REG - Goldplat plc - Q2 Operating Update for period ended 31 Dec 2025

GoldplatAnnouncement

Tue 07:00

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RNS Number : 3224S  Goldplat plc  10 February 2026

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

10 February 2026

Goldplat plc

('Goldplat' or the 'Company')

 

2(nd) Quarter Operating Results update for period ended 31 December 2025,

Dividend Declaration and TSF update

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
announce an operational update for the 2(nd) quarter ended 31 December 2025
("Q2"), of the current financial year.

The two recovery operations achieved a strong combined operating profit for
the quarter of £2,696,000 (FY Q2 2025 - £1,169,000) and for half year ("H1")
was £4,791,000 (FY H1 2025 - £2,498,000) (excluding listing and head office
costs, finance cost and foreign exchange gains/losses). The finance cost and
foreign exchange losses incurred in Q2 mainly related to trading activities
and resulted in a combined profit before tax excluding listing and head office
costs for Q2 of £2,314,000 (FY Q2 2025 - £834,000).

The Ghanaian operation achieved a profit before tax for Q2 of £116,000 (FY Q2
2025 - £555,000). This includes a foreign exchange loss of £302,000.

The South African operation achieved a profit before tax for Q2 of £2,198,000
(FY Q2 2025 - £279,000) and was supported by stable production, once-off
batches and higher and increasing gold price.

Dividend declaration

An interim dividend of 0.14638 pence per share will be paid to shareholders on
6 March 2026, with the record date being 20 February 2026 and ex-dividend date
19 February 2026. It is the intention of the board to continue assessing and
distributing of value to shareholders on a quarterly basis.

The following events have contributed to the Q2 operating results:

Gold Recovery Ghana ("GRG")

·      GRG had a productive quarter, with focus remaining on maximizing
gold recoveries from material sourced, mainly from clients in Ghana. Ghana
results however have been impacted by one-off losses on certain client batches
where the initial report gold was higher than the gold contained due to assay
method changes at a third party lab. The procedure and processes in this
regard have already been updated.

·      To optimize the recovery plant, GRG plan to invest a further
£700,000 over the next six months to improve our processes to increase
recoveries and environmental management.

·      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 annual environmental permit is in process of being renewed,
and our gold license is up for renewal on 16 May 2026.

Goldplat Recovery (South Africa)

·      As per our team's focus over the last couple of years, we have
seen an increase in our share of the by-products market and with that an
increase in volumes during Q2. These efforts, combined with solid gold
recoveries from our low-grade circuits, supported by the high gold price,
resulted in a good operating performance during Q2.

·      Although, in the short-term, the focus will be in extracting
value from the current high gold price, in the longer term the aim is to find
better visibility of supply through diversifying into other precious metals or
other types of gold resources. In the interim, visibility of supply of
low-grade soils for our milling circuits remains strong, with more than 12
months of material for processing on site and more under contract.

 

Tailings Storage Facility

Although the Company's TSF has previously been subjected to a resource
estimate JORC Resource (January 2016) of 81,959 ounces in 1.43m metric tonnes
(Table 1), no feasibility or economic assessment has been completed. The
ability to process and determine potential value therefore remains subject to
significant technical, regulatory, funding and execution uncertainties.

During the quarter a decision was made to find ways to reduce uncertainty and
reduce timelines through taking control of some of the application process.
These involve taking ownership of the pipeline application, involving
consultants to assist with the pipeline application but also with all the
technical requirements around integration into DRD Gold's current
infrastructure. We believe information gathered from this should be sufficient
to enter into commercial discussions with DRD Gold on utilisation of their
servitudes, plant and deposition capacity.

At the same time, we plan to update the current JORC resource, do specific
recovery analysis to provide better statistical data on gold contained and
recoverable in the TSF through planned processes and will provide timelines by
the end of March 2026.

Gold Recovery Brazil

·      We have spent close to £156,000 of the planned spend of
£200,000 on the new plant to date. Spiral equipment has been ordered and
arrived in Brazil in January 2026. The project is expected to be completed by
the end of this month.

 

·      Sourcing in South America was strong during the quarter with
several new sourcing agreements in place and continues to be the focus of the
local team.

 

·      We continue to receive material from our regular sources in South
America with material being sent to Ghana and South Africa for processing.
During Q2, a decision was made to send more material to South Africa while we
reduce stock levels in Ghana through new processing methods.

Cash

Our cash balances in the group remained strong at £4,700,000 at the end of
Q2. The cash balances will mainly be used to manage working capital
requirements in the group, capital requirements and further shareholder
distributions in future.

Werner Klingenberg, CEO of Goldplat commented: "Our operations continue to
deliver excellent results, albeit in an uncertain environment with numerous
variables, supported by increased volumes and the increasing gold price.

The focus over the next six months will be on strengthening our control of the
outcome on the TSF, maintaining and increasing market share, improving
recoveries and margins in Ghana, unlocking potential in other precious metals
in South Africa and maximising value from the current high gold price.

There is still significant work to be completed but all our efforts will
create a more robust business providing a niche solution to the industry it
operates in."

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

 Tim Thompson / Alison Allfrey / 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

 

100% attributable to the Company.

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, and it is not aware of any new information or data that
materially affects the estimates.

 

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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