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Latest quarterly results show Goldplat’s production rate is now back at normal levels

Goldpat recovers part of its gold and gold-equivalent material from old mining equipment
Latest quarterly results show Goldplat’s production rate is now back at normal levels
Gold sales rose significantly

Goldplat plc (LON:GDP) boosted production of gold equivalent ounces in the three months to December 2018 by 57% to 9,648 ounces.

There was also a 16% year-on-year increase in gold equivalent ounces sold and transferred during the quarter.

WATCH: Goldplat Plc 'back to normal recovery rates' after challenging few quarters

Production levels at Goldplat Recovery have now returned to normal levels, with both the by-product sections as well as the carbon-in-leach circuits exceeding planned production.

Production at Gold Recovery Ghana improved on the previous quarter as a number of local Ghanaian contracts were processed. There was also increased sourcing from South America.

During the quarter a major West African client with substantial material available from a number of operations agreed to send a trial batch of material to Gold Recovery Ghana and this is expected to be processed during the current quarter, as soon as export logistics and legalities have been finalised.

Sourcing sufficient quantities of material for processing in Ghana remains erratic and an area of strategic priority.

At the Kilimapesa in Kenya, production was further reduced, according to plan. This mine was due to be put on a care and maintenance regime if a source of outside funding could not be found. However, progress in respect of a possible transaction has enabled Goldplat to take the decision not to proceed to care and maintenance to date.

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Goldplat plc Timeline

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