Aim-listed Goldplat, which has gold recovery operations in South Africa and Ghana, has reported an operating profit of £694 000 for the quarter ended March 31 – the third quarter of its 2025 financial year – compared with the £1.62-million operating profit reported for the third quarter of the 2024 financial year.

Its profit before tax also decreased to £769 000 for the quarter under review, compared with £890 000 in the prior comparable period.

Goldplat Recovery (South Africa) achieved an operating profit of £10 000, compared with £119 000 in the prior comparable quarter and a loss before tax of £15 000, compared with a profit before tax of £70 000 for the prior comparable quarter.

The performance of this operation continues to be impacted by a reduction in supply from current mining operations, Goldplat points out.

It notes that production remained stable in the quarter under review, benefitting from continuous improvement initiatives to increase recoveries. Strict cost control measures have also been implemented to conserve cash in the short term.

During the second quarter of the current financial year, a decision was made to send more material from South America to South Africa while Goldplat reduces stock levels in Ghana through new processing methods. 

Material which was received and processed in South Africa during the third quarter will be exported in the fourth quarter.

Further, Goldplat continues to process trial batches of platinum group metals (PGMs) to investigate the expansion of its capabilities and diversify the supply of material it can handle in South Africa, in line with the company's strategy to supplement gold recovery with PGMs.

"During the period, we have had encouraging engagements with gold producers in South Africa and we are confident that we will be able to increase our market share in South Africa during the fourth quarter and support the supply of by-products into the next financial period.

"Engagements with several parties for a tailing storage facility (TSF) project continued during the third quarter with the aim of getting all approvals completed by December. The processing of the old TSF remains dependent on the approval of the water-use licence by local authorities and approval from third parties in certain areas for the installation of a pipeline to the DRDGOLD processing facility. We also still need to agree commercials terms with DRDGOLD, which will be based on testwork and analysis which is ongoing," Goldplat states.

Meanwhile, the Goldplat Recovery Ghana (GRG) operations achieved an operating profit of £684 000 for the third quarter, compared with £1.5-million in the third quarter of the 2024 financial year. The operations also recorded a profit before tax of £784 000, compared with £820 000 in the prior comparable quarter.

Goldplat points out that it has already invested £900 000 thus far this financial year to increase GRG's capacity in the short term, after approval from the authorities was obtained for the expansion. 

"We expect to spend a further £200 000 over the next six months. This investment is required to increase plant capacity and to increase the recovery of gold from concentrate on site," the company says.

It also points out that, as announced in February, the Ghanaian government has implemented a new Gold Board to manage local gold production. 

"They have started implementing new measures, some of which require the sale of a percentage of dore in country and it will be important for us to constantly engage and build relationships with the Gold Board to ensure we can prepare for the changes and potential impact on our business," Goldplat highlights.

BRAZIL
Goldplat CEO Werner Klingenberg, meanwhile, highlights that the company is also continuing its investment to establish operations in Brazil.

Project planning and the placing of orders has started. 

"We plan on spending £200 000 during the next six to nine months from local proceeds to install spiral and other basic equipment to assist in cleaning and upgrading the material we source in South America," the company says.