19th Apr 2024 09:41
(Alliance News) - Goldplat PLC on Friday noted the arrival of the diesel generators at our operations in South Africa.
The London-based gold miner and producer has recovery operations in Ghana and South Africa, and serves clients in Africa and South America.
It said that commissioning will be finalised by the end of April.
Operations during the third quarter of its financial year have lost 6% of total operating hours available, it noted. The company's financial year runs to June 30.
It explained that this is "due to electricity supply cuts and infrastructure related issues, lower than the time lost in the previous calendar year of more than 20%."
Goldplat noted that its generators have been procured at a cost of GBP800,000 and have been financed through a local South African bank. They will be repaid over three years.
The company explained that the generators will be used to reduce the operational time lost due to electricity supply issues.
Chief Executive Werner Klingenberg said: "We are delighted to have received the generators on site and look forward to the finalisation of the commissioning of the generators. They will provide us with the ability to curtail the impact that electricity cuts have had on our operations as well as mitigate potential supply challenges in the future."
Shares in Goldplat were up 1.4% to 7.81 pence each in London on Friday morning.
By Sophie Rose, Alliance News senior reporter
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