Goldplat plc Completion Of Elution Plant In Ghana
March 29 2018 - 2:00AM
UK Regulatory
TIDMGDP
Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
29 March 2018
Goldplat plc ('Goldplat' or 'the Company')
Completion of Elution Plant in Ghana
Goldplat, the AIM quoted gold producer with international gold recovery
operations based in South Africa and Ghana and a gold mine in Kenya, is
pleased to announce that its subsidiary Gold Recovery Ghana ('GRG') has
completed the installation and commissioning of an elution plant and all
associated ancillary equipment at its site in Tema, Ghana.
When GRG's Ghanaian licence to purchase and deal in gold was renewed in
December 2016, one of the requirements of the renewal was that an
elution plant be installed and brought into production by 30 June 2018
(see announcement of 20 December 2016). In line with the announcement
made on 30 January 2018, elutions are now ongoing and the first gold was
poured during March 2018. An official opening of the plant will be
scheduled as soon as the necessary arrangements can be made with The
Ministry of Mines.
Having the infrastructure to elute and to smelt on-site in Ghana not
only fulfils the requirements set out in the licence renewal but it
makes economic sense for GRG, Goldplat and the local community, as with
further beneficiation to gold Dore bars being carried out in-country,
additional employment opportunities are created and cost savings are
achieved for GRG. Furthermore, the addition of this infrastructure adds
to the ability to expand Goldplat's recovery operations using GRG as a
hub and is in line with Goldplat's strategic growth objectives.
Gerard Kisbey-Green, CEO of Goldplat commented: "I am very pleased to be
able to report that Goldplat has completed this capital project three
months ahead of the initial deadline and within our initial budget.
Completing this project internally is yet another example of the
benefits of having an experienced in-house engineering team. I would
like to take this opportunity to congratulate the engineering teams as
well as the GRG production teams on another job well done!"
** ENDS **
For further information visit www.goldplat.com, follow on Twitter
@GoldPlatPlc or contact:
Gerard Kisbey-Green Goldplat plc Tel: +27 (71) 8915775
(CEO)
Colin Aaronson / Jen Grant Thornton UK LLP Tel: +44 (0) 20 7383 5100
Clarke (Nominated Adviser)
James Joyce / Jessica WH Ireland Limited Tel: +44 (0) 207 220 1666
Cave (Broker)
Charlotte Page / Susie St Brides Partners Ltd Tel: +44 (0) 20 7236 1177
Geliher (Financial PR)
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this announcement,
this inside information is now considered to be in the public domain.
About Goldplat
Goldplat plc is an AIM quoted gold producer with two market leading
recovery operations in South Africa and Ghana and an operational gold
mine in Kenya. The Company produced 42,857 ounces of gold during FY
2017, with 40,285 gold equivalent ounces sold and transferred, resulting
in an operating profit from continuing operations of GBP2.9m for the
year. This result does not benefit from the increased processing
capacity that was achieved at the Kilimapesa Gold Mine towards the end
of FY 2017, with operational profitability achieved during last two
months of FY 2017. Accordingly, the Company believes it is well placed
to build upon production and profitability during FY 2018.
The Company's strategy is focussed on utilising cash flow generated from
its flagship gold recovery and mining operations to self-fund the
sustainable growth and expansion of its niche gold recovery business
model internationally. The Company is also committed to increasing its
primary mining production output through acquisition / gaining interests
in producing or near-production assets, preferably in Africa. Goldplat
retains exposure to a small exploration project in Ghana, in which
Ashanti Gold Corp. is earning an interest via an earn-in option
agreement.
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Goldplat plc via Globenewswire
(END) Dow Jones Newswires
March 29, 2018 02:00 ET (06:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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