Goldplat plc - Update on Preliminary Results & Sale of Kilimapesa
Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
('Goldplat', the 'Group' or 'the Company')
Update on timing of the preliminary results announcement for
Goldplat plc (“Goldplat”), the AIM quoted gold producer, with international gold recovery operations located in South Africa and Ghana and an held for sale mining operation in Kenya, is pleased to provide an update on the publication of its preliminary results for the year ended
The preliminary results announcement is in the process of finalisation and will be released towards the end of
· The allocation the attributable portion of the translation loss to the minority shareholders' non-controlling interest reserve. The translation loss arose on the conversion of the Goldplat Recovery (Pty) limited ("GPL") results to sterling during the prior year.
· The recognition of the environmental and decommissioning assets for GPL and Kilimapesa which should be amortised over the life of the asset. The environmental liabilities were adequately provided for in prior years and expensed as rehabilitation costs, without raising a corresponding asset. A decommissioning asset should have been raised and then amortised over the life of the operations.
Progress has been made on the transaction with a draft restructuring plan and due diligence information received from Mayflower and we are working closely with them in advancing the transaction and finalising the due diligence, which will only be completed once the restructuring plan has been concluded. Further to the Company's announcement of
For further information visit www.goldplat.com, follow on Twitter @GoldPlatPlc or contact:
Tel: +27 (0) 82 051 1071
Grant Thornton UK LLP
Tel: +44 (0) 20 7383 5100
WH Ireland Limited
Tel: +44 (0) 207 220 1666
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Flagstaff Strategic and Investor Communications
Tel: +44 (0) 207 129 1474
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
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