Goldplat plunges over 20% as power outages hit S. African ops

Goldplat

20/02/2023 09:45

** Shares of South Africa- and Ghana-focused gold recovery
services firm Goldplat Plc  GLDP.L  down around 20.5% to 8.15p
    ** Stock set to log worst day since Feb. 24, 2020, if trend
holds
    ** Co says Q2 oper profit from South African ops falls to
356,000 pounds ($428,090) from 1.4 mln pounds year ago, due to
extensive power cuts 
    ** Sees Q3, Q4 profit levels to be below market expectations
if electricity cuts continue at similar levels 
    ** Total group qtrly profit slumps 41% to 1.4 mln pounds 
    ** Shares, which resumed trading after over a
month-and-a-half suspension due to delay in FY results
publication, hit lowest level since Aug. 15
    ** Stock dipped below its 50-day simple moving avg (SMA)
mid-Dec; now trading below its 50-, 100- and 200-day SMA 
    ** Including session's losses, stock down ~14% YTD 
($1 = 0.8316 pounds)
 (Reporting by Prerna Bedi in Bengaluru)
 ((Prerna.Bedi@thomsonreuters.com; +91 98052 24616;))