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Goldplat PLC

Interim Results

/ Ticker: GDP / Index: AIM / Sector: Mining & Exploration20 February 2017Goldplat plc


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

, the AIM listed gold producer, with international gold recovery operations located in and and a gold mine in , announces its interim results for the six months ended .Goldplat plcSouth AfricaGhanaKenya31 December 2016

Overview

Chairman's Statement

I am delighted to report that has continued to improve its profitability during the period under review.  Our portfolio of core assets consists of two gold recovery operations in and , recovering gold from by-products of the mining process and the Kilimapesa gold mine in Kenya. GoldplatSouth AfricaGhana

Key issues and initiatives during the period under review have been the implementation of the decision to proceed with an additional, larger, processing plant at Kilimapesa; the renewal of the gold license in ; progress towards the conclusion of the dispute with the ; continued focus on sourcing of material including progress on the evaluation of the viability of importing material from , and seeking resolution on the tax claim by the Kenyan Revenue Authorities over Kilimapesa.GhanaRand RefinerySouth America

I am pleased to report a profit before tax of £1,334,000 for the six months ended . This marks a 238% increase from the £395,000 reported for the comparable six-month period ended and compares extremely favourably to the £1,942,000 we reported for the full year (FY 2016). At the operating level the profit was £1,009,000 (compared to an operating profit of £245,000 for the six months ended and an operating profit of £1,172,000 for FY 2016). Cash and cash equivalents at the end of the period stood at £885,000 (compared to £729,000 at the end of and £2,148,000 at end of FY 2016).                 31 December 201631 December 201531 December 2015December 2015

With regard to group production and sales, overall gold and gold equivalent production for the six-month period ended was 21,317 ounces (compared to 17,457 ounces produced in the period ended and 37,666 ounces produced in FY 2016). Total gold and gold equivalent sold and transferred for the period was 16,653 ounces (compared to 17,875 ounces in the period ended and 40,763 ounces in FY 2016). The difference between the gold and gold equivalent produced and the total gold and gold equivalent sold and transferred during the six months ended is primarily a result of the material being held back in pending the renewal of the Gold License, which was received on . The following table summarises gold production, transfers and sales for the period per operation:31 December 201631 December 201531 December 201531 December 201623 December, 2016Ghana

('GPL'),Goldplat Recovery (Pty) LtdSouth Africa

Key initiatives for the period at GPL:

Production of 12,539 ounces of gold and gold equivalents for the six-month period ended was up when compared to the 11,831 ounces of gold and gold equivalents for the six months ended but down compared to the 28,778 ounces of gold and gold equivalents produced during FY 2016. However, based on the amount of consignment material on site and the production schedule the produced ounces for the FY 2017 is expected to exceed that of FY 2016.31 December 2016December 2015

The Independent review of the dispute is nearing completion, and the board remains confident of a favourable outcome.Rand Refinery

Discussions continue to progress regarding the use of an old disused open-pit, on land adjacent to our plant, for tailings deposition.  All stakeholders have agreed to sterilise the open-pit adjacent to our plant, and the has agreed to issue a directive for the pit to be used for tailings deposition. It is our plan that the pit will be used as a final deposition site for current production and will also enable the reprocessing of the estimated 80,000 ounces of gold resource in our stock dams. Final approval is expected during FY2017. Department of Mineral Resources

Towards the end of the interim period changed the repayment terms of our contracts and GPL is in the process of re-negotiating terms with suppliers to mitigate the effects of these changes. This process is proceeding well and continues.Rand Refinery

As a result of the strengthened Strategic Sourcing team, smaller precious metal producers are now being visited to source by-products in addition to those received from the large mining companies. Volumes at the smaller operators are lower compared to the larger mining companies but increases our footprint as service provider of choice.

Goldplat Recovery Ghana ('GRG'),Ghana

Key initiatives during the period at GRG:

Production for the six months to was 7,588 ounces of gold and gold equivalents (compared to a total of 6,883 ounces produced during FY2016 and 4,694 ounces produced for the six months to ).  Gold and gold equivalents sold during the period amounted to 2,443 ounces (compared to 8,964 ounces during FY2016 and 5,626 ounces for the six months to ). The decrease in sales was due to GRG keeping back containers which were ready for export pending the renewal of the gold license.31 December 201631 December 201531 December 2015

The gold license was renewed and officially signed on the 23 of by the Honourable Minister (announcement ). The licence is valid for a period of three (3) years provided certain milestones are achieved relating to the construction of an elution plant.rdDecember 201620 December, 2016

One of the two spare 4-tonne elution columns acquired from DRD Gold (together with the 4-tonne elution column installed at GPL in FY 2016), will be installed in . The costing of the project has not been completed, but is estimated to be around . The new license conditions require that the elution plant be commissioned by . Planning of the project is in progress and initial shipments of materials and equipment were made during the period.GhanaUSD2,000,000June 2018

During the period under review, roughly one third of the decommissioned tailings storage facility was successfully removed as part of our rehabilitation plan for the site. This process is ongoing and once completed will have addressed an environmental rehabilitation requirement, and will free up a significant land footprint to be utilised by GRG for additional plant as and when required.

Marketing efforts in are focussed on expanding our client base in .GhanaWest Africa

In addition to treating material from within the region, we plan to position our Ghanaian plant as an international hub to treat material from other parts of and in the medium term. Proposals sent to clients in are currently pending and we look forward to providing feedback during the next operational update. Trials on material from are ongoing and continue to yield positive resultsAfricaSouth AmericaSouth AmericaSouth America

Kilimapesa Gold

Significant progress has been made at our Kilimapesa gold mine in this period. Production of 1,190 ounces of gold and gold equivalents for the six-month period ended was up when compared to the 932 ounces for the six months ended and 2,005 ounces for FY 2016.  The increase in production is a result of improved efficiencies in the existing plant.31 December 2016December 2015

The decision was taken during FY2016 to invest in increased processing capacity at Kilimapesa in order to bring the operations to profitability, including the construction of an additional processing plant, in three discrete stages, and a new tailings facility both in close proximity to the Kilimapesa Hill. This has been the focus of attention during the six-month period and progress on the key work streams to achieve this turnaround have included:

The underground workings at Kilimapesa Hill are being prepared for the increased production levels required to maintain plant throughput at the new plant once fully commissioned. This has included comprehensive sampling and mapping of all existing underground workings in order to create a 3-D model for planning purposes. A Kempe drill was procured for underground exploration drilling - this will be commissioned once a new compressor has been acquired and delivered to site.

At Kilimapesa Hill, good progress was made with underground development: In , vein three was intersected and a fourth vein was found. Drives East and West on vein three were started. Fourteen working places are now available which, given correct machinery and labour, should provide the ability to develop ore blocks quickly enough to allow development to stay ahead of production. A front-end loader has been procured and should be commissioned during H2 2017.Adit Bull

The second outlet at Teng-Teng was completed and a mono-winch installed which will allow limited underground exploration to continue whilst the incline shaft is deepened and arrangements are made for direct tipping of ore into a hopper in the incline. Application for a mining license at Teng-Teng will begin during H2 FY2017.

Aside from the current operational initiatives, talks with potential investors or joint venture partners continue, primarily with the aim of procuring additional resources within the region and for further exploration drilling to increase the resource on Kilimapesa's exploration permit.

Investment in the new processing facility at Kilimapesa has been funded (apart from limited equipment leases) from within subsidiaries and various forms of debt capital raising are being contemplated to repay these loans and restructure the group balance sheet.Goldplat plc's

Preliminary findings by the ("KRA") on the 2010 to 2013 tax affairs has been resolved and the principle amount of £58,000 has been settled during the period.Kenyan Revenue Authority

Exploration and Development Portfolio

An earn-in option agreement over the in was concluded with TSX-listed Ashanti Gold Corp during the period (see announcement of ). The agreement provides Ashanti with the exclusive option to earn 75% of 90% interest in Anumso in two instalments expending an aggregate of on the project. Ashanti have a 6-month due diligence period during which they have the right to terminate the agreement. This period ends in .Anumso Gold ProjectGoldplat'sGhana15 September 2016mid-March 2017US$3,000,000

Various parties are reviewing the Nyieme project in and any progress in this regard will be communicated if and when appropriate.Burkina Faso

Outlook

Significant progress can be reported subsequent to :31 December 2016

Conclusion

The focus, enthusiasm and ambition of management team has continued to deliver strong improvements in production and financial results, with good progress on key initiatives.  We are mindful that this progress is made with the assistance of our partners in , and and we believe in turn is making a significant contribution in terms of employment, skills transfer and fiscal contribution.  Focus for the remainder of FY2017 will be on completion of Stage two of the new plant at Kilimapesa; concluding the strategy for sourcing material in and to deliver the growth strategy for GRG; and continuing to seek efficient and acceptable alternative sources of debt capital to enable repayment of goods and services to Group subsidiaries and to restructure the Group balance sheet. Goldplat'sGoldplatSouth AfricaKenyaGhanaSouth AmericaWest Africa

ChairmanMatthew Robinson

20 February 2017


GOLDPLAT PLC

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOMEFOR THE SIX MONTHES ENDED31 DECEMBER 2016


GOLDPLAT PLC

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITIONAS AT31 DECEMBER 2016

The notes below are an integral part of this condensed consolidated interim financial report.

The financial statements of , company number 05340664, were approved by the Board of Directors and authorised for issue on .  They were signed on its behalf by:Goldplat plc20 February, 2017

, Financial DirectorIan Visagie

GOLDPLAT PLC

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE SIX MONTHS ENDED31 DECEMBER 2015

GOLDPLAT PLC

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITYFOR THE SIX MONTHS ENDED31 DECEMBER 2015 

GOLDPLAT PLC

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITYFOR THE SIX MONTHS ENDED30 JUNE 2016

The notes below are an integral part of this condensed consolidated interim financial report.

GOLDPLAT PLC

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWSFOR THE SIX MONTHS ENDED31 DECEMBER 2016

The notes below are an integral part of this condensed consolidated interim financial report.

GOLDPLAT PLC

NOTES TO THE CONDENSED CONSOLIDATED INTERIM FINANCIAL REPORTFOR THE SIX MONTHS ENDED31 DECEMBER 2016

             

            This condensed consolidated interim financial information does not comprise statutory accounts within the meaning of section 434 of the Companies Act 2006.  Statutory accounts for the year ended were approved by the Board of Directors and have been delivered to the Registrar of Companies.  The audit report 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.                                                The annual financial statements of (the 'Company') are prepared in accordance with IFRSs as adopted by the .  The condensed consolidated set of 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 .30 June 2016





2. Basis of preparation
a. Statement of complianceGoldplat 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 in this condensed consolidated interim financial report are the same as those applied in the Group's consolidated financial statements as at and for the year ended .             30 June 2016
 

             Information about reportable segments            


For the six months ended (unaudited)31 December 2016 

   For the six months ended (unaudited)31 December 2015

For the twelve months ended (audited)30 June 2016

                          

            The Group is not considered to be subject to seasonal fluctuations.                          

            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 20.00% (six months ended : 20.00%; twelve months ended : 20.00%). 31 December 201631 December 201530 June 2016

                                    During the six months ended , the Group acquired assets with a cost, excluding capitalised borrowing costs of £1,377,000 (six months ended : £623,000; twelve months ended : £1,365,000).                         Assets with a carrying amount of £13,000 were disposed of during the six months ended (six months ended : £73,000; twelve months ended : £156,000), resulting in a loss on disposal of £8,000 (six months ended : £39,000; twelve months ended : £62,000), which is included in 'administrative expenses' in the condensed consolidated statement of comprehensive income.                            Acquisitions and disposals





31 December 201631 December 201530 June 201631 December 201631 December 201530 June 201631 December 201530 June 2016

                          

             

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

                         Six months ended (unaudited)31 December 2016

            Six months ended (unaudited)31 December 2015

                         Twelve months ended (audited)30 June 2016

             

                         Six months ended (unaudited)31 December 2016

            Six months ended (unaudited)31 December 2015

                         Twelve months ended (audited)30 June 2016

             

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

Reconciliation of outstanding share options

The weighted average exercise price of the exercisable options is £0.0660 (: £0.0864; : £0.0660).31 December 201530 June 2016

The weighted average remaining contractual life of the options outstanding as at is 3 years 112 days (: 1 year 360 days; : 3 years 292 days).31 December 201631 December 201530 June 2016

                         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.                                      18.             Fair values**ENDS**




                         For further information, visit , follow on Twitter @GoldPlatPlc or contact:
www.goldplat.com

                         The information contained within this RNS is considered to be inside information prior to its release.                                     is an AIM quoted gold recovery services company with two market leading operations in and Ghana.  The Company's strategy is focussed on utilising cash flow generated from its flagship gold recovery operations to self-fund the sustainable growth and expansion of its niche gold recovery business model. At the Company's gold recovery operations is targeting greater market exposure through the sourcing of new material, both from the wider African continent and internationally, for processing at its established recovery operations.  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.                          






 About Goldplat                                                                                         Goldplat plcGoldplatSouth AfricaKenyaBurkina FasoGhana

  • Continued increase in profitability with a profit before tax of £1,334,000 for the six months ended (6 months ended : profit of £395,000)31 December 201631 December 2015
  • Overall gold and gold equivalent production for the six-month period of 21,317 ounces (six months ended : 17,457 ounces)31 December 2015
  • 16,653 gold equivalent ounces were sold and transferred during the six months ended (six months ended : 17 875 ounces)31 December 201631 December 2015
  • Completion of installation of the first stage of the new processing plant atKilimapesa Mine
  • Resolution of the preliminary findings by the Kenyan Revenue Authorities into specific Kilimapesa tax affairs
  • The renewal of the gold license at Gold Recovery Ghana for the standard period of three (3) years
  • Sourcing of sufficient quantity of the right quality material
  • Resolution of the disputeRand Refinery
  • Progressing discussions regarding the use of an old disused pit on adjacent land, for tailings deposition
  • Renegotiation of contracts with most clients to mitigate the effect of changes introduced byRand Refinery
  • Renewal of the gold licence
  • Removal of material from on-site tailings dump to address rehabilitation requirements and create significant space for plant expansion
  • Sourcing of material, including the evaluation of the viability of importing material fromSouth America
  • The shipment to Kilimapesa and installation of substantial parts of the Ghanaian plant during the period under review.
  • The purchase of two matching used mills, one of which was installed at the new plant (with the second planned to be installed during stage three and the mill from serving as a spare).Ghana
  • The completion of stage one installation, which does not include the crusher circuit, during the period with commissioning having commenced on .23 December, 2016
  • Establishing a stockpile of crushed material suitable and sufficient for processing through the new plant until stage two commissioning is completed.
  • Starting the construction of the civils and fabrication of three additional carbon-in-leach ("CIL") tanks for installation and commissioning with the crusher circuit during stage two which is planned for completion in .  (The second mill together with a further three additional CIL tanks will be installed in Stage three, potentially during H1 2018 to bring total processing capacity to 6,000 tonnes per month)April 2017
  • The construction of the new tailings facility progressed well during the period with the key cut and a borrow-pit being completed - sufficient for commissioning of stage one of the new plant and for production during stage two installation and commissioning.
  • A tailings consultant assisted in the re-design of the tailings facility at the existing plant, increasing the life of this facility to six-nine months. This is expected to allow for production at the current plant to continue at improved recovery efficiencies and better profitability during FY 2017.
  • The independent expert appointed to review the Rand Refinery Silver project submitted his report to the two parties in and good progress was made at a working meeting with to consider the findings of the report.February 2017Rand Refinery
  • Commissioning of the first stage of the new processing plant at Kilimapesa was completed on and the plant was officially opened by the Cabinet Secretary for Mining, , Honourable Dan Kazungu, on6 February 201715 February, 2017Kenya
  • The material held in , pending issuance of the renewed Gold License, was all shipped duringGhanaJanuary 2017
  • Initial planning and design work for the installation of an elution plant at GRG began following the renewal of the Ghanaian gold license (see announcement of )20 December, 2016
  • A further extensive trip to was completed in . A report will now be compiled which will be used to determine strategy for potential sourcing of material into GRG and potentially GPL.South AmericaJanuary 2017Goldplat's
Goldplat Plc Consolidated 6 Months December 2016 Equivalent Gold oz



6 Months December 2015 Equivalent Gold oz

12 Months ending June 2016 Equivalent Gold oz

Gold and gold equivalent Production   
Gold Recovery Ghana7 5884 6946 883
Kilimapesa Gold1 1909322 005
Goldplat Recovery12 53911 83128 778
Total21 31717 45737 666
Gold and gold equivalent Sold   
Gold Recovery Ghana2 44356268 964
Kilimapesa Gold1 0939321 999
Goldplat Recovery9 8388 19816 575
Total13 37414 75627 538
Gold and gold equivalent Transferred   
Goldplat Recovery3 2793 11913 225
Total3 2793 11913 225
Gold and gold equivalent Sold and Transferred   
Gold Recovery Ghana2 4435 6268 964
Kilimapesa Gold1 0939321 999
Goldplat Recovery13 11711 31729 800
Total16 65317 87540 763
       Notes

 6 months31-Dec-16(unaudited)£'000


 6 months31-Dec-15(unaudited)£'000


 12 months30-Jun-16(audited)£'000


Continuing operations          
Revenue       14,415 10,673 20,185
Cost of sales      (12,293) (9,472) (17,177)
Gross profit       2,122 1,201 3,008
           
Administrative expenses     (1,113) (956) (1,836)
Results from operating activities   1,009 245 1,172
           
Finance income     614 171 809
Finance costs     (289) (21) (39)
Net finance income   325 150 770
         
Income before tax     1,334 395 1,942
           
Taxation   6 (401) (203) (534)
Income for the period   933 192 1,408
         
Other comprehensive income/(expense)      
Exchange translation 1,184 (511) 489
Other comprehensive income/(expense) for the period, net of tax1,184 (511) 489
         
Total comprehensive income/(loss) for the period 2,117 (319) 1,897
         
Income/(Loss) attributable to:        
Owners of the Company   742 (11) 946
Non-controlling interests   191 203 462
Income for the period   933 192 1,408
         
Total comprehensive income/(loss) attributable to:     
Owners of the Company   1,926 (522) 1,435
Non-controlling interests   191 203 462
Total comprehensive income/(loss) for the period 2,117 (319) 1,897
         
Earnings per share - continuing operations      
Basic earnings per share (pence)    0.56 0.11 0.84
Diluted earnings per share (pence)   0.51 0.10 0.76
        Notes



 31-Dec-16(unaudited)£'000

 31-Dec-15(unaudited)£'000

 30-Jun-16(audited)£'000

Assets          
Property, plant and equipment   7 7,079 4,475 5,404
Intangible assets   8 9,825 9,389 9,726
Proceeds from sale of shares in subsidiary  1,480 1,093 1,271
Non-current cash deposit     194 218 160
Non-current assets     18,578 15,175 16,561
           
Inventories   9 11,719 8,063 7,747
Trade and other receivables   10 8,880 4,773 6,255
Cash and cash equivalents   11 885 729 2,148
Current assets     21,484 13,565 16,150
           
Total assets     40,062 28,740 32,711
           
Equity          
Share capital   12 1,675 1,685 1,675
Share premium     11,441 11,498 11,441
Exchange reserve     (5,034) (7,218) (6,218)
Retained earnings     11,711 9,873 10,953
Equity attributable to owners of the Company   19,793 15,838 17,851
           
Non-controlling interests     2,437 1,984 2,246
Total equity     22,230 17,822 20,097
           
Liabilities          
Obligations under finance leases 13 214 161 157
Provisions   15 445 106 383
Deferred tax liabilities     594 452 510
Non-current liabilities     1,253 719 1,050
           
Taxation     367 30 153
Interest bearing borrowings   14 - 91 55
Obligations under finance leasesBank overdraft
 1311
 18650
 129-
 12992
Trade and other payables   16 15,976 9,949 11,135
Current liabilities     16,579 10,199 11,564
           
Total liabilities     17,832 10,918 12,614
           
Total equity and liabilities     40,062 28,740 32,711
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 2015 1,685 11,498 (6,707) 9,868 16,344 1,893 18,237 
                  
Total comprehensive income for the period               
Profit for the period    - - - (11) (11) 203 192 
Total other comprehensive income   - - (511) - (511) - (511) 
Total comprehensive income for the period - - (511) (11) (522) 203 (319) 
                   
Transactions with owners of the Company, recognised directly in equity            
                  
Contributions by and distributions to owners of the Company            
Share based payment transactions   - - - 16 16 - 16
Total contributions by and distributions to owners of the Company   - - - 16 16 - 16
                  
Changes in ownership interests in subsidiaries              
Non-controlling interests in subsidiary dividend - - - - - (112) (112)
Total transactions with owners of the Company - - - - - (112) (112)
                  
Balance at (unaudited)31 December 2015  1,685 11,498 (7,218) 9,873 15,838 1,984 17,822
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 2016    1,685 11,498 (7,218) 9,873 15,838 1,984 17,822
Total comprehensive income for the period              
Profit for the period    - - - 957 957 259 1,216
Total other comprehensive income   - - 1,000 - 1,000 - 1,000
Total comprehensive income for the period  - - 1,000 957 1,957 259 2,216
                  
Transactions with owners of the Company recognised directly in equity           
                 
Contributions by and distributions to owners of the Company            
Share based payment transactionsCancellation of treasury shares
   

 -(10)
 -(57)
 --
 5667
 56-
 --
 56-
 Total contributions by and distributions to owners of the Company 



   (10) (57) - 123 56 - 56
Changes in ownership interests in subsidiaries               
Non-controlling interests in subsidiary dividend - - - - - 3 3 
Total transactions with owners of the Company - - - - - 3 3 
                   
Balance at (audited)30 June 2016  1,675 11,441 (6,218) 10,953 17,851 2,246 20,097 
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 2016    1,675 11,441 (6,218) 10,953 17,851 2,246 20,097
Total comprehensive income for the period                
Profit for the period    - - - 742 742 191 933
Total other comprehensive income   - - 1,184 - 1,184 - 1,184
Total comprehensive income for the period   - - 1,184 742 1,926 191 2,117
                  
Transactions with owners of the Company recognised directly in equity           
                 
Contributions by and distributions to owners of the Company            
Share based payment transactions   - - - 16 16 - 16
Total contributions by and distributions to owners of the Company   - - - 16 16 - 16
                  
Changes in ownership interests in subsidiaries              
Non-controlling interests in subsidiary dividend - - - - - - -
Total transactions with owners of the Company - - - - - - -
                  
Balance at (unaudited)31 December 2016  1,675 11,441 (5,034) 11,711 19,793 2,437 22,230
    
        Notes



 6 months31-Dec-15(unaudited)£'000


 6 months31-Dec-15(unaudited)£'000


 12 months30-Jun-16(audited)£'000


 
Cash flows from operating activities           
Results from operating activities     1,009 261 1,172 
Adjustments for:           
-  Depreciation     327 220 514 
-  Amortisation     112 90 192 
-  Loss on sale of property, plant and equipment   8 39 62 
-  Equity-settled share-based payment transactions  16 16 72 
-  Foreign exchange differences   161 (374) (421) 
      1,633 252 1,591 
Changes in:           
-  inventories     (3,972) (336) (20) 
-  trade and other receivables     (2,625) (1,468) (2,950) 
-  trade and other payables     4,841 2,393 3,579 
-  provisions     62 (15) 244 
Cash generated from/(used in)  operating activities  (61) 826 2,444 
            
Finance income     614 171 809 
Finance cost     (289) (21) (39) 
Taxes paid     (138) (146) (342) 
Net cash from/(used in) operating activities   126 830 2,872 
            
Cash flows from investing activities           
Proceeds from sale of property, plant and equipment   5 34 94 
Enhancement of exploration and development asset   - (59) (110) 
Acquisition of property, plant and equipment   (1,160) (623) (1,284) 
Non-current cash deposit     (34) 15 73 
Net cash used in investing activities     (1,189) (633) (1,227) 
            
Cash flows from financing activities           
Payment of interest bearing borrowings  (55) (69) (105) 
Payment of finance lease liabilities  (103) (29) (114) 
Net cash used in financing activities   (158) (98) (219) 
            
Net increase/(decrease) in cash and cash equivalents      (1,221) 99 1,426 
          
Cash and cash equivalents at beginning of period   2,056 630 630 
Cash and cash equivalents at end of period 11 835 729 2,056 
      Recovery operations£'000


 Mining and exploration£'000


 Adminis-tration£'000


Reconciliation to Group figures£'000
  Group£'000




External revenues  13,3431,072--14,415
Inter-segment revenues  278--(278)-
Total revenues   13,6211,072-(278)14,415
      
Reportable segment profit/(loss) before tax1,849(712)19431,334
Segment assets26,5523,84630,217(20,554)40,062
Segment liabilities17,3343,3334,649(7,484)17,832
      
      Recovery operations£'000


 Mining and exploration£'000


 Adminis-tration£'000


Reconciliation to Group figures£'000
  Group£'000




External revenues  10,014659--10,673
Inter-segment revenues  2,289--(2,289)-
Total revenues   12,303659-(2,289)10,673
      
Reportable segment profit/(loss) before tax1,222(477)(368)18395
Segment assets16,6516,41529,158(23,484)28,740
 Segment liabilities  

11,2875,1564,798(10,323)10,918
      Recovery operations£'000


 Mining and exploration£'000


 Adminis-tration£'000


Reconciliation to Group figures£'000
  Group£'000




External revenues  18,6251,560--20,185
Inter-segment revenues  4,707--(4,707)-
Total revenues   23,3321,560-(4,707)20,185
      
Reportable segment profit/(loss) before tax2,696(762)(12)201,942
Segment assets20,0937,46329,702(24,547)32,711
Segment liabilities12,9736,2734,830(11,462)12,614
          





6 months31-Dec-16(unaudited)£'000


6 months31-Dec-15(unaudited)£'000


12 months30-Jun-16(audited)£'000


Cost   
Balance at beginning of period12,46711,92211,922
Additions-59110
Impairment--(42)
Foreign exchange translation125245477
Balance at end of period12,59212,22612,467
Amortisation and impairment losses   
Balance at beginning of period2,7412,7532,753
AmortisationImpairment
112-
90-
192(42)
Foreign exchange translation(86)(6)(162)
Balance at end of period2,7672,8372,741
 Carrying amounts

   
Balance at end of period9,8259,3899,726
Balance at beginning of period9,7269,1699,169
        

6 months31-Dec-16(unaudited)£'000


6 months31-Dec-15(unaudited)£'000


12 months30-Jun-16(audited)£'000


Consumable stores 1,1729151,094
Raw materials 586473347
Precious metal on hand and in process9,6836,5726,124
Broken ore278103182
 11,7198,0637,747
        

6 months31-Dec-16(unaudited)£'000


6 months31-Dec-15(unaudited)£'000


12 months30-Jun-16(audited)£'000


Trade receivables6,9483,1194,546
Other receivables1,9321,6541,709
 8,8804,7736,255
        

6 months31-Dec-16(unaudited)£'000


6 months31-Dec-15(unaudited)£'000


12 months30-Jun-16(audited)£'000


Bank balances 8857292,148
  Bank overdrafts used for cash management purposes

885(50)
729-
2,148(92)
Cash and cash equivalents in the statement of cash flows8357292,056
Issue of ordinary shares 

     
  

       

6 months31-Dec-16(unaudited) 



6 months31-Dec-15(unaudited)

12 months30-Jun-16(audited) 



On issue at beginning of periodCancellation of treasury shares
 167,441,000-
168,441,000-
168,441,000(1,000,000)
On issue at end of period 167,441,000168,441,000167,441,000
Authorised -  par value £0.011,000,000,0001,000,000,0001,000,000,000
Issue of ordinary shares 

     
  

       

6 months31-Dec-16(unaudited)£'000


6 months31-Dec-15(unaudited) £'000


12 months30-Jun-16(audited)£'000


On issue at beginning of period 1,6751,6851,685
Shares cancelled in year --(10)
On issue at end of period 1,6751,6851,675
        

6 months31-Dec-16(unaudited)£'000


6 months31-Dec-15(unaudited)£'000


12 months30-Jun-16(audited)£'000


Nil pence per qualifying ordinary share ---
      

    Currency



Interestratenominal

Year of maturity 

Face value£'000
Carrying amount£'000
               
Finance lease liabilities     ZAR 10.5% 2017/18 (400) (400)
Total Interest-bearing liabilities           (400) (400)
               
      

    Currency



Interestratenominal

Year of maturity 

Face value£'000
Carrying amount£'000
               
Finance lease liabilities     ZAR 9.75% 2016/17 (290) (290)
Total Interest-bearing liabilities           (290) (290)
      

    Currency



Interestratenominal

Year of maturityFace value£'000
Carrying amount£'000
               
Finance lease liabilities     ZAR 10.5% 2017/18 (286) (286)
Total Interest-bearing liabilities           (286) (286)
      

    Currency



Interestratenominal

Year of maturity 

Face value£'000
Carrying amount£'000
               
Interest bearing borrowings     - - - - -
Total Interest-bearing liabilities           - -
               
      

    Currency



Interestratenominal

Year of maturity 

Face value£'000
Carrying amount£'000
               
Interest bearing borrowings     ZAR 9.75% 2016 (91) (91)
Total Interest-bearing liabilities           (91) (91)
      

    Currency



Interestratenominal

Year of maturityFace value£'000
Carrying amount£'000
               
Interest bearing borrowings     ZAR 10.5% 2018   (55) (55)
Total Interest-bearing liabilities           (55) (55)
            
 
         





 6 months31-Dec-16(unaudited)£'000


 6 months31-Dec-15(unaudited)£'000


 12 months30-Jun-16(audited)£'000


Environmental obligation      
Balance at beginning of period 383 121 121
Provisions made during the period - 5 244
Foreign exchange translation 62 (20) 18
  445 106 383
        

6 months31-Dec-16(unaudited)£'000


6 months31-Dec-15(unaudited)£'000


12 months30-Jun-16(audited)£'000


Trade payables3,2982,4402,666
Amounts received in advance--1,107
Accrued expenses12,6787,5097,362
 15,9769,94911,135
    6 months ended31-Dec-16(unaudited)

6 months ended31-Dec-15(unaudited)

   Number of optionsExercise priceNumber of options Exercise price
Outstanding at beginning of period18,500,000 8,500,000  
Granted during the period--11,000,000 3.125p
Outstanding at end of period 18,500,000   19,500,000  
      12 months ended30-Jun-16(audited)



     Number of options Exercise price
Outstanding at beginning of period  8,500,000  
Granted during the periodLapsed during the year
  11,000,000(1,000,000)
 3.125p
Outstanding at end of period     18,500,000  
  Gerard Kisbey-Green   CEOGoldplat plc    Tel: +27 (71) 8915775
  Colin Aaronson / /Jen ClarkeDaniel Bush   Grant Thornton LLP (Nominated Adviser)UK    Tel: +44 (0) 20 7383 5100
  Andrew Raca /Justin McKeegan   VSA Capital Limited    (Broker)
    Tel: +44 (0) 20 3005 5000
  Charlotte Page / Susie Geliher   St Brides Partners Ltd   (Financial PR)
    Tel: +44 (0) 20 7236 1177









The notes below are an integral part of this condensed consolidated interim financial report.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq 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 Globenewswire

Goldplat plc

  1. General information
  1. Significant accounting policies
  1. Operating segments
  1. Seasonality of operations
  1. Income tax expense
  1. Property, plant and equipment
  1. Intangible assets and goodwill
  1. Inventories
  1. Trade and other receivables
  1. Cash and cash equivalents
  1. Capital and reserves
  1. Obligations under finance leases
  1. Interest bearing borrowings
  1. Provisions
  1. Trade and other payables
  1. Share options

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