What's Happening?
Goldplat, an AIM-listed company, has reported a strong operating quarter with a combined operating profit of £2.09 million from its recovery operations in South Africa and Ghana. The Ghanaian operation benefitted
from an increasing gold price, achieving a profit before tax of £1.13 million, while the South African operation reported a profit before tax of £1.25 million. The company plans to pay an interim dividend to shareholders and assess dividend distribution on a quarterly basis. Goldplat's cash balances remain strong, supporting working capital requirements and capital expenditure.
Why It's Important?
Goldplat's strong financial performance underscores the resilience and profitability of its recovery operations in South Africa and Ghana. The company's ability to generate significant profits amidst fluctuating gold prices highlights its strategic management and operational efficiency. The decision to pay dividends reflects confidence in its financial stability and commitment to shareholder returns. Goldplat's focus on increasing its by-product market share and improving recovery processes positions it well for future growth, particularly in regions with high gold production potential.
What's Next?
Goldplat plans to continue driving initiatives to improve recoveries and manage costs effectively. The company is focused on increasing its by-product market share in South Africa and expanding its operations in Brazil. Goldplat's engagement with several parties for the tailings storage facility project in South Africa is ongoing, with approvals for pipeline installation and commercial terms with DRDGOLD being key next steps. The company aims to enhance its current solution to provide niche services to customers outside Ghana, adapting to regulatory changes and market demands.
