Modern Mining October 2017

GOLD

Goldplat targets more primary gold production

AIM-listed Goldplat plc ranks as one of the more unusual gold producers in the world, with its revenue stream coming from two very distinct sources – one being the recovery of gold from by-products of the mining process and the other primary mining. While the recovery business currently accounts for the bulk of production, Goldplat CEO Gerard Kisbey-Green says that the company’s strategy is to increase its primary mining production. “Our goal is to have roughly half our ounces coming from direct mining within three years,” he says.

A ppointed as CEO in 2015, Kisbey- Green has presided over a turn- around in Goldplat’s fortunes af- ter the company posted losses in 2014 and 2015. In its recently re- leased results for the year ended 30 June 2017, Goldplat reported a 140 % increase in operating profit from continuing operations to £2,91 mil- lion (2016: £1,21 million) and a 43 % increase in profit before tax from continuing operations

to £2,84 million (2016: £1,99 million). Equiva- lent gold production for the year was 42 857 ounces, a 13,7 % increase on 2016. A standout feature of the 2017 financial year was the establishment of profitability at Goldplat’s only mining operation, the small Kilimapesa gold mine in Kenya. “This opera- tion made a loss over the year as a whole but it moved into profitability in the final two months of the reporting period, which reflects

Gerard Kisbey-Green.

Goldplat Recovery Ltd, South Africa (GPL) has ex- tensive facilities located on a 22 ha property in the Benoni area near the centre of the East Rand goldfield.

22  MODERN MINING  October 2017