Goldplat plc (LON:GDP) booked a loss of £501,000 for the year to 30 June 2019, a steep drop from the £2.5mln profit booked last year.
The company had net cash of £1.8mln at the period end.
Sales at the South African gold recovery operations dropped from £22.7mln to £17.3mln, and operating profits from the recovery operations in both South Africa and Ghana dropped from £3.8mln to £1.5mln.
Goldplat’s mining and exploration arm returned a loss before tax of £1.9mln.
The mining operation has been put on care and maintenance, with limited processing currently undertaken, and so its operating losses have been stemmed.
The company also announced that Werner Klingenberg will now take on the role of chief executive on a permanent basis.