Goldplat plc (LON:GDP) sold and transferred 8,794 gold equivalent ounces during the quarter quarter ended 31 December 2017.
The company continues to focus on expansion at the recovery operations in South Africa while Ghana remains on expansion, both in terms of operational capacity and strengthening sourcing supply.
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Meanwhile, production at the Kilimapesa mine in Kenya was adversely affected by various disruptions related to the election process.
Production has returned to planned levels during January 2018 and forecast production for the year remains unchanged at around 5,800 ounces.
The major contribution continued to come from South Africa, which produced 6,380 gold ounces during the quarter, with 3,639 ounces of gold sold for the company’s own account and 1,568 ounces transferred to clients.
The gold content of the company’s current raw material stock now exceeds 1,000 kg, or in excess of 32,000 ounces of gold, for the first time since 2013, highlighting the focus and energy the sourcing team has put into finding the right materials for the operation.
Meanwhile, the Ghana operation produced 2,408 ounces of gold and gold equivalents during the quarter, with 2,089 ounces of gold being sold for the company’s own account. Although this production is lower than in the corresponding period in the previous year, it is in line with the year-plan.
Kilimapesa produced 1,234 ounces of gold and gold equivalents.
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“I believe we are well placed for a positive FY 2018,” said Goldplat chief executive Gerard Kisbey-Green.
“Management is committed to achieving profitability at Kilimapesa during this financial year and I am confident that we will succeed. Furthermore, we continue to make positive progress at our recovery operations, both in terms of increasing operational capacity and in identifying new sources of material for processing at an international level.”