🕐15.12.09 - 09:47 Uhr
Goldplat - AIM gold producer - Operations Update
Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
15 December 2009
Goldplat plc (Goldplat or the Company)
Operations Update
Goldplat plc, the AIM quoted gold producer, is pleased to provide an
operations update for its gold recovery businesses in South Africa and
Ghana and its Kilimapesa gold mining project in Kenya, which is
approaching commercial production and will positively impact the
Companys FY2010 gold production.
Goldplats CEO Demetri Manolis said, "The processing operations in South
Africa and Ghana are generating significant cash through the
optimisation and expansion of the recovery plants.
We are delighted by
the progress being made and will, according to our business model, look
to utilise this cash flow to expand our project portfolio into primary
production projects.
Accordingly we are evaluating additional
opportunities that we believe have the potential to materially impact
the Companys performance moving forward.
Furthermore we are excited
about the advancements being made in Kenya and look forward to receiving
the go-ahead for commercial production in Kenya, which will contribute
positively to our financial performance when operational."
South Africa: Goldplat Recovery (Pty) Ltd (Goldplat Recovery) - Gold
processing operations continuing to perform strongly
Goldplat Recovery is progressing well with the operation continuing to
develop strong cash flow.
The design work for an intensive cyanidation
plant to leach the gravity concentrates and load gold onto carbon for
elution is finished and instillation is due to commence imminently.
As
a result of this, the Company will predominantly sell its gold in the
form of a bullion bar, instead of in concentrates, which will result in
significant cost savings in transport and processing costs.
Furthermore, this will improve the cash flow as bullion is paid for
within a few days compared to a few months for concentrates.
Additionally, in line with the Companys expansion plans, Goldplat
Recovery is reviewing opportunities to acquire a mining asset to expand
production into the primary gold producing sector.
Ghana: Gold Recovery Ghana Limited (GRG) - Gold production increasing
and development proceeding according to plan
In Ghana, progress remains strong and on track.
The incinerator has
been commissioned and has produced ash with grades exceeding 600 g/t
gold from relatively low grade material.
GRG is also progressing with the design and purchase of an elution
plant, which will enable it to export bullion rather than loaded carbon.
This will improve cash flow and significantly reduce the transport costs
and the carbon consumption, as the carbon is regenerated in the elution
plant and returned to the carbon in leach circuit.
As in South Africa, design and test work is complete and construction is
due to commence imminently for the instillation of an intensive
cyanidation plant.
As a result of this, the gold in the concentrates
will be beneficiated to bullion form with resultant significant cost
savings in transport and processing costs.
Also, as with the South
African operation, this plant will also improve the cash flow, as once
again, bullion is paid for within a few days compared to a few months
for concentrates.
The Ghanaian Minister of Mines visited the facilities in Tema and was
impressed with the added value operation.
The Company enjoys an
excellent relationship with the authorities in Ghana and looks forward
to this continuing as it focuses on developing its business with major
producers operating within the country.
Gold Recovery Ghana is also in reviewing opportunities to acquire a
mining project in Ghana.
Kilimapesa Gold (Pty) Ltd (Kilimapesa Gold) and the Kilimapesa Hill
gold mining project (Kilimapesa) - closing in on commercial gold
production
Kilimapesa Gold has made excellent progress with the application for the
Mining Lease at Kilimapesa, located in South Western Kenya within the
historically producing Migori Archaean Greenstone Belt.
The National Environmental and Management Agency has issued the licence
for the Environmental Impact Assessment and the local authority has set
aside the land for mining purpose.
All other conditions for the Mining
Lease have now been met.
The Commissioner of Mines and Geology has
approved the Mining Lease application and all that is now required is
the final ratification by the Minister of Environment and Resources.
Once this is officially approved, Kilimapesa Gold will be permitted to
make commercial sales of gold.
* * 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
David Porter
WH Ireland Limited
Tel: +44 (0) 20 7220 1666
Bill Sharp
Alexander David Securities Limited
Tel: +44 (0)20 7448 9820
David Scott
Alexander David Securities Limited
Tel: +44 (0)20 7448 9820
Felicity Edwards
St Brides Media & Finance Ltd
Tel: +44 (0)20 7236 1177
Isabel Crossley
St Brides Media & Finance Ltd
Tel: +44 (0)20 7236 1177
Notes:
Goldplat 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 recovery businesses.
The Company has two recovery businesses based in South Africa and Ghana
producing circa 21,000 ounces of gold per year.
These safely dispose of
mining by-products, and 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 DIvorie, Senegal, the DRC and Mauritania, as well as
Ghana.
Goldplat is looking to increase its asset base through the acquisition
of known deposits with targets of between 200,000 and one million
contained ounces.
To this end, it is developing its wholly owned
Kilimapesa Gold mining project, located in the historically producing
Migori Archaean Greenstone Belt in western Kenya.
Kilimapesa Gold
commenced initial production in January 2009 and has announced an
initial JORC-compliant resource of 1.65Mt at 2.44 g/t Au for 129,000 oz
Au at a cut-off grade of 1 g/t Au for all categories.
Felicity Edwards
St Brides Media and Finance Ltd
Chaucer House
38 Bow Lane
London
EC4M 9AY
Tel: +44 (0) 207 236 1177
Mob: +44 (0) 7748 843871
Fax: +44 (0) 207 236 1188
Email:
Web: www.sbmf.co.uk
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