Sign up UNITED KINGDOM
Proactive Investors - Run By Investors For Investors

Goldplat identifies 82,000 oz of gold in South African tailings

"82,000 ounces of gold on our property with minimal mining costs and relatively simple processing is a great resource to have," said its chief executive.
Goldplat identifies 82,000 oz of gold in South African tailings
“Our next step will be to optimise the metallurgical extraction of the gold"

Goldplat (LON:GDP) has completed a JORC-compliant resource statement for the tailings storage facility at its gold recovery operations in South Africa.

Applied Geology and Mining carried out the survey and estimated a total of 81,959 ounces of gold, 216,094 ounces of silver and 193,276 pounds of uranium oxide.

Gerard Kisbey-Green, chief executive, said:  "This is a great result for Goldplat - the amount of gold estimated is in the order of what we were hoping for and the silver and uranium is an added bonus!”

"This is a resource "sitting on our doorstep" which has already been mined and processed and should therefore be very cost-effective to process.

"82,000 ounces of gold on our property with minimal mining costs and relatively simple processing is a great resource to have.

“Our next step will be to optimise the metallurgical extraction of the gold and silver, and determine how best to monetise the uranium resource."

Although the company is keen to optimise the extraction and recovery process, Kisbey-Green was quick to add "We don't want to get into the uranium producer game."

The resource was separated between the metals contained in the TSF slimes and metal in the soils beneath the TSF as a result of leaching over the years.

VSA Capital believe that the low cost and relatively simple feedstock material from the TSF should support margins going forward.

The broker went on to say: "with GDP’s ongoing operational recovery we believe that this further transparency should provide investors with further confidence in GDP’s ability to deliver a sustained turnaround."

Share price stood at 3.88p, up 10.71%.

PhilW.jpg
Why Invest In Goldplat plc? Read More Here

Register here to be notified of future GDP Company articles
View full GDP profile

Goldplat plc Timeline

Big Picture
February 22 2016

Related Articles

Ingots_56ab299f71f71.jpg
March 08 2016
Pan African Resources has built a solid and stable mid-tier gold producer on the back of two key assets in South Africa
gold_nuggets,_sized_565489150105e.png
November 24 2015
Yaoure is one of the largest undeveloped gold projects in Africa
Glencore1.jpg
April 19 2016
In recent full year results, Gold Resource Corporation chief Jason Reid said for 2016 the miner was "preparing for the worst while hoping for the best".

© Proactive Investors 2016

Proactive Investor UK Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.