your initial deposit *subject to change and depends on individual circumstances.
Goldplat is a profitable, African gold producer and exploration company with five primary assets including three mining and development projects in Kenya, Burkina Faso and Ghana, and two profitable gold recovery operations in South Africa and Ghana. It is registered on AIM trading under the symbol GDP.
RNS Release - Gold Production Business' in South Africa and
Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
23 August 2011
Goldplat plc ('Goldplat' or 'the Company')
Gold Production Business' in South Africa and Ghana Continue to Expand
Goldplat plc, the AIM quoted gold producer, is pleased to announce that it has
signed a Letter of Intent ('LOI') with DRD Gold SA ('DRD Gold'), a mid-tier gold
producer, securing further feedstock for the Company's South African operation,
Goldplat Recovery (Pty) Ltd ('Goldplat Recovery'). The agreement enhances the
Company's relationships with gold miners in South Africa, (current clients
include AngloGold Ashanti, Goldfields, Harmony, and other smaller producers),
and provides additional feedstock for its expanding recovery operation.
Under the terms of the LOI, Goldplat Recovery will initially undertake analysis
of all of surface reserves from DRD Gold's East Rand Proprietary Mines (ERPM)
operation, including old shaft areas, railway lines and the gold plant itself,
following which contracts will be signed based on the volumes, grades and
recovery for the viable reserves established.
In Ghana, Goldplat's second gold recovery business Gold Recovery Ghana Limited
('GRG') is making solid progress in the expansion of the business and processing
operation. The Company is currently in discussions with West African mining
companies in Mali and Burkina Faso regarding the acquisition of further
processing by-products for gold recovery. In light of this, Goldplat is set to
order an additional furnace to be installed by Q1 2012 to enable the Company to
increase GRG's gold processing capacity, which will be funded by internal cash
flow. The Company will update the market on these developments in due course.
Goldplat's CEO Demetri Manolis said, "We continue to expand our gold recovery
business' and build relationships within our core market areas. Gold production
for the year to 30 June 2010 was 21,461 ounces and we believe that with
additional contracts we will continue to build on our performance and further
increase production. We look forward to publishing our final results in
September 2011 which will highlight the strong growth and in turn profitably of
* * ENDS * *
For further information visit www.goldplat.com or contact:
Demetri Manolis, CEO Goldplat plc Tel: +27 (0) 11 423 1203
James Joyce WH Ireland Limited Tel: +44 (0) 20 7220 1666
Felicity Edwards St Brides Media & Finance Ltd Tel: +44 (0)20 7236 1177
Hugo de Salis St Brides Media & Finance Ltd Tel: +44 (0)20 7236 1177
Goldplat plc is an AIM-listed gold producer with operations in Africa. Its
strategy is to consolidate its position as a gold producer in Africa and build
itself into a mid-tier gold company.
The Company has two recovery businesses based in South Africa and Ghana, which,
by safely disposing mining by-products, fulfil an important aspect of the mines'
environmental management programmes. The South African plant is located near
the centre of the East Rand Goldfield and raw material feedstocks are sourced
from many of the major South African mining companies, including AngloGold
Ashanti, Goldfields, Harmony, DRD Gold and other smaller producers. The Ghana
plant, located in the free port of Tema, provides access to raw materials from
mines in Mali, Guinea, Burkina Faso, Benin, Cote D'Ivore, Senegal, the DRC and
Mauritania, as well as Ghana.
Goldplat's strategy is to build itself into a mid-tier gold producer, through
the acquisition of known deposits with targets of between 200,000 and one
million contained ounces. Kilimapesa Gold is a wholly owned subsidiary of
Goldplat and is developing the potential of the 213 sq km Lolgorien licence area
located in the historically producing Migori Archaean Greenstone Belt in western
Kenya. Kilimapesa Gold commenced initial production in January 2009 and an
aggressive exploration and development programme resulted in a maiden JORC
compliant resource being reported in October 2009.
Goldplat also has an option over the 246 sq km Nyieme Gold Project located in
Burkina Faso, which includes known high-grade quartz vein structures, with drill
core results showing up to 17.83 g/t gold over one metre and 11.67 g/t over
five metres. A maiden resource was announced in December 2010 of 685,000 tonnes
at 2.61 g/t Au for 57,501oz Au at a cut-off grade of 1.0 g/t Au for all
categories and an exploration programme is currently in progress which is
intended to increase this resource.
Additionally, the Company has acquired the Banka Mining Lease, a ten year
renewable mining lease for gold and associated minerals covering an area of 29
sq km located in the Amansie East and Asante Akim South Districts of the Ashanti
Region of the Republic of Ghana. The Company is now implementing a defined
development plan with a view to proving a JORC compliant resource.
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Source: Goldplat plc via Thomson Reuters ONE