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Goldplat ahead of forecasts as year ends strongly

Production in the three months to June was 14,800 oz gold equivalent
picture of gold mine
Goldplat recovers gold from discarded equipment at mines

A strong end to its trading year will mean gold recovery specialist Goldplat PLC (LON:GDP) posting underlying profits ahead of market expectations.

The published profits will include a £980,000 write-off for a project in Burkina Faso (Nyieme), but ignoring that the ongoing business had traded well said Gerard Kisby-Green, chief executive.

READ: Goldplat upbeat as Kilimapesa gold mine swings into profit

Production in the three months to June was 14,800 oz gold equivalent, with sales of 11,500 oz, and boosted by a one-off contract from a client in Africa.

There were also deliveries from a first long-term contract in Uruguay.

"The final quarter of the financial year produced good results all around for Goldplat, with a particular highlight being the continued record gold production and first operational profitability at our Kilimapesa operation,” Kisbey-Green added.

Production for the year totalled 42,857 gold equivalent ounces, a 14% increase over the previous year.

Shares rose 5% to 6.18p.

 

--updates for share price--

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