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Interim Results

/ Ticker: GDP / Index: AIM / Sector: Mining & Exploration10 March 2014Goldplat plc


('' or 'the Company')Goldplat plcGoldplatInterim Results

, the AIM listed gold producer, announces its interim results for the six months ended ('H1 2014').Goldplat plc31 December 2013

Overview

Chairman's Statement

Our portfolio of assets consist of our primary market leading gold recovery operations in and , and three gold exploration and development mining assets in , and .South AfricaGhanaKenyaGhanaBurkina Faso

This has been a difficult period for the Company as we have adapted to the substantial reduction in the gold price experienced during the period under review.  Goldplat's income is dominated by the sale of gold.  The gold price for the six months ended averaged almost /oz and for the whole of the year ended approximately /oz.  For the six months ended however the price averaged some /oz.  It follows that the same volume of gold sales would result in income of some /oz less than for FY 2013.31 December 201230 June 201331 December 2013US$1,700US$1,600US$1,300US$300

exposure to the gold price is mitigated by the fact that it can, and does, adjust the price of gold bearing material it purchases, thus putting it at an advantage compared with a mine reliant on a finite orebody. However, this mitigation is not immediate in effect, as the Group tends to be processing stockpiles purchased some time previously. Furthermore the major part of costs are processing costs which do not vary with the gold price, rather tending to increase with inflation. In and the reduction in the local currencies has helped, but the main factors in the improving trading position are the cost control measures introduced by management.Coupled with the recent strengthening in the gold price, these measures reinforce the statement contained in the last annual report, that, while the first half was a difficult trading period, we expect improvements to show in H2 2014.Goldplat'sGoldplat'sSouth AfricaGhana

We have implemented a number of initiatives to improve processing costs and efficiencies, and in turn profitability. We obtained certification as a 'Responsible Gold' producer at our South African recovery operation, a major achievement which gives us an advantage over our competitors and which, we believe, will lead to increased business.  During the accreditation process, however, our ability to produce gold from by-products was impacted by deliveries from major suppliers awaiting the completion of the accreditation process, and this reduced production for the first half year.

In addition, in line with our longer-term growth strategy we continue to evaluate opportunities for expanding our gold recovery operations in and more specifically in ; however in the near-term we remain focussed on the operational profitability and success of our South African and Ghanaian operation before making such expansion moves.AfricaBurkina Faso

We are also reviewing different options to monetise our gold exploration and development mining assets in , and , be it through sale, development or joint venture opportunities. These projects were de-prioritised last year in order to stem losses and allow us to focus on building our revenue generating recovery operations.KenyaGhanaBurkina Faso

With the above developments in mind, our first half results are below those of the six months ended , resulting in an operating loss of £694,000 (2012: profit £2,057,000) and a loss before tax of £912,000 (2012: loss after impairment charge £814,000.) However, as noted, the second half of the year is already performing more strongly and we expect, in line with market expectations, to return to profitability by the year end.  31 December 2012

Gold Recovery Operations       

Our market leading gold recovery operations in and recover gold from by-products of the mining process, such as woodchips, mill liners, fine carbon, slags, sludges and waste grease.  In addition to generating revenues from gold sales from concentrates produced for the Company, our recovery services also provide an economic method for mines to dispose of waste materials while at the same time adhering to a mine's environmental obligations.  Our operations boast a substantial blue-chip supplier base from which we purchase mining by-products from which to recover gold, and also includes a mix of local producers and artisanal (primarily) in , where there is an active presence.South AfricaGhanaGhanaWest Africa

- ('GPL')Goldplat Recovery (Pty) LimitedSouth Africa

We were delighted to announce in that we had been accredited as a Responsible Gold depositor in line with international guidelines.   The accreditation was a major achievement for the Company and accounts for gold produced, which follows the 'Chain of Custody' requirements consistent with the and also adheres to the 'Responsible Gold Guidance' and the certification of 'Conflict-Free' gold.  Notably, we are the first secondary gold producer in to obtain this status, and we believe that with this accreditation in hand we offer a unique selling position that significantly differentiates us from competitors.  We believe that as a 'responsible gold' depositor and gold recovery services business, our business offering is enhanced and has the potential to positively impact future contracts, profits and cash flows for GPL.  During the due diligence period for gaining 'Responsible Gold' accreditation, was limited in accepting by-products from suppliers nor could concentrates be sent for further processing until accreditation was achieved, which resulted in a reduction of gold sales during H1 2014.  By-products and concentrates are now being delivered and revenues from by-product sources are expected to return to its usual levels in second half of FY 2014.  December 2013Organisation of Economic Co-operationLondon Bullion Market Association'sWorld Gold CouncilGoldplatSouth Africa

As previously highlighted, we have implemented a number of changes at GPL focussed on adapting to the current suppressed gold price environment.  To help mitigate the decrease in the gold price and boost operating margins, we have focussed on revising our by-product procurement contracts and cancelling lower grade by-product contracts with existing suppliers.  

Additionally, as previously announced, we have agreed to purchase cyanide direct from local suppliers in liquid form rather than importing in briquette form, and to automate the dosing system in order to reduce costs.  Since , we have achieved major cost savings in cyanide consumption and will increase these savings further by converting the plant to liquid cyanide supply during H2 2014.  These actions have improved margins and will result in an increased overall yield going forward.October 2013

We are also looking to increase our by-product processing throughput at GPL to help increase production.  In line with this, small sections of the plant, previously run on a single shift system for security reasons, will be run on 24 hour shifts to increase production, and additional security measures will be taken. This will be effective from .April 2014

To provide a source of high grade material for processing at our main plant in Benoni, , we obtained the right to mine ore from Central Rand Gold's ('CRG') Crown East No 4 shaft. Mining is undertaken by a third party contractor. This small scale operation has been operating profitably for the reporting period under review and we intend to continue the development and opening up of this project.Johannesburg

This constant investment in our recovery operations underpins our commitment to ensuring we maintain a competitive service offering and stronghold on gold recovery in the area at GPL.  The current depreciation in the South African Rand versus the US Dollar we believe will help to mitigate against the lower gold price environment in the H2 2014.  Nonetheless, with more favourable exchange rates, renegotiated and more cost-effective contracts, and more streamlined operations, we are confident that the operational and trading outlook for the second half of FY 2014 looks much stronger.

GRG's gold recovery operation, which enjoys a tax free status until 2016, is located in the free port of in .  Our GRG recovery operation is similar to our mature South African recovery plant as it processes by-products from the primary mining process. However, it has additional upside potential through processing artisanal tailings that it processes due to active artisanal mining presence.  Whilst GRG benefitted from a reduction in the value of the Ghana Cedi, which has helped offset the recent lower gold price environment, it still sustained marginal pressures, which impacted profitability during H1 2014.  However, in line with actions undertaken by the Board, during the latter part of H1 2014 and the second half of the year to date GRG has been performing well.- ('GRG')Gold Recovery Ghana LimitedGhana
TemaGhanaWest Africa's

As we have previously defined, GRG has three main profit centres.  The first of these is GRG's agreement with Endeavour Resources ('Endeavour') where tailings purchased by GRG from artisanal and small scale miners are processed by Endeavour. As highlighted in our operational and trading update on , we had experienced difficulties in procuring tailings at a commercial rate from artisanal and small scale miners due to high material prices and an increase in transport costs.  However we introduced measures to mitigate these factors by sourcing higher grade material closer to Endeavour's Nzema plant to reduce the transport costs, and by engaging with the to assist in our procurement programme and ensure that acceptable practices are adhered to.  The Government has also acted to curtail unlawful trading activities that have been sustained during the period.  17 January 2014Ghana Small Scale Mining Association

While challenges remain, procurement prices have substantially improved and tonnage production has increased, which should help to significantly enhance trading in the second half of the financial year ('H2 2014').

GRG's second profit centre is the carbon-in-leach section ('CIL') at . After the initial decision to close the CIL section in FY 2013, due to margin pressures sustained from procurement of sustainable by-products, GRG has begun to re-treat the tailings dam on site through the CIL circuit and is currently running at a profit.Tema

third profit centre at GRG is its incinerator section, which recovers high-grade gold from fine carbon and rubber mill liners from blue-chip mining clients.  It is our intention to significantly grow this profit centre.  During the first half of FY 2014 ('H1 2014), several new clients were successfully contracted to procure fine-carbon and rubber mill liner by-products, and existing contracts were renewed on more favourable terms.  As a result we have managed to increase our fine carbon business at GRG, which we expect to maximise production and profitability with the commissioning of an additional incinerator plant in H2 2014.Goldplat's

We also remain confident that we can expand the benefits gained from GRG's tax free status by acquiring material from the rest of and even outside , and this process has already commenced.AfricaAfrica

: Midas Gold SARL ('Midas')Burkina Faso

The Company intends to extend its gold reprocessing operations into under the name of Midas.  The Environmental Study for the site in Dano was completed at the end of , and the operating licence, expected to be in place by the end of 2013, has not yet been granted by the Government.Burkina FasoAugust 2013

Mining and Exploration

A strategic review was undertaken during 2013, which analysed main value drivers, growth potential and centres of profitability.  As a result of this we have de-prioritised our exploration and development assets, in order to stem losses and focus in the near-term on our growing, cash generative, niche gold recovery business.Goldplat's

In regards to our two greenfield gold exploration projects, which include the 29 sq km Anumso Gold Exploration licence located in the Amansie East and Asante Akim South Districts of the in , and the 246 sq km Nyieme project in the prospective Birimian Greenstone Belt in southern , we are continuing to evaluate opportunities to realise value or monetise these projects either through joint ventures or trade sales. We will update the market on these developments in due course.  Ashanti RegionGhanaBurkina Faso

Kilimapesa Gold -Kenya

wholly owned Kilimapesa gold mine is located in the historically productive Migori Archaean Greenstone Belt in western .  Kilimapesa has a mineral resource of 8,715,291 tonnes at 2.40 g/t Au for 671,446 oz Au at a cut-off of 1 g/t.  Goldplat'sKenya

The Kilimapesa mine is still operating at reduced levels to defray costs.  Kilimapesa continues to suffer losses, but, despite the lower gold price, the losses are at a much reduced rate.

The Board is currently evaluating its options for the future of Kilimapesa. New Kenyan legislation, which is expected to be published soon, will clarify rules for local participation. A recovery plan, which takes into account the expected local participation rules, has been submitted to the Government.   The Company is talking to potential joint venture partners to carry the capital costs for expansion. The Government has been supportive and has been willing to assist in this process.

Board Changes

The half year to saw substantial changes to the constitution of the board of directors. On it was announced that had stepped down from his position as CEO and that take over with immediate effect.31 December 201316 September 2013Russell LammingIan Visagie

In the management in was strengthened by the appointment of as an Executive Director. Hansie is a metallurgist who has already brought a new enthusiasm to the reprocessing business.December 2013JohannesburgHansie van Vreden

Also in joined the board as a non-executive director. Nigel is a mining engineer who has a wealth of experience in African mining. Finally, on 31 December Bob Pitts Smith reached his planned retirement date and stepped down from the Board, and was appointed Chief Operating Officer.September Nigel WyattHansie van Vreden

Share Options

On there were 21,200,000 share options outstanding. Of those, 4,500,000 were held by , part of a grant of 13,500,000 exercisable at 12.825p per share. The arrangements under which stepped down as a director provided for him to retain the 4,500,000 options which had already vested, but cancelled the balance of 9,000,000 options.1 July 2013Russell LammingMr Lamming

The other 16,700,000 were exercisable up to . Of those options 3,000,000 were held by key personnel at subsidiary level and, at the request of the holders, the date for exercise was extended to expire on . The 13,700,000 options held by directors and former directors lapsed31 December 201330 August 2018

Outlook

Our recovery operations in both and are currently trading profitably and at a rate which should more than eliminate the first half trading loss.   We also expect to be in a position to continue paying dividends.South AfricaGhana

ChairmanBrian Moritz

10 March 2014

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEFOR THE SIX MONTHES ENDED31 DECEMBER 2013

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAS AT31 DECEMBER 2013

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITYFOR THE SIX MONTHS ENDED31 DECEMBER 2012

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITYFOR THE SIX MONTHS ENDED30 JUNE 2013

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITYFOR THE SIX MONTHS ENDED31 DECEMBER 2013

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWSFOR THE SIX MONTHS ENDED31 DECEMBER 2013

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL REPORTFOR THE SIX MONTHS ENDED31 DECEMBER 2013

The information for the year ended does not constitute statutory accounts as defined in section 434 of the Companies Act 2006.  A copy of the statutory accounts for that year has been delivered to the Registrar of Companies.  The auditors reported on those accounts: their report was unqualified, did not draw attention to any matters by way of emphasis and did not contain a statement under section 498(2) or (3) of the Companies Act 2006.1.           General information
30 June 2013

2.           Basis of preparation

The annual financial statements of (the 'Company') are prepared in accordance with IFRSs as adopted by the .  The condensed financial statements included in this half-yearly financial report has been prepared in accordance with International Accounting Standard 34 'Interim Financial Reporting', as adopted by the .(a)         Statement of compliance
Goldplat plcEuropean UnionEuropean Union

The directors are satisfied that the Company has sufficient resources to continue in operation for the foreseeable future, a period of not less than 12 months from the date of this report.  Accordingly, they continue to adopt a going concern basis in preparing the consolidated financial statements.(b)         Going concern

The accounting policies applied by the Group in this condensed consolidated interim financial report are the same as those applied by the Group in its consolidated financial statements as at and for the year ended .3.           Significant accounting policies
30 June 2013

4.           Operating segments

Information about reportable segments

For the six months ended (unaudited)31 December 2013

For the six months ended (unaudited)31 December 2012

For the twelve months ended (audited)30 June 2013

Reconciliation of reportable segment profit or loss

The Group is not considered to be subject to seasonal fluctuations.5.          Seasonality of operations

Income tax expense is recognised based on management's best estimate of the weighted average annual income tax rate expected for the full financial year applied to the pre-tax income of the interim period.  The Group's consolidated effective tax rate in respect of continuing operations for the six months ended was 23% (six months ended : 24%; twelve months ended : 23.75%).  6.           Income tax expense
31 December 201331 December 201230 June 2013

7.           Property, plant and equipment

During the six months ended , the Group acquired assets with a cost, excluding capitalised borrowing costs of £536,000 (six months ended : £740,000; twelve months ended : £1,586,000).Acquisitions and disposals
31 December 201331 December 201230 June 2013

Assets with a carrying amount of £13,000 were disposed of during the six months ended (six months ended : £12,000; twelve months ended : £112,000), resulting in a loss on disposal of £nil (six months ended : £nil; twelve months ended : £29,000), which is included in 'administrative expenses' in the condensed consolidated statement of comprehensive income.31 December 201331 December 201230 June 201331 December 201230 June 2013

8.           Intangible assets and goodwill

9.       Pre-production expenditure

10.       Cash and cash equivalents

11.       Capital and reserves

The following dividends were declared and paid by the Company:Dividends

12.   Loans and borrowings

Six months ended (unaudited)31 December 2013

Six months ended (unaudited)31 December 2012

The provision relates to a requirement to rehabilitate the land owned in upon cessation of the mining lease.South Africa

As at , the Group had the following share options and warrants in issue.31 December 2013

Share options (equity-settled)

Reconciliation of outstanding share options

The weighted average remaining contractual life of the options outstanding as at is 4 years 244 days (: 1 year 55 days; : 1 year 181 days).31 December 201331 December 201230 June 2013

Reconciliation of outstanding share warrants

The weighted average remaining contractual life of the warrants outstanding as at is 0 days (: 1 years 0 days; : 184 days).31 December 201331 December 201230 June 2013

The fair values of financial instruments such as interest-bearing loans and borrowings, finance lease liabilities, trade and other receivables/payables are substantially identical to carrying amounts reflected in the statement of financial position.

On the Company issued 71,000 ordinary shares of 1p each at 7.04p per share as part of its arrangement with its joint broker .7 January 2014VSA Capital Limited

For further information visit or contact:www.goldplat.com

Notes:

, is an AIM-listed cash generative, debt free gold recovery services company with two market leading operations in and . The Company's strategy is focussed on utilising its robust cash flow generated from flagship gold recovery operations in to self-fund sustainable growth and expansion of niche gold recovery business model. The Company also has a small gold mining and exploration portfolio in , and and is evaluating various opportunities to create value or monetise these assets.Goldplat plcSouth AfricaGhanaAfricaKenyaBurkina FasoGhana

**ENDS**

  • Focussed on restructuring gold recovery and mining business in to be profitable in the changed economic environment   Goldplat'sAfrica

  • Weak gold prices impacted revenues for the period, but cost control measures across operations expected to improve revenues for H2 FY 2014 

  • First secondary gold producer in to obtain accreditation as a 'Responsible Gold' producer - opportunity for competitive advantage South Africa

  • Examining Joint Venture opportunities to redevelop Kilimapesa gold mine in subject to proposed Kenyan legislation Kenya

Notes6 months31-Dec-13(unaudited)£'000


6 months31-Dec-12(unaudited)£'000


12 months30-Jun-13(audited)£'000


Continuing operations
Revenue9,64515,48128,904
Cost of sales(9,394)(12,516)(24,338)
Gross profit2512,9654,566
Administrative expenses(945)(908)(1,927)
Results from operating activities(694)2,0572,639
Share based payments-(155)-
Finance income21761300
Finance costs(435)(404)(359)
Net finance cost(218)(343)(59)
Impairment of assets-(2,373)(2,373)
(Loss)/Profit before tax(912)(814)207
Taxation6-(419)(606)
(Loss) for the period(912)(1,233)(399)
Other comprehensive income
Exchange translation(2,040)(394)(792)
Other comprehensive (loss) for the period, net of tax(2,040)(394)(792)
Total comprehensive (loss) for the period(2,952)(1,627)(1,191)
(Loss)/Profit attributable to:
Owners of the Company(889)(1,460)(795)
Non-controlling interests(23)227396
(Loss)/Profit for the period(912)(1,233)(399)
Total comprehensive (loss) attributable to:
Owners of the Company(2,929)(1,854)(1,587)
Non-controlling interests(23)227396
Total comprehensive (loss) for the period(2,952)(1,627)(1,191)
Earnings per share - continuing operations
Basic earnings per share (pence)(0.54)(0.73)(0.24)
Diluted earnings per share (pence)(0.54)(0.73)(0.21)
Notes31-Dec-13(unaudited)£'000

31-Dec-12(unaudited)£'000

30-Jun-13(audited)£'000

Assets
Property, plant and equipment74,6024,4824,917
Intangible assets87,7268,6398,738
Pre-production expenditure92,2661,4071,613
Proceeds from sale of shares in subsidiary1,511761,960
Non-current assets16,10514,60417,228
Inventories4,4173,3064,437
Trade and other receivables4,2977,1314,759
Taxation150-297
Cash and cash equivalents106341,9512,362
Current assets9,49812,38811,855
Total assets25,60326,99229,083
Equity
Share capital111,6841,6841,684
Share premium11,49411,49411,494
Exchange reserve(4,274)(1,836)(2,234)
Retained earnings10,5539,72011,711
Equity attributable to owners of the Company19,45721,06222,655
Non-controlling interests1,4458371,525
Total equity20,90221,89924,180
Liabilities
Obligations under finance leases1219716140
Provisions13134172134
Deferred tax liabilities397460459
Non-current liabilities728648733
Taxation-34-
Obligations under finance leases12204107151
Trade and other payables3,7694,3044,019
Current liabilities3,9734,4454,170
Total liabilities4,7015,0934,903
Total equity and liabilities25,60326,99229,083
Attributable to owners of the Company
Sharecapital£'000

Share premium£'000
Exchange reserve£'000
Retained earnings£'000
Total£ '000
Non-controlling interests£'000
Total equity£'000
Balance at , as previously reported1 July 20121,67911,449(1,442)12,03523,72174224,463
Total comprehensive income for the period
Loss for the period---(1,460)(1,460)227(1,233)
Total other comprehensive income--(394)-(394)-(394)
Total comprehensive income for the period--(394)(1,460)(1,854)227(1,627)
Transactions with owners of the Company, recognised directly in equity
Dividends to owners of the Company---(1,010)(1,010)-(1,010)
Share based payments transactions---155155-155
Contributions by and distributions to owners of the Company
Issue of ordinary shares545--50-50
Total contributions by and distributions to owners of the Company545--50-50
Changes in ownership interests in subsidiaries
Non-controlling interests in subsidiary dividend-----(132)(132)
Total changes in ownership interests in subsidiaries-----(132)(132)
Total transactions with owners of the Company545--50(132)(82)
Balance at (unaudited)31 December 20121,68411,494(1,836)9,72021,06283721,899
Attributable to owners of the Company
Sharecapital£'000

Share premium£'000
Exchange reserve£'000
Retained earnings£'000
Total£ '000
Non-controlling interests£'000
Total equity£'000
Balance at1 January 20131,68411,494(1,836)9,72021,06283721,899
Total comprehensive income for the year
Loss for the period---665665169834
Total other comprehensive income--(398)-(398)-(398)
Total comprehensive income for the year--(398)665267169436
Transactions with owners of the Company recognised directly in equity
Contributions by and distributions to owners of the Company
Issue of ordinary shares-------
Investment by minorities-----627627
Dividends-------
Own shares acquired---(68)(68)-(68)
Share based payment transactions---(14)(14)-(14)
Total contributions by and distributions to owners of the Company---(82)(82)627545
Changes in ownership interests in subsidiaries
Disposal of interest in subsidiary with no change in control---1,4081,408-1,408
Non-controlling interests in subsidiary dividend-----(108)(108)
Total transactions with owners of the Company---1,3261,3265191,845
Balance at (audited)30 June 20131,68411,494(2,234)11,71122,6551,52524,180
Attributable to owners of the Company
Sharecapital£'000

Share premium£'000
Exchange reserve£'000
Retained earnings£'000
Total£ '000
Non-controlling interests£'000
Total equity£'000
Balance at1 July 20131,68411,494(2,234)11,71122,6551,52524,180
Total comprehensive income for the year
Loss---(889)(889)(23)(912)
Total other comprehensive income--(2,040)-(2,040)-(2,040)
Total comprehensive income for the year--(2,040)(889)(2,929)(23)(2,952)
Transactions with owners of the Company recognised directly in equity
Contributions by and distributions to owners of the Company
Dividends---(201)(201)-(201)
Share based payment transactions---1414-14
Total contributions by and distributions to owners of the Company---(187)(187)-(187)
Changes in ownership interests in subsidiaries
Disposal of interest in subsidiary with no change in control---(82)(82)-(82)
Non-controlling interests in subsidiary dividend-----(57)(57)
Total transactions with owners of the Company---(269)(269)(57)(326)
Balance at (unaudited)31 December 20131,68411,494(4,274)10,55319,4571,44520,902
Notes6 months31-Dec-13(unaudited)£'000


6 months31-Dec-12(unaudited)£'000


12 months30-Jun-13(audited)£'000


Cash flows from operating activities
Results from operating activities(694)2,0572,639
Adjustments for:
-  Depreciation170175361
-  Amortisation of intangible assets14(48)43
-  Loss on sale of property, plant and equipment--29
- Equity-settled share-based payment transactions14-141
  • Loss on disposal of mining rights 

-190-
-  Foreign exchange differences(459)(216)(253)
(955)2,1582,960
Changes in:
-  inventories201,21887
-  trade and other receivables462(1,268)1,104
-  trade and other payables(250)(1,889)(2,170)
-  provisions-(9)(47)
Cash generated from operating activities(723)2101,934
Interest received21761300
Interest paid(435)(390)(349)
Taxes paid-(359)(878)
Net cash from operating activities(941)(478)1,007
Cash flows from investing activities
Proceeds from sale of property, plant and equipment131283
Acquisition of mining rights-(366)(247)
Acquisition of property, plant and equipment(318)(673)(1,329)
Pre-production expenditure(173)(65)(583)
Net cash used in investing activities(478)(1,092)(2,076)
Cash flows from financing activities
Proceeds from issue of share capital-5050
Own shares purchased--(68)
Dividends paid                                                                                        (201)(1,010)(1,010)
Payment of finance lease liabilities12(108)(92)(114)
Net cash flows (used in) financing activities(309)(1,052)(1,142)
Net (decrease) in cash and cash equivalents(1,728)(2,622)(2,211)
Cash and cash equivalents at beginning of period2,3624,5734,573
Cash and cash equivalents at end of period106341,9512,362
Recovery operations£'000
Mining and exploration£'000
Adminis-tration£'000
External revenues9,374271-
Inter-segment revenues76--
Total revenues9,450271-
Reportable segment profit/(loss) before tax270(323)(859)
Segment assets12,0853,43710,079
Recovery operations£'000
Mining and exploration£'000
Adminis-tration£'000
External revenues15,153328-
Inter-segment revenues6--
Total revenues15,159328-
Reportable segment profit/(loss) before tax2,826(415)(852)
Segment assets14,5786,3606,054
Recovery operations£'000
Mining and exploration£'000
Adminis-tration£'000
External revenues28,105799-
Inter-segment revenues462--
Total revenues28,567799-
Reportable segment profit/(loss) before tax4,716(3,493)(1,016)
Segment assets14,1796,9067,998
6 months31-Dec-13(unaudited)£'000


6 months31-Dec-12(unaudited)£'000


12 months30-Jun-13(audited)£'000


Total profit/(loss) for reportable segments before tax(912)(814)207
Elimination of inter-segment profits---
Profit before tax(912)(814)207
6 months31 Dec 13(unaudited)£'000


6 months31 Dec 12(unaudited)£'000


12 months30 Jun 13(audited)£'000


Cost
Balance at beginning of period9,0088,9438,943
Additions-366247
Disposals-(202)-
Transfers from property , plant and equipment--3
Transfers to pre-production expenditure-(360)5
Part disposal of subsidiary company--(149)
Foreign exchange translation(197)(57)(41)
Balance at end of period8,8118,6909,008
Amortisation and impairment losses
Balance at beginning of period2703434
Amortisation142943
Amortisation on disposals-(12)(18)
Impairment for the year--211
Impairment transferred from pre-production expenditure806--
Foreign exchange translation(5)--
Balance at end of period1,08551270
Carrying amounts
Balance at end of period7,7268,6398,738
Balance at beginning of period8,7388,9098,909
6 months31-Dec-13(unaudited)£'000


6 months31-Dec-12(unaudited)£'000


12 months30-Jun-13(audited)£'000


Cost
Balance at beginning of period3,9303,2823,282
Expenditure incurred17365583
Transfers from intangible assets-360(5)
Effect of movements in exchange rates(326)7370
3,7773,7803,930
Amortisation and impairment losses
Balance at beginning of period2,3177777
Amortisation reversed-(77)(77)
Impairment-2,3732,257
Impairment transferred to exploration and development(806)--
Effect of movement in exchange rates--60
1,5112,3732,317
Carrying amounts
Balance at end of period2,2661,4071,613
Balance at beginning of period1,6133,2053,205
6 months31-Dec-13(unaudited)£'000


6 months31-Dec-12(unaudited)£'000


12 months30-Jun-12(audited)£'000


Bank balances5981,9082,322
Short term bank deposits364340
6341,9512,362
Bank overdrafts used for cash management purposes---
Cash and cash equivalents in the statement of cash flows6341,9512,362
   Issue of ordinary sharesNumber of ordinary shares
6 months31-Dec-13(unaudited)

6 months31-Dec-12(unaudited)

12 months30-Jun-13(audited)

On issue at beginning of period168,370,000167,870,000167,870,000
Issued for cash-500,000500,000
On issue at end of period168,370,000168,370,000168,370,000
Authorised -  par value £0.011,000,000,0001,000,000,0001,000,000,000
   Issue of ordinary sharesOrdinary share capital
6 months31-Dec-13(unaudited)

6 months31-Dec-12(unaudited)

12 months30-Jun-13(audited)£'000


On issue at beginning of period1,6841,6791,679
Issued for cash-55
On issue at end of period1,6841,6841,684
6 months31-Dec-13(unaudited)£'000


6 months31-Dec-12(unaudited)£'000


12 months30-Jun-13(audited)£'000


per qualifying ordinary share (six months ended : ; twelve months ended : )0.12 pence0.60 pence0.60 pence
31 December 201230 June 2013
2011,0101,010
CurrencyInterestratenominal

Face value£'000
Carrying amount£'000
Year of maturity
Balance at1 July 2013291
New issues218
Repayments
Finance lease liabilitiesZAR9%(108)(108)-
Balance at31 December 2013401
CurrencyInterestratenominal

Face value£'000
Carrying amount£'000
Year of maturity
Balance at1 July 2012150
New issues-
Repayments
Unsecured bank facilityZAR9%(2)(2)-
Finance lease liabilitiesZAR9%(25)(25)-
Balance at31 December 2012123
CurrencyInterestratenominal

Face value£'000
Carrying amount£'000
Year of maturity
Balance at1 July 2012150
New issues257
Repayments
Unsecured bank facilityZAR9%(2)(2)
Finance lease liabilitiesZAR9%(114)(114)
Balance at30 June 2013291
6 months31 Dec 13(unaudited)£'000


6 months31 Dec 12(unaudited)£'000


12 months30 Jun 13(audited)£'000


Environmental obligation
Balance at beginning of period134181181
Provisions made during the period-(5)(32)
Unwind of discount-610
Foreign exchange translation-(10)(25)
134172134
6 months ended31-Dec-13(unaudited)

6 months ended31-Dec-12(unaudited)

Number of optionsExercise priceNumber of optionsExercise price
Outstanding and exercisable at beginning of period
21,200,00010.00p17,200,00010.00p
Exercised in period-10.00p(500,000)10.00p
Option grant to R Lamming
1 September 2012
-12.825p13,500,00012.825p
Lapsed in period(13,700,000)
Outstanding and exercisable at end of period7,500,00030,200,000
12 months ended30-Jun-13(audited)

Number of optionsExercise price
Outstanding and exercisable at beginning of period
17,200,00010.00p
Granted during the year13,500,00012.825p
Lapsed - will not vest(9,000,000)12.825p
Exercised during the year(500,000)10.00p
Outstanding and exercisable at end of period21,200,000
6 months ended31-Dec-13(unaudited)

6 months ended31-Dec-12(unaudited)

Number of warrantsExercise priceNumber of warrantsExercise price
Outstanding and exercisable at beginning of period
1,671,20010.00p-
Granted in period1,671,20010.00p
Lapsed in period(1,671,200)
Outstanding and exercisable at end of period-1,671,200
12 months ended30-Jun-13(audited)

Number of warrantsExercise price
Outstanding and exercisable at beginning of period
1,671,20010.00p
Outstanding and exercisable at end of period1,671,200
,  CEOIan VisagieGoldplat plcTel: +27 (82) 671 2078
/          Ewan LeggatKaty BirkinSP Angel Corporate Finance LLPTel: +44 (0) 20 3463 2260
/Andrew RacaJustin McKeeganVSA CapitalTel: + 44 (0)20 3005 5000
/Felicity EdwardsCharlotte HeapSt Brides Media & Finance LtdTel: +44 (0) 20 7236 1177
This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.Source: via

Goldplat plcGlobenewswire

HUG#1767380






  1. Provisions 

  1. Share options and warrants 

  1. Fair values 

  1. Subsequent events 


Quick facts: Goldplat PLC

Price: 7.4

Market: AIM
Market Cap: £12.56 m
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