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The Markets
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Gold & silver

Goldplat’s profits dip, margins rise, South African recovery operations performing strongly

Goldplat's profits rang in at a chunky £2.5mln, as increased margins partly compensated for lower production

Goldplat plc (LON:GDP) produced 35,431 gold equivalent ounces during the year to 30 June 2018, at higher margins.

The overall figure represents a 17% decrease over the previous year.

WATCH: Goldplat Plc focused on bringing in partner to develop Kilimapesa mine

Production at the recovery operations in Ghana and South Africa was lower, although production at the Kilimapesa mine in Kenya increased by more than 50%.

39,400 gold equivalent ounces were sold and transferred during the year, down slightly from the 40,285 ounces sold and transferred during 2017.

Overall revenue rose by 6.8% to £33.8mln, while profits, including a bad debt write-off, dropped by 13.8% to £2.5mln.

At the year end, Goldplat had net cash of £1.54mln.

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