REG - Goldplat plc - Update on Electricity

GoldplatAnnouncement

16/03/2023 12:00

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RNS Number : 2369T  Goldplat plc  16 March 2023

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

16 March 2023

Goldplat plc

('Goldplat' or the 'Company')

Update on electricity

 

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, wishes to give an
update on the electricity situation in South Africa and its impact on its
South African operation.

 

As announced in the Q2 operating results dated 23 February 2023, the
electricity cuts have continued into Q3 in order to reduce the load on the
network by the country's electricity provider. We however lost additional
hours in March 2023, due to problems on the transmission lines to the
operations. This, together with continued electricity cuts, has resulted in
hours lost during Q3 to date already being 43% higher than what was
experienced during Q2.

 

Goldplat is engaging with the municipality to see how we can reduce the impact
on our operations and continue to investigate ways to increase productivity
during times of availability.

 

The productivity and margin of different sources and processes are being
impacted differently by the availability of electricity supply. Nonetheless,
the Company still expects to meet current market expectations for the current
financial year and we will keep the market updated on the situation and
impact.

 

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.

 

For further information visit www.goldplat.com, follow on Twitter @GoldPlatPlc
or contact:

 

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

                                              (CEO)

 Colin Aaronson / George M Grainger           Grant Thornton UK LLP                            Tel: +44 (0) 20 7383 5100

                                              (Nominated Adviser)
 James Bavister / Andrew de Andrade           WH Ireland Limited                               Tel: +44 (0) 207 220 1666

                                              (Broker)

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

                                                                                               goldplat@flagstaffcomms.com

 

 

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