20th Jul 2015 09:47
LONDON (Alliance News) - Goldplat PLC shares dropped on Monday after it said it expects to book an operating loss for the full year in line with the loss made in the first half.
The gold miner said it expects its full year operating loss to be "materially the same" as the GBP827,000 loss reported in the first half ended December 31.
"The substantial improvements in trading have not flowed through as rapidly as we had hoped. In particular, resumption of operations and improvements in Ghana were not realised during the
period with significant value still in the pipeline at the year-end," said Chief Executive Gerard Kisbey-Green.
Goldplat shares were down 12.5% to 1.75 pence per share on Monday morning.
However, the company said it expects to make an operating profit in the next financial year due to end June 30, 2016, and said it believes its capital projects will be funded internally. It said any financing that would be required will be financed by non-equity capital.
Goldplat will report its results for the full year ended June 30, 2015 on September 28.
By Joshua Warner; [email protected]; @JoshAlliance
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