and establishing the new operation in Ghana.

Brian Moritz
Chairman
19 December 2006

Closing in on a GC here.
2517

Finals mid Sept.
2517

Overcame early weakness to finish modestly higher, final results for last year were on 13th September, I assume a similar date for this year but there is nothing on the forward diary. These results whenever they come will include a contribution from Kilimapesa for the first time, so could be interesting.
2517

Finals released today, cracking results, no debt, plenty of cash and paying a dividend.
2517

Lots of trades today. I feel a spike coming on.

Sold mine 9th May albeit at a loss, but nothing compared to the loss today had I kept them.
2517

Final results in November. Should still be profitable with a handy dividend so perhaps time to get back in?

bottomed out here?!

back in profit, more to come! Great cash generation considering they spent 600k on ppe

StockMarketWire.com
Goldplat reports a very active month of June, with its South African operations performing ahead of expectations

But it also said its 74%-owned Goldplat Recovery (Pty) Limited ("GPL") had been informed that Rand Refinery disputed an amount due to GPL in relation to a binding Memorandum of Understanding to process a batch of silver sulphide material.

GPL has concluded the toll-treatment as specified in the contract and has issued invoices, some of which Rand Refinery has not paid and are disputing.

Further to legal advice, GPL issued a demand letter to Rand Refinery for unpaid invoices for approximately ZAR13.5 million (circa £628k based upon the average conversion rate for the year); Rand Refinery has denied the indebtedness. GPL will institute processes forthwith to resolve the issue and, on the basis of legal advice received, the Goldplat board is confident that GPL will recover the money owed to it in full.

Goldplat will keep the market informed as to progress regarding the dispute with Rand Refinery over the Silver Contract.

GPL has also been notified that Rand Refinery will not be able to accept by-product materials for treatment in their smelter during the month of August, for operational reasons.

As previous issues with the Rand Refinery smelter have placed the Group's companies in very difficult positions operationally, financially and with regards to their relationships with their clients, Goldplat has taken strategic steps to mitigate what the Company referred to as "single refiner risk".

Goldplat says alternate plans are in place to treat the bulk of the Group's products. Whilst this will have timing and cost implications, the directors do not expect the use of alternative refiners to have a significant impact on its business.

Goldplat says that in light of the strong end to the financial year, marked exchange rate movements, which have worked in the company's favour, and lack of certainty as to the recoverability and consequential accounting treatment of the disputed debt, the company is not yet in a position to advise whether its annual results for the year ended 30 June 2016 will be in line with market expectations. However, Goldplat is currently reviewing the possible financial impact of these matters, and will announce as soon as possible any material variation to market expectations of its results for the year ended 30 June 2016.

proactive investor - Goldplat upbeat as Kilimapesa gold mine swings into profit
Share
15:03 21 Jun 2017
A throughput of 120 tonnes per day of ore from Kiliapesa during May was on target

Kilimapesa is in Kenya
Goldplat PLC (LON:GDP) has reported that its Kilimapesa gold mine in Kenya is now operating profitably with a processing plant upgrade also now in the commissioning stage.
A throughput of 120 tonnes per day of ore during May was on  target, it said, as stockpiled fine material and a spare crusher were utilised while the new crusher and leach tanks were installed.

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A decision on the next stage on Kilmapesa’s expansion will be taken once consistent planned production and profitability have been achieved but a second mill will be installed while the mine will also switch to cheaper grid power.
WATCH: 'All of our operations are now operating profitably', says Goldplat's Gerard Kisbey-Green
Goldplat is targeting an annualised production rate of about 4,500 ounces of gold following the completion of stage two.
Gerard Kisbey-Green, Goldplat’s chief executive, said: "Kilimapesa is now operating profitably and at the increased rates targeted for Stage Two.  This, together with continued steady and positive progress in South America, means the overall performance of the group remains positive and in line with market expectations.”
Away from Kilimapesa, Goldplat’s core business is to extract gold and silver from used mining equipment such as rubber mill liners.
It has just won its first recurring contract in South America with initial shipments of 360 tonnes of carbon to its operations in Ghana, where it has also decided to use a second hand elution plant to expand the operation.
This will save US$1mln, or half the cost, and be running by the end of 2017 or six months ahead of its licence renewal schedule.
Goldplat’s other extraction plant is in South Africa.
Kisby-Green said he did not expect the empowerment changes proposed in the country’s new mining charter to have a significant impact on its business there, even though the Chamber of Mines, the SA mining trade body, has threatened legal action.
Broker VSA repeated its 'buy' recommendation and 12.2p target price. Shares were a little lower at 6.75p.

21 Jun
VSA Capital
12.20
Buy

Who Should Attend?Date:

Monday 21 May 2018

Venue:

Novotel Tower Bridge, London EC3N 2NR, 10 Pepys Street, London, EC3N 2NR

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