Goldplat plc Completion Of Elution Plant In Ghana

 
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: [phone] 
                            (CEO) 
Colin Aaronson / Jen       Grant Thornton UK LLP     Tel: [phone] 
Clarke                     (Nominated Adviser) 
James Joyce / Jessica      WH Ireland Limited        Tel: [phone] 
Cave                        (Broker) 
Charlotte Page / Susie     St Brides Partners Ltd    Tel: [phone] 
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.