New South African Joint Venture Formed
Goldplat plc, the AIM listed gold producer, has formed a new Joint Venture company to take advantage of potential acquisition opportunities in South Africa . The Joint Venture company has been formed in line with the country's Black Economic Empowerment ('BEE') policy, with the Johannesburg Stock Exchange's AltX listed BEE backed financial services group Vunani Limited ('Vunani'), through Goldplat's wholly owned subsidiary, Gold Minerals Resources Limited ('GMR').
GMR and Vunani hold 74 per cent. and 26 per cent. of the share capital of the Joint Venture company respectively. The Joint Venture company will seek to look at acquisition opportunities in South Africa and provide a structure for the Company to acquire interests in South African mining assets that meet the requirements of the BEE policy regarding the percentage of ownership to be retained by eligible persons .
Goldplat's CEO, Demetri Manolis said, "To date, we have made great progress in building an established gold recovery operation in South Africa . With an aggressive growth strategy in place, we are now looking to expand our portfolio to further enhance our asset base. In line with this, I am very excited to be joining forces with Vunani and I believe that together we are ideally placed to take advantage of a number of highly interesting mining opportunities within the country."
For further information visit www.goldplat.com or contact:
Demetri Manolis, CEO Goldplat plc, Tel: +27 11 423 1203, Mob: +27 82 454 7392
James Joyce WH Ireland Limited, Tel: +44 (0)20 7220 1666
Isabel Crossley St Brides Media & Finance Ltd, Tel: +44 (0)20 7242 4477
Goldplat plc is an AIM-listed gold producer with operations in Africa . Its strategy is to create a mid-tier mining house focused on gold production leveraged through revenue generated from its gold recovery businesses.
The Company has two recovery business based in South African and Ghana, which, by safely disposing of mining by-products, fulfill 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 is expanding into gold mining through the acquisition of known deposits with targets of between 200,000 and one million ounces of ore contained. To this end, in a 50/50 JV, it is developing the potential of the highly prospective 213 sq km Lolgorien licence area located in the historically producing Migori Archaean Greenstone Belt in western Kenya , with a view of establishing a mining operation in the short term. A number of other potential projects across Africa are under review.
Goldplat is a profitable, African gold recovery services company . . .More info...
Goldplat has two profitable gold recovery businesses in South Africa and Ghana . . .More info...
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