Operations Update
(Thomson Reuters ONE) - Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration15 December 2009 Goldplat plc ('Goldplat' or 'the Company') Operations UpdateGoldplat plc, the AIM quoted gold producer, is pleased to provide anoperations update for its gold recovery businesses in South Africaand Ghana and its Kilimapesa gold mining project in Kenya, which isapproaching commercial production and will positively impact theCompany's FY2010 gold production.Goldplat's CEO Demetri Manolis said, "The processing operations inSouth Africa and Ghana are generating significant cash through theoptimisation and expansion of the recovery plants. We are delightedby the progress being made and will, according to our business model,look to utilise this cash flow to expand our project portfolio intoprimary production projects. Accordingly we are evaluatingadditional opportunities that we believe have the potential tomaterially impact the Company's performance moving forward.Furthermore we are excited about the advancements being made in Kenyaand look forward to receiving the go-ahead for commercial productionin Kenya, which will contribute positively to our financialperformance when operational."South Africa: Goldplat Recovery (Pty) Ltd ('Goldplat Recovery') -Gold processing operations continuing to perform stronglyGoldplat Recovery is progressing well with the operation continuingto develop strong cash flow. The design work for an intensivecyanidation plant to leach the gravity concentrates and load goldonto carbon for elution is finished and instillation is due tocommence imminently. As a result of this, the Company willpredominantly sell its gold in the form of a bullion bar, instead ofin concentrates, which will result in significant cost savings intransport and processing costs. Furthermore, this will improve thecash flow as bullion is paid for within a few days compared to a fewmonths for concentrates.Additionally, in line with the Company's expansion plans, GoldplatRecovery is reviewing opportunities to acquire a mining asset toexpand production into the primary gold producing sector.Ghana: Gold Recovery Ghana Limited ('GRG') - Gold productionincreasing and development proceeding according to planIn Ghana, progress remains strong and on track. The incinerator hasbeen commissioned and has produced ash with grades exceeding 600 g/tgold from relatively low grade material.GRG is also progressing with the design and purchase of an elutionplant, which will enable it to export bullion rather than loadedcarbon. This will improve cash flow and significantly reduce thetransport costs and the carbon consumption, as the carbon isregenerated in the elution plant and returned to the carbon in leachcircuit.As in South Africa, design and test work is complete and constructionis due to commence imminently for the instillation of an intensivecyanidation plant. As a result of this, the gold in the concentrateswill be beneficiated to bullion form with resultant significant costsavings in transport and processing costs. Also, as with the SouthAfrican operation, this plant will also improve the cash flow, asonce again, bullion is paid for within a few days compared to a fewmonths for concentrates.The Ghanaian Minister of Mines visited the facilities in Tema and wasimpressed with the added value operation. The Company enjoys anexcellent relationship with the authorities in Ghana and looksforward to this continuing as it focuses on developing its businesswith major producers operating within the country.Gold Recovery Ghana is also in reviewing opportunities to acquire amining project in Ghana.Kilimapesa Gold (Pty) Ltd ('Kilimapesa Gold') and the Kilimapesa Hillgold mining project ('Kilimapesa') - closing in on commercial goldproductionKilimapesa Gold has made excellent progress with the application forthe Mining Lease at Kilimapesa, located in South Western Kenya withinthe historically producing Migori Archaean Greenstone Belt.The National Environmental and Management Agency has issued thelicence for the Environmental Impact Assessment and the localauthority has set aside the land for mining purpose. All otherconditions for the Mining Lease have now been met. The Commissionerof Mines and Geology has approved the Mining Lease application andall that is now required is the final ratification by the Minister ofEnvironment 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 1203James Joyce WH Ireland Limited Tel: +44 (0) 20 7220 1666David Porter WH Ireland Limited Tel: +44 (0) 20 7220 1666Bill Sharp Alexander David Securities Tel: +44 (0)20 Limited 7448 9820David Scott Alexander David Securities Tel: +44 (0)20 Limited 7448 9820Felicity Edwards St Brides Media & Finance Ltd Tel: +44 (0)20 7236 1177Isabel Crossley St Brides Media & Finance Ltd Tel: +44 (0)20 7236 1177Notes:Goldplat is an AIM-listed gold producer with operations in Africa.Its strategy is to consolidate its position as a gold producer inAfrica and build itself into a highly profitable mid-tier goldcompany, leveraged through revenue generated from its gold recoverybusinesses.The Company has two recovery businesses based in South Africa andGhana producing circa 21,000 ounces of gold per year. These safelydispose of mining by-products, and fulfil an important aspect of themines' environmental management programmes. The South African plantis located near the centre of the East Rand Goldfield and rawmaterial feedstocks are sourced from many of the major South Africanmining companies, including AngloGold Ashanti, Goldfields, Harmony,DRD Gold and other smaller producers. The Ghana plant, located inthe free port of Tema, provides access to raw materials from mines inMali, Guinea, Burkina Faso, Benin, Cote D'Ivorie, Senegal, the DRCand Mauritania, as well as Ghana.Goldplat is looking to increase its asset base through theacquisition of known deposits with targets of between 200,000 and onemillion contained ounces. To this end, it is developing its whollyowned Kilimapesa Gold mining project, located in the historicallyproducing Migori Archaean Greenstone Belt in western Kenya.Kilimapesa Gold commenced initial production in January 2009 and hasannounced an initial JORC-compliant resource of 1.65Mt at 2.44 g/t Aufor 129,000 oz Au at a cut-off grade of 1 g/t Au for all categories.---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 15.12.2009 - 08:01 Uhr
Sprache: Deutsch
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