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oldplat plc, the AIM listed gold producer, with international gold recovery operations located in South Africa and Ghana, is pleased to announce an operational update for the six months ended 31 December 2020.
Recovery operations achieved a combined operating profit for the six months ended 31 December 2020 of £3,042,000 (31 December 2019: £2,810,000). Within this, the South African operation achieved an operating profit of
£2,200,000 (31 December 2019: £2,659,000) and the Ghana operation increased operating profitability by more than 5-fold to £842,000 (31 December 2019: £151,000).
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During the period, there has been significant investment of time and resources in gathering data to optimize our current production lines in South Africa and also on our Tailings Storage Facility (TSF). These investments contributed to a reduction of operating profit year-on-year. The goal remains to establish production lines that can operate profitability on a sustainable resource.