REG - Goldplat plc - Q1 Operating Results and Dividend

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RNS Number : 5855H  Goldplat plc  14 November 2025

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration

14 November 2025

Goldplat plc

('Goldplat' or the 'Company')

1st Quarter Operating Results update for period ended 30 September 2025

Dividend Declaration

Goldplat Plc, (AIM:GDP) the AIM listed Mining Services Group, with
international gold recovery operations located in South Africa and Ghana,
servicing the African and South American Mining Industry, is pleased to
declare a dividend and announce an operational update for the 1(st) quarter
("Q1") ended 30 September 2025.

The two recovery operations achieved a combined operating profit for the
quarter of £2,086,000 (excluding listing and head office costs, finance cost
and foreign exchange gains) (FY Q1 2025 - £1,838,000). The finance cost and
foreign exchange gains incurred in Q1 mainly related to trading activities and
resulted in a combined profit before tax excluding listing and head office
costs for Q1 of £2,372,000 (FY Q1 2025 - £1,451,000).

The Ghanaian operation which benefitted from an increasing gold price,
achieved a profit before tax for Q1 of £1,125,000 (FY Q1 2025 - £901,000).
This includes a foreign exchange gain of £282,000 as the Ghanaian Cedi
weakened against the US Dollar.

The South African operation achieved a profit before tax for Q1 of £1,247,000
(FY Q1 2025 - £550,000) mainly due to an increase in material supply from
South America and a one-off transaction with a local supplier, improved cost
management and increasing gold price.

Dividend declaration

An interim dividend of 0.1171 pence per share will be paid to shareholders on
19 December 2025, with the record date being 5 December 2025 and ex-dividend
date 4 December 2025. It is the intention of the board to assess the
distribution of dividends on a quarterly basis going forward.

The following events have contributed to the Q1 operating results:

 

Gold Recovery Ghana ("GRG")

·      As a result of the business model changes announced previously,
GRG is currently the only local gold by-product beneficiation provider in
Ghana. We invested £1,250,000 in the prior financial year to increase
capacity in the short-term, including plant capacity and to increase the
recovery of gold from concentrate on site.

 

·      The local Ghana beneficiation requirement has impacted all
aspects of our business and we continue to review, update and change our
process and procedures to manage risks and maximize margins.

 

·      Our objective is to improve and enhance our current solution so
that we are able to provide a niche solution to customers outside Ghana at
their mine site in future, who due to current country regulations may not be
able to export material to our premises in Ghana.

 

Goldplat Recovery (Pty) Ltd

·      Production during Q1 improved with the addition of material from
South America and a one-off project with a local supplier. We continue to
drive improvement initiatives to improve recoveries. Strict cost control
measures have been implemented to conserve cash in the short term.

 

·      Our focus remains on increasing our by-product market share in
South Africa as we expect reductions in by-products received from current
mining operations due to changes in their production profile.

 

Retreatment of the Tailings Storage Facility

 

·      Engagements with several parties for the TSF project continued
during Q1. The processing of the old TSF remains dependent on the approval of
the water use license by local authorities and approval from third parties in
certain areas for the installation of a pipeline to the DRDGOLD processing
facility. We also still need to agree commercial terms with DRDGOLD which will
be based on test work and analysis which is ongoing. Once approval is received
for installation of the pipeline, recovering any of the value within the TSF
remains dependent on getting the pipeline installed to DRDGOLD Ergo facility.
Capital will be required for the pipeline and upgrading part of the DRDGOLD
facility.

 

·      The application and approval of the water use license for the
pipeline remains outside of our control, which has and will continue to have
an impact on timelines which, as we have found in the past, are very difficult
to estimate with any accuracy. We have therefore refrained from providing
further estimated timelines. However, the processing of the TSF remains a key
focus and priority.

 

·      DRDGOLD continues to assist Goldplat with determining the best
potential processing solution and have made adjustments in certain
applications to speed up the process.

 

Gold Recovery Brazil

·      We have spent close to £100,000 of the planned spend of
£200,000 on the new plant to date. Spiral equipment has been ordered and is
expected to arrive in Brazil in November 2025. The project is expected to be
completed by December 2025.

 

·      Sourcing in South America was strong during the quarter and
continues to be the focus of the local team.

 

Group Cash Balances

Our cash balances in the group remained strong at £2,200,000 at the end of
Q1.

The cash balances will be used to manage working capital requirements, capital
expenditure and to pay the dividend which amounts to £200,000.

 

Werner Klingenberg, CEO of Goldplat commented: "The group had a strong
operating quarter supported by the high gold price and good supply from South
America and once off supply in South Africa. As stated previously, our
operations remain sensitive to continuous supply of gold bearing material,
which has been impacted by the decree on export of gold-bearing by-products in
some West African countries and changes in primary gold operations in South
Africa.

In South Africa, we are seeing positive results on Gold and PGM sourcing
activities and continue streamlining the operations to respond to lower
visibility of supply of material. Notwithstanding the lower visibility of
supply, we are confident that we will increase our market share in South
Africa as well as the supply of by-products in the next financial period

In Ghana, the team continued its implementation and management of several new
processes and procedures to focus the business on local beneficiation and
manage engagement with mining clients and authorities regarding the changes
and requirements.

I am pleased to announce the declaration of another dividend and the aim to
establish a steady and regular return to shareholders. Reflecting the uneven
nature of the group's revenues, we plan to calculate and, subject to the
Group's cash requirements, return value to shareholders either through
dividend or share buy-backs on a quarterly basis going forward.

The Board remains confident in the fundamentals of the business and continues
to progress strategic initiatives to improve long-term performance and enhance
shareholder value through establishing sustainability in Ghana after the
changes in the business model, progressing the approval of the TSF pipeline,
increasing market share in South Africa and expanding in Brazil. This should
provide stability in working capital requirements and ultimately the continued
return of cash to shareholders."

 

For further information visit www.goldplat.com, follow on X @GoldPlatGDP or
contact:

 Werner Klingenberg                                   Goldplat plc                                     Tel: +27 (0) 82 051 1071

                                                      (CEO)

 Colin Aaronson / Samantha Harrison / Ciara Donnelly  Grant Thornton UK LLP                            Tel: +44 (0) 20 7383 5100

                                                      (Nominated Adviser)
 Harry Ansell / James Bavister / Andrew de Andrade    Zeus (Broker)                                    Tel: +44 (0) 203 829 5000

 Tim Thompson / Mark Edwards / Fergus Mellon          Flagstaff Strategic and Investor Communications  Tel: +44 (0) 207 129 1474

                                                                                                       goldplat@flagstaffcomms.com

 

Table 1

Mineral Resource Estimate of the TSF, South Africa

 Total Resource
 Domain          Class      Tonnes (Mil)  Density  Au (g/t)  Au (Oz)  U(3)O(8) (g/t)   U(3)O(8) (lbs)   Ag (g/t)  Ag (Oz)
 TOTAL RESOURCE  Measured   0.87          1.32     1.82      50,907   61.41            117,754          4.85      135,573
                 Indicated  0.49          1.37     1.77      27,897   59.73            64,506           4.71      74,165
                 Inferred   0.07          1.30     1.4       3,154    71.40            11,016           2.82      6,356
 Grand Total                1.43          1.34     1.78      81,959   61.32            193,276          4.70      216,094

 

The Tailings Mineral Resource Estimate was announced in accordance with the
JORC Code (2012) in a press release on 29 January 2016. Mark Austin of Applied
Geology & Mining (Pty) Ltd was the Competent Person responsible for that
announcement. The Company confirms that all material assumptions and technical
parameters underpinning the Resource Estimate continue to apply and have not
materially changed.

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

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