By Iain Gilbert
Date: Monday 30 Sep 2019
LONDON (ShareCast) - (Sharecast News) - Gold producer Goldplat swung to a loss for the year ended 30 June as the group's bottom line was hurt by weakened profits in both South Africa and Ghana.
Goldplat turned in a full-year loss of £501,000 on Monday, a marked turnaround from the £2.5m profit reported a year earlier, as sales at the group's South African gold recovery operations dropped 23.7% to £17.3m and operating profits from recovery operations in South Africa and Ghana tumbled 60.5% to £1.5m.
The AIM-listed firm's mining and exploration unit saw pre-tax losses more than double to £1.9m, leading Goldplat to put its mining operations on care and maintenance in order to stem losses.
Net cash increased 17.4% to £1.8m
Separately, Goldplat confirmed the appointment of Werner Klingenberg as chief executive officer, on a permanent basis. The group said fulfilment of the role of CFO, currently held by Werner, was "under consideration".
As of 1030 BST, Goldplat shares were down 5.26% at 3.60p.
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Currency | UK Pounds |
Share Price | 8.05p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 8.60 |
52 Week Low | 5.60 |
Volume | 0 |
Shares Issued | 167.78m |
Market Cap | £13.51m |
RiskGrade | 226 |
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Latest | Previous | |
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Final | Final | |
Ex-Div | n/a | 27-Nov-13 |
Paid | n/a | 19-Dec-13 |
Amount | 0.000p | 0.12p |
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