LONDON (ShareCast) - (WebFG News) - In a quarterly update on Tuesday, gold producer Goldplat plc said its operations in Ghana and South Africa remain profitable and that installation of an elution plant in Ghana has been completed.
Over the course of the three months preceding 31 March, the company produced 6,966 ounces of gold and gold equivalent, while sales and transfers of gold equivalent ounces in the nine months leading up to the date increased 3% in comparison to the same period of the previous year, rising to 28,534 gold equivalent ounces.

Of the 6,966 ounces produced over the three months, 1,192 were produced from the operations of Gold Recovery Ghana (GRG) where the new eluction plant and associated infrastructure were also completed.

GRG is also pursuing a programme with the Ghanaian government to rehabilitate artisanal mining in the country.

A dispute between Rand Refinery and Goldplat Recovery (Pty) Ltd (GPL), a subsidiary of Goldplat operating in South Africa, finally came to a conclusion in the quarter, with the refinery paying an undisclosed amount to GPL and business resuming between the parties.

Gerard Kisbey-Green, chief executive of Goldplat plc, said: "The conclusion of the Rand Refinery dispute and the completion of the elution circuit at GRG were key highlights of the quarter. As we continue to focus on building gold production and increasing profitability, we look forward to progressing the turnaround at Kilimapesa and securing new strategic supply contracts at an international level for our recovery operations."

The AIM-traded company recorded a reduction in losses at the Kilimapesa gold mine in Kenya where the Kempe drill is now operational at the underground mine with a view to its assistance in further expansion of mine layout and the improvement of gold grades and costs.

As of 0958 BST, Goldplat PLC's shares were down 12.20% at 6.48p.

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