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Goldplat says Q3 production slightly higher; reveals chief executive's departure

Last updated: 09:40 26 Apr 2019 EDT, First published: 03:20 26 Apr 2019 EDT

Gold pour
Goldplat also revealed that Gerard Kisbey-Green has stepped down as chief executive with immediate effect

Goldplat plc (LON:GDP) shares rose on Friday as the firm reported higher third-quarter production at 7,078 ounces of gold and gold equivalents, compared to 6,751 ounces in the comparative period of last year.

The company’s operations in South Africa yielded 5,012 ounces and in Ghana it produced 1,254 ounces – a total of 5,379 ounces sold for its own accounts and 1,060 ounces transferred to clients.

Talks over a potential transaction for the Kilimapesa gold asset have been terminated though it noted that “other possibilities are still being aggressively pursued.”

“While the ongoing discussions to find Kilimapesa an external funding partner, referred to in the last quarter, were terminated, management is already engaged in talks with other parties and we hope to update the market as they progress,” Werner Klingenberg said.

He added: “We were very pleased with continued profitable production in South Africa during the quarter and the progress made in building the greater West African market.

“Management’s continued priority will be to maintain the established momentum of the recovery operation and improve the reliability of sourcing material.”

Change of guard

In a separate statement, the firm also revealed that Gerard Kisbey-Green has stepped down as chief executive with immediate effect.. The company has also launched a full review of its senior management requirements.

Werner Klingenberg, who has been chief financial officer since June 2017, has been appointed interim chief executive.

The company said it aims to make a new appointment that will ‘fully reflect the group’s current emphasis on its profitable recovery operations’ and will reflect the group’s strategic requirements.

In afternoon trading, shares in Goldplat were 8.3% higher at 3.25p.

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