Good morning, Please see below Fairfaxs BUY note on Goldplat with a target price of 30p following the release of their final results this morning - its current share price is 17.3p. Goldplat, the AIM listed gold producer has a diverse gold portfolio, including three highly profitable gold recovery plants in South Africa, Ghana and Burkina Faso, Kilimapesa Gold Mine in Kenya, which produced 1,648 oz in FY12, targeting production of 10,000 oz Au per annum with a defined JORC compliant resource of 649,000 oz at 2.44g/t Au, and two exploration projects in Ghana and Burkina Faso with initial JORC compliant resources of 300,000 oz Au and 92,589 oz at 2.06 g/t respectively. Goldplat reported strong results with a 52% increase in profit before tax to �5.24 million, and a 48% increase in operating profits to �4.53 million, enabling a maiden dividend payout of 0.6 pence.

House analyst Carole Ferguson said: the company demonstrates the resilience of the gold recovery business and continues to grow the potential of its core business as well as bring on a self funded gold production business.

We remain strong buyers. The full note and financial results are included below. Kind regards, Felicity
Goldplat (GDP LN) 17.3 pence, Mkt Cap �29m - Strong Results and a Maiden Dividend Buy Target Price: 30 pence
* The company reported a strong set of results with a 52% increase in PBT to �5.24m and a 48% increase in operating profits to �4.53m in 2012. * Strong cash flow enables payment of a maiden dividend: The company reported a 52% increase in net cash of �4.57m and will make a maiden dividend payment of 0.6 pence a share (yield of 3.6%). * Gold recovery continues to deliver with total recovered oz of 31,354 oz slightly ahead of our expectations of 30,263 oz with Ghana delivering more in gold oz as expected. * Gold recovery from Ghana (GRG) now ahead of South Africa - GRG accounted for 57% of recovered oz at 17,762 oz and is now contributing more to the Gold Recovery business than the South African operations with 13,592 oz. * GRGs revenue and profits increased as a result of increased by-products received from clients that include Goldfield Ltd, AngloGold Ashanti and Golden Star Resources. * As expected GRG is benefitting from its investment in a second Fludised Bed Incinerator which is used to treat high value carbon - we estimate each of these units can generate profits between $650,000 to $1m. * As anticipated the second receiving site for processing in relation to the toll processing agreement they have with Adamus Resources has enabled Goldplat to increase the volumes of by-products delivered each month. * South Africa recovery oz at 13,592 is below the levels achieved in 2011 of 18,190 oz - however, we forecast that the South African can regain and grow oz through the commissioning of a Fluidized Bed Incinerator to treat the high value carbon stream, new clients and the reprocessing of selected tailings from Goldplats own operations. * Due diligence continues on the Central Rand Gold site on two shallow shafts which could be sourced for ore. * Should their investigations prove fruitful they will employ contract miners to supply fresh ore to the Benoni processing plant. * A new recovery operation to be established in Burkina Faso - Midas Gold SARL has been formed and is preparing a feasibility report for setting up a new processing plant. * This is well advanced with land sourced for the site, initial designs drawn up and equipment sourced. * Midas is preparing an environmental report which is the final document required before they submit their mining licence application. * Kilimapesa Gold Production - The production from stoping ore continues while underground development is undertaken. * The target to deliver 10,000 oz in the next two years still holds although the company have flagged a short term delay in the delivery of back up power supply (500 Kva generator) due to shipping and clearance delays. * This is still a small contributor to profits and we do not have gold production making a significant contribution to operating profits till 2014. * The resource which has been expanded by drilling beyond the current underground development along strike and at depth led to an upgrade in resources as previously announced of 531,631 oz at an average grade of 2.43 g/t. * Other gold exploration programmes are being advanced: The company continues to advance its bronwnfield Anumso Gold project in Ghana where results of 33 hole, 6125 m programme is due in October. * The company continue to target four new mineralised zones at the Nyieme Licence in Burkina Faso. Conclusion: These results are in line with cashflows of �4.57m up 52% from FY 2011 enabling a maiden dividend payout of 0.6 pence or �1m and our forecasts for cash flows based on re-investment to grow the top line would suggest that the company can sustain a dividend payout.

The company continues to invest in plant and equipment spending �3.8m in 2012 up by 20% - this augurs well for their profits going forward. We have reduced our forecast of PBT in 2013 to �8.1m from �8.9m and �9.03m from �11.8m respectively to reflect a slower ramp up in gold production.

We assume full production from Kilimapesa starts at the end of 2014.

We continue to expect the core recovery businesses in Ghana and South Africa to grow strongly with PBT from gold recovery expected to grow by 30% to �6.75m for 2013 and �7.75m for 2014.

We have not factored in any potential contribution from a unit from Mali which provides scope for upside once the operation is established. The shares trades on a relatively modest rating with on PE of 4.6x (eps of 3.7 pence) for 2013 and a dividend yield of 3.4% and should re-rate from here as the company demonstrates the resilience of the gold recovery business and continues to grow the potential of its core business as well as bring on a self funded gold production business.

We remain strong buyers. June Year End
2009 2010 2011 2012 2013E 2014E Gold Price $/oz 1,525 1,700 1,600 1,800 1,700 1,500 Gold Produced (Recovery) oz 21,068 21,461 28,185 31,354 42,000 54,000 Gold Produced (Mining) oz
1,600 3,254 7,500
Revenue �000s 11,149 10,663 19,620 26,225 34,645 40,336 Operating Costs �000s 9,325 8,604 16,566 20,178 26,530 31,307 Operating Profit �000s 1,824 2,059 3,054 4,527 8,115 9,029 EBITDA �000s 1,824 2,059 3,054 5,244 7,615 8,529 Post Tax Profit �000s 1,064 1,059 2,295 4,644 5,687 6,145 Net Debt/(Cash) �000s (1.55) (0.92) (2.48) (4.57) (5.19) (8.98) EPS pence 0.9 0.8 1.5 2.8 3.7 3.9 P/E
19.8x 21x 11.7x 6.2x 4.7x 4.4x EV/EBITDA
10.7x 8.3x 6.8x 3.5x 2.4x 1.7x
* Fairfax analysts and sales have visited the Goldplats Benoni facilities in Johannesburg.

Fairfax acts as nomad and broker to Goldplat in the UK
Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration 1 October 2012 Goldplat plc (Goldplat or the Company) Preliminary Results Goldplat plc, the AIM listed gold producer, is pleased to announce its preliminary results for the year ended 30 June 2012. Overview * Maiden dividend proposed of 0.6p per share totalling �1.01 million * 52% increase in profit before tax to �5.24 million (2011: �3.43 million) * 48% increase in operating profits to �4.53 million (2011: �3.05 million) * 52% increase in net cash position of �4.57 million as at 30 June 2012 (2011: �3.01 million) * Market leaders in gold recovery in Africa - production from Ghana and South Africa totalled 31,354 ounces � Establishing a new gold recovery processing unit in Burkina Faso; registered a new trading company, Midas Gold SARL, and initial plant designs are underway � Achieved first gold pour at Kilimapesa Gold Mining Project in Kenya in January 2012 � 162% JORC compliant resource upgrade at Kilimapesa to 649,804 ounces at 2.44 g/t gold � Strong progress made to advance gold development portfolio in Ghana and Burkina Faso � Aim to delineate in excess of 1 million ounces of gold resources across Kenya, Ghana and Burkina Faso gold mining projects by the end of 2012 Goldplat CEO Russell Lamming said, "I am delighted to have joined Goldplat as CEO at such an exciting time in the Companys development.

With record profits of �5.24 million before tax and gold production reaching 31,354 ounces, 2012 has been a truly exceptional year for Goldplat.

In addition, the declaration of a maiden dividend represents a key milestone for the Company and highlights the considerable progress made by Goldplat to date. "Looking ahead, I plan to build on the success of former CEO Demetri Manolis and continue to deliver on the Companys key strategy of building a highly profitable gold recovery and mining company in Africa.

To this end, we will maintain growth and seek new opportunities for our highly profitable gold recovery businesses in Ghana and South Africa.

Furthermore, I look forward to reporting on developments at our latest gold recovery venture in Burkina Faso, which we believe will be an excellent fit with our existing recovery operations. "We remain committed to developing our gold mining projects in Kenya (Kilimapesa Gold), Ghana (Amunso) and Burkina Faso (Nyieme).

We aim to increase production at our first gold mine, Kilimapesa Gold, towards the 10,000 ounce mark over the next two years and delineate in excess of 1 million ounces of resources across our whole development portfolio by the end of the year. "With a robust treasury to support growth at our existing operations and fund future acquisitions, Goldplat looks set to hit its key targets and in turn realise value for shareholders." Chairmans Statement This has been another excellent year for Goldplat, and our stated objective of building a cash generative, profitable, debt free gold producer focussed in Africa is being realised.

We have reached multiple milestones during the period, including the first gold pour at the new Kilimapesa gold mine in Kenya, achieved record revenues from the gold recovery operations in Ghana and South Africa, and through defined exploration programmes, we are expecting to have in excess of a one million ounce gold resource in the near future.

With revenues and margins continuing to improve, a net cash position of �4.573 million at the year end, and truly exciting projects being expanded and developed, we remain committed to building shareholder value and reflecting our strong operational performance in our market value, which we believe remains significantly below its fair level. Our mining and exploration portfolio consists of the producing Kilimapesa Gold Mine in Kenya and the Anumso and Nyieme gold exploration and development projects in Ghana and Burkina Faso, which have near term resource upgrade and production potential. While good progress is being made on these projects, our two gold recovery operations in South Africa and Ghana remain key to our profitability and cash generation, underpinning our share price.

The success of these operations has enabled us to recommend a maiden dividend of 0.6p per share, totalling �1,030,000.

To ensure increasing profits of the recovery business, we intend to establish a further operation in Burkina Faso, as described below.

We have also taken important steps to expand our operations in South Africa, and in this context I should stress that we have been completely unaffected by the well publicised problems affecting mines in the Rustenburg area.

Our record of no reportable accidents demonstrates the commitment of management and staff there, and remains a source of pride. With a balanced portfolio of producing and exploration assets we expect to be able to finance the majority, if not all of our development work internally or through project finance, negating any need for further dilution on the corporate level, which we believe is important when considering our value against our peer group. Financials The Group reports a 53% increase in pre-tax profit for the twelve months to 30 June 2012 to �5,244,000 (2011: �3,428,000) and a 57% increase in after tax profit to �4,644,000 (2011: �2,956,000).

Importantly, there was a contribution from three areas of the business and for the first time, the profits earned in Ghana exceeded those earned in South Africa.

Basic earnings per share (pence) jumped to 2.77p against 2.12p for 2011, a 30% increase.

These profit increases are even more impressive when taking account of the background of declining gold prices in the second half of the year, a trend which has now reversed with gold at near record levels. At the period end, the Group retained a strong cash balance of �4.573 million, a 52% increase compared to �3.010 million last year. As a result of this and the cash generative nature of the business, the Board is recommending the payment of a maiden dividend of 0.6p per share, totalling �1.01 million.

If approved, this dividend is expected to be paid on 16 November 2012 to shareholders on the register on 26 October 2012.

The ex-dividend date is 24 October 2012.

In future we intend to pursue a progressive dividend policy based initially on the profits and cash generation from our gold recovery business. Gold Recovery Operations Our gold recovery operations in Ghana and South Africa continue to deliver and remain market leaders in precious metal recovery from by-products of the mining process such as woodchips, mill liners, fine carbon, slags, sludges and waste grease.

They once again posted record results during the period producing a total of 31,354 ounces of gold (2011: 28,185 ounces) and 7,976 ounces of silver, with 17,762 ounces of gold attributed from Ghana and 13,592 ounces of gold from our South African operations. These businesses have significant stockpiles of material for processing, continue to grow and remain important to the business as they provide investment capital to advance our other exploration and mining projects, which negates the need to turn to other funding options.

We have therefore focussed on maintaining each plants operational efficiency with profitability remaining a key focus. Gold Recovery Ghana Limited (GRG) - Ghana This has been another record period for GRG which operates a processing plant in Tema, in a Free Zone Status area, which has favourable accompanying tax benefits.

The plant, which provides an economic method for mines to dispose of waste materials while at the same time adhering to various environmental obligations, has excellent relations with the Ghanaian Government and we see it as a hub for further growth within the region. This successful period not only saw a marked increase in revenue and profitability but also a rise in by-products received for processing through clients including Goldfield Limited, AngloGold Ashanti Limited and Golden Star Resources Limited.

Due to the increased level of by-products purchased, a second Fluidised Bed Incinerator was purchased and installed to increase capacity.

Furthermore we continue to build on our contract base and have secured agreements with additional mining companies regarding acquiring gold bearing by-products. The toll processing operation that GRG has in place with Adamus Resources (Adamus), a gold mining company in Ghana, whereby some by-product materials purchased by GRG is processed off-site at Adamus processing site, also continues to perform well and is being improved by sourcing materials closer to its plant to reduce the transport costs.

A second receiving area at Adamus plant has been constructed, which has enabled GRG to increase the volumes of by-products delivered each month.

In addition, tailings at Goldplats brownfield Anumso gold mining project, also in Ghana, are currently being investigated as a potential source of material for Adamus. Goldplat Recovery (Pty) Ltd - South Africa (Goldplat Recovery) Goldplats gold recovery operation in South Africa has continued to perform strongly and has maintained its dominant position in South Africa in its business sector.

To maintain its leading position, improve the plants operational efficiency and maintain profitability, we initiated an investment programme, which we are already seeing the benefits of.

A Fluidised Bed Incinerator project for processing fine carbon has now been commissioned and enables Goldplat Recovery to compete for the higher margin fine carbon business and reduce the current stocks of fine carbon. In terms of processing by-product stockpiles, the Company is currently sorting a significant volume of gold bearing material accumulated from screening material delivered, which we believe will increase gold recovery at the plant going forward and positively impact Goldplat Recoverys bottom line.

Additionally the procurement of new gold bearing materials is on-going and stocks of raw material are stable.

New clients with higher grade margin material have been identified. We plan to reprocess selected tailings from Goldplat Recoverys own operation.

The laboratory and bulk samples have shown that this operation will be successful and we are now purchasing the required equipment.

Once commissioned, this project should have a significant positive impact on the costs of transport and procurement of raw materials for Goldplat Recovery and hence improve profitability for years to come.

In addition, the Company has significant reserves of coarse material that has been screened out of purchased material prior to processing.

We have commenced the crushing and screening of this material to provide a viable grade fine fraction that can be processed for gold recovery and the coarse fraction for sale. Due diligence is continuing based on an agreement with Central Rand Gold, whereby Goldplat Recovery will arrange for the mining of two of the shallow shafts at the Crown East and CMR Bird Reef mines in the West Rand area near Johannesburg in South Africa on a 5% net smelter return basis.

We continue to sample at CMR Bird Reef, however our priority is Crown East where we have established safe access for a travelling way.

We have also established a small hoisting capacity for equipment required underground and sample hoisting.

We are busy opening up and developing to gain access to the main reef and main reef leader reserves. The intention is that Goldplat will employ contract miners to supply ore to the Benoni processing plant, and that the mining right will be retained by Central Rand Gold.

Under these arrangements Goldplat will not incur the onerous potential liabilities inherent in underground mining in South Africa. On a wider note, Rand Refinery, Goldplat Recoverys strategic partner, has expressed its intention to expand the cooperation between the two companies in South Africa, East and West Africa.

The strategy is to utilise Goldplats recovery operations to upgrade material to such a grade that it is viable for Rand Refinery to process the concentrated material in its works.

Joint ventures will be considered if required. Midas Gold SARL (Midas) - Burkina Faso Research undertaken by us in Burkina Faso has indicated that there are significant volumes of tailings at attractive grades available for processing.

With this in mind, we plan to establish a new processing unit in Burkina Faso and have registered a new trading company, Midas Gold SARL, to operate it. Midas is preparing a feasibility report of setting up the new processing unit and to this end initial designs have been drawn and equipment sourced.

An appropriate site in the vicinity of Goldplats brownfield Nyieme gold project also in Burkina Faso has also been selected, the coordinates of which are required to be included in the application for an operating licence. Midas is preparing an Environmental Report which is the final document required in order to submit our mining licence application. Importantly, the Company has good relations with the relevant Government institutions which would give approval to develop the plant, and it also has the support of the local Mayor for this new initiative. Mining and Development Kilimapesa Gold - Kenya
Progress at Kilimapesa Gold, our wholly owned high grade auriferous vein mine, located in the historically productive Migori Archaean Greenstone Belt in western Kenya continues at pace.

Having received a 21 year Mining Lease in November 2011, the first gold project to be given a mining licence in the country since its independence in 1963, we completed the construction and commissioning of a processing facility including an elution plant to enable Kilimapesa to smelt and produce dor� on site on an on-going basis.
Production of dor� commenced in January 2012 and continues on a regular basis, with the gold sold to Rand Refinery Limited in South Africa.

The plant is currently operating primarily on stoping tonnage sourced from the underground operations at Kilimapesa Hill, with grades and recoveries as forecast, averaging 5-6 g/t and +85% respectively.

Self-financing ramp up at the mine remains on track, with annual production targeted at 10,000 ounces in the next two years.

To aid this programme, a 500 Kva generator was bought to act as a power supply back-up in the case of grid power outages.

The plant has been assembled, primarily in South Africa, for shipping to Kenya.

The target date for commissioning the new plant was the beginning of 2013, but difficulties with shipping, clearance and onward transportation mean that commission may be slightly delayed.
Underground development is on-going, primarily focussed on extending the 1.2km strike length of the auriferous quartz veins over the Kilimapesa Hill.

The current development programme at Kilimapesa Hill comprises three on-strike development ends on the auriferous quartz vein aimed at extending the exposure of vein to the east increasing the flexibility of the mining operation.

The vein structures across Kilimapesa Gold have been historically worked in places and results indicate grade continuity.
Following extensive resource drilling, to expand the resource beyond the current underground development both along strike and at depth, we raised the total underground JORC-Compliant gold resource estimate to 8,292,613 tonnes at 2.44 g/t gold (Au) for 649,804 ounces Au at a cut-off grade of 1 g/t Au.

This represents a 402,320 ounces Au or 162% increase from previously published JORC-Compliant 3,133,613 tonnes at 2.46 g/t gold for 247,484 ounces Au announced in May 2012.

Importantly the resource limits remain open and we aim to continue to extend the current known limits of mineralisation on strike and in depth.
>From the 649,804 ounces Au a JORC-Compliant mineral resource, 531,631 ounces Au at an average grade of 2.43 g/t at a 1 g/t cut-off covers the 1.2km strike length over the Kilimapesa Hill target area.

This is contained within three sub-parallel east-west trending quartz veins intruded into Archaean Banded Iron Formation and basaltic country rocks.

The main mineralisation is contained within the quartz veins, which lie within a low grade halo in the bounding country rocks.

Access to the orebody is via a northerly developed horizontal adit, that has intersected the east-west trending quartz veins on which reef drives and raises have been developed.
In particular, work has been carried out at the new Adit D, which lies 60 metres vertically below Adit B, and will contribute significantly to the increase of available ore at Kilimapesa Hill, as well as increasing mining tonnages as part of the ramp up to 10,000 ounces per annum.

Underground development continues to progress well with an exposed and sampled combined strike length over the two main auriferous quartz veins of 425 metres.

Selected rock chip sampling stretch values include 13.55 g/t over an average width of 1.27 metres across 54 metres of strike and 8.65 g/t over an average width of 1.50 metres over a strike of 57 metres.
At the Vim/Rutha and Red Ray target areas 21 holes for a total of 921 metres and 13 holes drilled for a total of 650 metres have been drilled at each target respectively.

A maiden resource has been declared over the Red Ray area of 118,173 ounces Au at an average grade of 2.48 g/t at a cut-off of 1 g/t.

A further drilling programme has been completed at Red Ray designed to extend the resource strike limits to 2.5km - assay results are pending with an update scheduled for Q3 2012. Anumso Gold Exploration (previously the Banka Gold Project) - Ghana - 90% interest In line with our strategy of developing brownfield sites, we continue to advance the 29 sq km Anumso Gold Exploration licence, located in the highly prospective Amansie East and Asante Akim South Districts of the Ashanti Region of the Republic of Ghana, 10km southwest of Newmonts 14 million ounces Akyem gold deposit.

The current non-JORC compliant resource is 262,107 ounces of gold to a depth of 100 metres, however, we believe there is significant potential to upgrade and increase this with infill drilling and increase the depth of drilling to 250 metres. Previous diamond core drilling programmes defined significant high grade gold intersections located within a broad low grade mineralised zone along a 4 km strike with surface outcropping.

Results include best intersections of 0.8m at 13.2g/t gold and 1m at 11.30 g/t of gold and historical mine records suggest artisanal miners were exploiting a gold resource estimated to be at a grading of up to 26.9 g/t gold. A 33 hole 6,125 metre drilling exploration programme commenced on 22 November 2011 aimed at converting and supplementing the existing gold resource to a JORC compliant status.

The drilling programme is now complete with all the assay results due in October 2012.

Importantly, the continuation of mineralised Tarkwaian conglomerates has been confirmed, underlining the prospectivity of the project.

The final results will be collated and a suitable action plan communicated. Nyieme Licence - Burkina Faso The 246 sq km Nyieme project is located in the prospective Birimian Greenstone Belt in southern Burkina Faso, West Africa.

A 3,100 metre drilling programme was undertaken in 2011, which defined a resource of 1,395,000 tonnes at 2.06g/t gold for 92,589 ounces.

This focussed on the Nyieme Village high grade zone, which was extended at depth and to the north.

Multiple additional anomalous zones were identified up to 15 metre thick.

Additionally, four newly discovered mineralised zones were identified in the A1 zone, 1.5km south of the Nyieme Village Zone. Goldplat is now constructing a work programme to target additional areas of economic potential.

This will include drill testing the northerly extension of the Nyieme Village Zone, the gap between the Nyieme Village Zone and the A1 Zone, and the four zones at the A1 Zone, which remain open to the north and south.

It also aims to drill test the depth extensions of the zones at A1 Zone, investigate the D Zone for a possible new zone and drill artisanal workings located 3 km to the south of the A1 Zone.

Further exploration work will be conducted on the extension of considerable artisanal workings immediately south of the Nyieme Licence as well as other targets that were highlighted after the initial early 2011 soil sampling programme.

In addition, a regional structural mapping and geophysical programme is being considered. We are also in discussions with other licence holders within the Nyieme project vicinity regarding joint venture and consolidation opportunities to increase our geographic footprint in the country. Outlook Goldplat is developing into a very exciting, robust gold company that is profitable, debt free and has a realistic growth trajectory which I believe will significantly enhance shareholder value.

With revenue generated from three separate areas, I am confident that our growth will continue and we will build on our current value.

If you evaluate us on a cash basis we are currently trading on a PE of approximately 6 which is a huge discount to our peers, and the payment of dividends distinguishes Goldplat further still from other companies in the junior mining sector.

We have a strong asset base and are looking to reinforce our business through the enlargement of our gold recovery business and the Kilimapesa mine in Kenya, as well as by the definition of further ounces and the bringing into production of our extremely promising brownfield sites. Once again our management and staff in all the countries where we operate deserve the thanks of the Board and shareholders for their dedicated and successful efforts on behalf of the Group. Finally and by no means least, I would like to thank Demetri Manolis for his exceptional work in building Goldplat into the company it is today.

He has achieved what he set out to do and has decided to hand over the reins to Russell Lamming, who brings with him, international finance and mining experience.

Demetri will stay as a consultant to the Company and I look forward to working with him and Russell to ensure that the success and growth of Goldplat is maintained over the coming years.
Brian Moritz Chairman For further information visit www.goldplat.com or contact: Russell Lamming, CEO Goldplat plc Tel: +27 (0) 11 423 1203 Ewan Leggat/Katy Birkin Fairfax I.S.

PLC Tel: +44 (0) 20 7598 5368 Felicity Edwards/ Charlotte Heap St Brides Media & Finance Ltd Tel: +44 (0)20 7236 1177
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 30 JUNE 2012
Notes
2012 �000
2011 �000 Continuing operations
Revenue
7
26,225
19,620 Cost of sales
(20,178)
(15,239) Gross profit
6,047
4,381
Administrative expenses
(1,520)
(1,327) Results from operating activities
4,527
3,054
Finance income
925
68 Finance costs
(208)
(119) Net finance costs
11
717
(51)
Exceptional gain
12
-
425
Profit before tax
5,244
3,428
Taxation
13
(600)
(472) Profit for the year
4,644
2,956
Profit attributable to:
Owners of the Company
4,467
2,728 Non-controlling interests
177
228 Profit for the year
4,644
2,956
Other comprehensive income
Exchange translation
(1,625)
(128) Other comprehensive loss for the year, net of tax
(1,625)
(128)
Total comprehensive income for the period
3,019
2,828
Total comprehensive income attributable to:
Owners of the Company
2,842
2,600 Non-controlling interests
177
228 Total comprehensive income for the year
3,019
2,828
Earnings per share - continuing operations
Basic earnings per share (pence)
24
2.77
2.12 Diluted earnings per share (pence)
24
2.53
1.90
CONSOLIDATED STATEMENT OF FINANCIAL POSITION FOR THE YEAR ENDED 3O JUNE 2012
Notes
2012 �000
2011 �000 Assets
Property, plant and equipment
14
4,112
3,903 Intangible assets
15
8,90 9
6,920 Pre-production expenditure
16
3,205
2,748 Proceeds from sale of shares in subsidiary
17
219
383 Non-current assets
16,445
13,954
Inventories
20
4,524
3,367 Trade and other receivables
21
5,863
6,584 Cash and cash equivalents
22
4,575
3,127 Current assets
14,962
13,078
Total assets
31,407
27,032
Equity
Share capital
23
1,679
1,671 Share premium
11,449
11,401 Exchange reserve
23
(1,442)
183 Retained earnings
12,035
7,568 Equity attributable to owners of the Company
23,721
20,823
Non-controlling interests
742
676 Total equity
24,463
21,499
Liabilities
Obligations under finance leases
25
39
62 Provisions
27
181
220 Deferred tax liabilities
28
418
457 Non-current liabilities
638
739
Loans and borrowings
25
2
117 Obligations under finance leases
25
109
157 Taxation
16
43 Trade and other payables
29
6,179
4,477 Current liabilities
6,306
4,794
Total liabilities
6,944
5,533
Total equity and liabilities
31,407
27,032
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED 30 JUNE 2012
Attributable to equity holders of the Company
Share capital �000
Share premium �000
Exchange reserve �000
Retained earnings �000
Total � 000 Non-controlling interest �000
Total equity �000 Balance at 1 July 2011 1,671
11,401
183
7,568
20,823
676 21,499 Total comprehensive income for the year
Profit -
-
-
4,467
4,467
177 4,644 Total other comprehensive income -
-
(1,625)
-
(1,625)
- (1,625) Total comprehensive income for the year -
-
(1,625)
4,467
2,842
177 3,019
Transactions with owners of the Company recognised directly in equity
Contributions by and distributions to owners of the Company
Issue of ordinary shares 8
48
-
-
56
- 56 Total contributions by and distributions to owners of the Company
8
48
-
-
56
-
56
Changes in ownership interests in subsidiaries
Non-controlling interests in subsidiary dividend -
-
-
-
-
(111) (111) Total transactions with owners of the Company 8
48
-
-
56
(111) (55)
Balance at 30 June 2012 1,679
11,449
(1,442)
12,035
23,721
742 24,463
CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2012
Notes
2012 �000
2011 �000
Cash flows from operating activities
Results from Operating Activities
4,527
3,054
Adjustments for:
Depreciation
401
287
Amortisation
111
-
Loss on sale of property, plant and equipment
-
8
Exceptional gain
-
(425)
Equity-settled share-based payment transactions
-
102
Reversal of gold inventory
201
-
Foreign exchange differences
(1,035)
-
4,205
3,026
Changes in:
- inventories
(1,157)
458
- trade and other receivables
721
(4,718)
- trade and other payables
1,688
2,011
- provisions
(39)
-
Cash generated from operating activities
5,418
777
Interest received
925
68
Interest paid
30.1
(194)
(105)
Taxes paid
(666)
(724)
Net cash from operating activities
5,483
16
Cash flows from investing activities
Proceeds from sale of property, plant and equipment
38
16
Acquisition of mining rights
(2,085)
(1,140)
Acquisition of property, plant and equipment
30.2
(1,164)
(680)
Pre-production expenditure
(627)
(1,391)
Net cash used in investing activities
(3,838)
(3,195)
Cash flows from financing activities
Proceeds from issue of share capital
56
5,179
Proceeds from sale of interest in subsidiary undertaking
-
27
Finance leases raised
-
119
Payment of finance lease liabilities
(138)
(107)
Net cash flows (used in)/ from financing activities
(82)
5,218
Net increase in cash and cash equivalents
1,563
2,039
Cash and cash equivalents at 1 July
3,010
1,018
Effect of exchange rate fluctuations on cash held
-
(47)
Cash and cash equivalents at 30 June
22
4,573
3,010
1.

The financial information contained in this announcement does not comprise full statutory accounts. 2.

The financial statements have been prepared in accordance with International Financial Reporting Standards as adopted by the EU.

The financial statements have been prepared on the historical cost basis. 3.

The Board is recommending the payment of a maiden dividend of 0.6p per share, totalling �1.01 million.

If approved, this dividend is expected to be paid on 16 November 2012 to shareholders on the register on 26 October 2012.

The ex-dividend date is 24 October 2012. 4.

The Annual General Meeting of the Company will be held at the Hilton Hotel, Seven Hills Road South, Cobham, Surrey KT11 1EW on Monday 29 October 2012 at 11.00 am. 5.

The report and accounts for the year ended 30 June 2012 will be posted to shareholders 5 October 2012 and will be available on the Companys website at www.goldplat.com on this day. **ENDS**