StockMarketWire.com - Goldplat (GDP), the AIM listed gold producer, has announced that for the year ended 30 June 2015 there was an operating loss of £711,000 (2014: profit of £153,000).

The company said it returned to profitability in the second half of the financial year after a first half operating loss of £826,000.

The loss before tax was £796,000 (2014: loss of £248,000).

Brian Moritz, the chairman, said: "Once again I have to report an extremely challenging year for the whole of the gold mining industry, with Goldplat suffering along with both major and junior gold companies.

In Goldplat's case, the inability of Rand Refinery to process our concentrates has substantially increased our difficulties. Management has, however, continued to take action to reduce costs, improve efficiency and enable us to eliminate reliance on third party processing.

"We have reached the point where I believe that all this hard work will give improved performance in future. Goldplat remains the leading African company recovering gold from by-products, and the directors intend to build on that advantage and expand the recovery business."

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Horizonte Minerals (HZM), the nickel development company focused in Brazil, has reached agreement to indirectly acquire through wholly owned subsidiaries in Brazil the advanced high-grade Glencore Araguaia nickel project ('GAP') in north central Brazil.

GAP combined with Horizonte's 100% owned high-grade Araguaia nickel project will create one of the world's largest nickel saprolite projects in terms of size and grade, in a premier mining jurisdiction that has a defined path to feasibility.

The total acquisition cost is $8M.

Horizonte's CEO, Jeremy Martin, said: "This is a game-changing transaction for Horizonte. We have been able to negotiate a unique transaction leveraging the current depressed commodity markets.

"The combination of the two projects will produce one of the largest undeveloped saprolite nickel resources globally."

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Thor Mining (THOR) has widened its consolidated FY pretax loss to £0.9m, from a loss of £0.8m. The company said:

"The year ended June 2015 was a continuation of challenging financial markets for small companies in the resource sector. Despite this, your company made considerable progress and is positioned well to take advantage of any improvement in sentiment.

"While prices for tungsten and molybdenum have weakened, the gold price has firmed, and the recent weakening of the Australian dollar against major currencies has made a positive contribution, as most of our capital and operating costs reduce when compared with those major currencies."

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Sovereign Mines of Africa (SMA) has narrowed its H1 pretax loss to £46.8m, from a year-earlier loss of £84.74m. Administrative expenses totalled £47.3m, from £83.6m.

It issued the following statement:

"In July, your Board entered into an exclusivity agreement with a major third party with a view to them partnering with us to develop the Mandiana project (the "Partnership").

"The period of exclusivity runs to early October but due to the sensitivity of the negotiations your Board is unable to provide further details until the exclusivity period lapses or produces a formal agreement which can be announced.

"The company currently has circa £40,000 in cash as at the date of this announcement and the Board recognises the need for further funding to finance the Company's ongoing working capital requirements of approximately £100,000 per annum.

"The Board has received a firm commitment from one of its directors to underwrite this fundraising, as well as indications of support from major shareholders.

"This fundraising will take place in the immediate future, once the position regarding the potential Partnership has come to fruition. However, shareholders should be aware that without the potential Partnership being concluded and a refinancing in the immediate term, the Company will not be able to finance the expenditure necessary to retain its exploration assets and continue in operation."

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Chaarat Gold Holdings, (CGH), the AIM quoted exploration and development company with assets in the Kyrgyz Republic, has reported an operating loss for the six months ended 30 June 2015 of $2.2m.

In the same period last year the loss was $3.3m.

Dekel Golan, Chief Executive Officer of Chaarat, commented: "The challenges of bringing the Chaarat Project to production cannot be ignored but I am excited as I see our plans start to coalesce."

He added: "With the continued interest of potential joint venture partners and outright purchasers, pending the delivery of the DFS, these are indeed exciting times for one of the largest and best undeveloped deposits in the world."

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African Potash (AFPO), the AIM listed exploration company focused on sub-Saharan potash assets and the vertical integration of fertiliser operations in Africa, has announced that following meetings in Lusaka, Zambia last week, it has entered into a legally binding framework fertiliser supply agreement ("FFSA") with Cudolog (Pty) Ltd, a South African based company.

The Company said that the FFSA is a significant milestone in implementing its strategy of becoming a vertically integrated African focused fertiliser business by securing the supply of fertiliser for onward sale pursuant to the Company's first trading MOU (as announced on 24 August 2015).

The FFSA was signed during the East and Southern Africa Fertiliser Trade Platform (ESAF) annual conference and fertiliser Expo held in Lusaka, Zambia between 24-26 September 2015.

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African Potash (AFPO), the AIM listed exploration company focused on sub-Saharan potash assets and the vertical integration of fertiliser operations in Africa, has announced that following meetings in Lusaka, Zambia last week, it has entered into a legally binding framework fertiliser supply agreement ("FFSA") with Cudolog (Pty) Ltd, a South African based company.

The Company said that the FFSA is a significant milestone in implementing its strategy of becoming a vertically integrated African focused fertiliser business by securing the supply of fertiliser for onward sale pursuant to the Company's first trading MOU (as announced on 24 August 2015).

The FFSA was signed during the East and Southern Africa Fertiliser Trade Platform (ESAF) annual conference and fertiliser Expo held in Lusaka, Zambia between 24-26 September 2015.

*** At 3:45pm:

[LON:AQP] Aquarius Platinum Ltd share price was -0.3p at 6.5p

[LON:BEM] Beowulf Mining PLC share price was -0.3p at 2.5p

[LON:BKY] Berkeley Resources Ltd share price was +0.5p at 21.25p

[LON:CEY] Centamin PLC share price was +0.23p at 63.23p

[LON:CGH] Chaarat Gold Holdings Ltd share price was +0.06p at 7.38p

[LON:CHL] Churchill Mining PLC share price was -0.5p at 25.5p

[LON:CZA] Coal of Africa Ltd share price was -0.16p at 3.34p

[LON:FDI] Firestone Diamonds PLC share price was 0p at 23.75p

[LON:FRES] Fresnillo PLC share price was -16.5p at 602p

[LON:GDP] Goldplat PLC share price was +0.01p at 3.38p

[LON:GEMD] Gem Diamonds Ltd share price was -0.25p at 117p

[LON:HOC] Hochschild Mining PLC share price was -1.25p at 71.5p

[LON:HZM] Horizonte Minerals PLC share price was +0.03p at 1.58p

[LON:KMR] Kenmare Resources PLC share price was 0p at 2.09p

[LON:SMA] Sovereign Mines of Africa share price was -0.02p at 0.18p

[LON:VED] Vedanta Resources PLC share price was -24.2p at 431.2p



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