Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining &
4 June 2009
Goldplat plc ('Goldplat' or 'the Company')
Progress Report on South African and Ghanaian Gold Recovery
Goldplat plc, the AIM quoted gold producer, is pleased to provide an
operations update for its two gold recovery businesses in South
Africa and Ghana.
* South African and Ghanaian gold recovery processing
operations continuing to perform strongly
* South Africa
o Further stockpiles secured - agreements signed with AngloGold
Ashanti and Mintails SA (Pty) Ltd's Mogale Gold to purchase
stockpiles of gold bearing raw material
o Total stockpiles increased to 53,000 oz of contained gold, in
raw materials for processing, of which 37,000 oz are on site and
16,000 oz are secured offsite
o Identified and evaluated a significant number of surface
stockpiles of gold bearing material with high gold grades in the
Konongo area in Ghana
Goldplat's CEO Demetri Manolis said, "Our gold recovery processing
operations continue to be cash generative and profitable. As we
secure additional contracts with many of the mining majors, we are
continuing to building our inventory to ensure the long-term supply
of gold bearing materials for processing."
South Africa: Goldplat Recovery (Pty) Ltd ('Goldplat Recovery')
Goldplat Recovery's processing operations are continuing to perform
strongly and in line with management expectations. Further progress
has been made to secure new raw materials, and ensure the long-term
supply of gold bearing feedstock for processing. An agreement has
been finalised with AngloGold Ashanti Limited ('AngloGold Ashanti')
to purchase a total of 86,500 tonnes gold bearing raw material from
its West Wits and Vaal River operations in South Africa. At the West
Wits operation 5,000 tonnes were secured and bulk samples were taken
from two stockpiles providing another 6,500 tonnes for processing.
At the Vaal River operation, rights to two stockpiles totalling
75,000 tonnes have been secured and bulk sampling to analyse the
grade content is underway. Additionally, Goldplat has secured the
rights to raw material from a process water storage dam at the Savuka
operation, which will be extracted by AngloGold Ashanti and
transported to Goldplat's recovery plant.
Goldplat Recovery has also signed an agreement with Mintails SA (Pty)
Ltd's Mogale Gold operation in the Krugersdorp area for the purchase
of a significant stockpile, circa 2,000 tonnes of gold bearing waste
material. Bulk sampling is yet to be conducted to determine the
average grade of the stockpile.
Goldplat Recovery's total stockpiles now stand at 53,000 oz of
contained gold, in raw materials for processing, of which 37,000 oz
are on-site and 16,000 oz are secured off-site. This equates to four
years of current woodchip production capability, three years of
gravity concentration capacity and four years of leach capacity.
In line with Goldplat's development initiatives, the installation of
increased flotation capacity is progressing well and is expected to
be completed in August 2009. This will enhance the flexibility and
recovery of gold and platinum materials on site.
Ghana: Gold Recovery Ghana Limited ('GRG')
In Ghana, GRG has identified and evaluated a significant number of
surface stockpiles of gold bearing material with high gold grades in
the Konongo area in Ghana. The Company is in the process of
negotiating to purchase these stockpiles. Additionally, GRG signed
an agreement with Midlands Minerals Corporation, a company listed on
the Toronto Venture Exchange (MEX: TSX), to recover gold from carbon
fines located at the Sian property in Ghana. These raw materials
will add to GRG's total stockpiles of 35,000 oz of contained gold, in
raw materials equating to eight years production capability.
As part of GRG's optimisation programme, a carbon incinerator, which
will be used to burn stockpiles of woodchips as part of the gold
recovery process, has been shipped from South Africa to Tema, and is
expected to arrive at the plant in mid June 2009.
* * ENDS * *
For further information visit www.goldplat.com or contact:
Demetri Manolis, CEO Goldplat plc Tel: +27 (0) 11
James Joyce WH Ireland Limited Tel: +44 (0) 20
Sarang Shah WH Ireland Limited Tel: +44 (0) 20
Bill Sharp Alexander David Securities Tel: +44 (0)20
Limited 7448 9820
David Scott Alexander David Securities Tel: +44 (0)20
Limited 7448 9820
Felicity Edwards St Brides Media & Finance Ltd Tel: +44 (0)20
Isabel Crossley St Brides Media & Finance Ltd Tel: +44 (0)20
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 highly profitable mid-tier
gold company, leveraged through revenue generated from its gold
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'Ivorie, Senegal, the DRC and Mauritania, as well as Ghana.
Goldplat's strategy is to build itself into a highly profitable
mid-tier gold producer, through the acquisition of known deposits
with targets of between 200,000 and one million contained ounces. To
this end, in a 50/50 JV, it is developing the potential of the 213 sq
km Lolgorien licence area ('Kilimapesa Gold'), 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 has been
implemented to define a JORC compliant resource at the project.
Additionally the Company is currently evaluating gold recovery
operations in Tanzania and Zambia and also has joint venture
agreements with Black Economic Empowerment ('BEE') partners in place
to take advantage of mining opportunities in South Africa.
---END OF MESSAGE---
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.