29th Oct 2019 13:48
(Alliance News) - A rising gold price has helped Goldplat PLC post a quarterly profit, it said on Tuesday, alongside increased production in Ghana.
London-based Goldplat's sales in the three months to September, its first quarter, were 32% higher year-on-year at GBP4.5 million. The previous year had been held back by production issues.
This, alongside increased gold prices, has helped the gold recovery company post an operating profit for the quarter of GBP1.1 million, after a loss of GBP252,000 the year prior.
Other reasons for a profit, Goldplat said, is due to reduced costs after the Kilimapesa mine in Kenya was put onto care & maintenance as well as the saving of other costs related to ongoing operations.
Shares were 16% higher on Tuesday afternoon in London at a price of 3.12 pence each.
By George Collard; [email protected]
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