Gold recovery specialist Goldplat (LON:GDP) moved back into profit in its latest quarter as production recovered.
The company, which recovers gold from mining by-products, posted operating profits of £571,000 from its recovery businesses, though the Kilimpesa mine posted another loss.
Total gold produced was 9,581 ounces, split roughly two-thirds from South Africa and a third from Ghana with a small cpntributin from the mine.
Gerard Kisbey-Green, Goldplat’s chief executive, said he was delighted with the first quarter’s production.
“Whereas the financial results reflect the operational performances only, it is pleasing to report that, including all Head Office costs and costs associated with non-operating subsidiaries, the group was profitable during the quarter."
A new 4 tonne elution column at the South African business is due to be commissioned in November, he added, while the group has sounded out opportunities to expand its gold recovery business into South America.
The return to positive cashflow in the three months to September was also welcome, he said.