Goldplat plc, the AIM listed African gold producer, is pleased to announce further progress on capital projects aimed at improving the production and efficiency of its gold recovery operation in South Africa, Goldplat Recovery (Pty) Limited ('GPL'), an update on the progress at its Kilimapesa Gold ('Kilimapesa') in Kenya, and confirm GPL's continued status as a Responsible Gold producer.
GPL capital projects
- A replacement mill was commissioned in the low-grade circuit in mid-September 2015, replacing the previous mill that had reached its end of life. The new mill has the same capacity as the original mill but will enable more continuous operation by reducing the extensive and unplanned maintenance required to keep the original mill operational. The mill comes online in time to process the feed material that was originally planned for the high grade circuit which will now be designated to the Rand Refinery project to enable greater levels of materials to be processed.
- A new pumping station has been commissioned at the tailings retreatment carbon-in-leach ('CIL') plant to increase the volume of material to be pumped to the tailings facility. This process improvement will have a positive impact allowing for an additional 0.5-1kg of gold production per month from the existing residue streams.
- The new liquid cyanide storage facility was successfully commissioned and the first delivery of liquid cyanide has been made by a local South African supplier. This local procurement will allow GPL to further reduce its costs in addition to the considerable savings achieved since automation was implemented in 2013.
- The dewatering and equipping of the Teng-Teng decline shaft and existing reef drives have been completed. This area (which falls within the Kilimapesa exploration license) is known to be high grade and Goldplat will re-commence the on-reef exploration started by the previous owners with a view to increasing resources and ultimately providing mining flexibility and a high-grade feed to the processing plant.
- As reported previously (see RNS of November 2013) the cross-cut at 'Adit D' encountered unstable ground and the decision was taken, for safety reasons, to close it permanently. The cross-cut has been re-accessed successfully from a new adit, at a point beyond the unstable ground. The area where the new adit has intersected the old cross-cut is currently being made safe and will be cleared and equipped to ensure safety and stability going forward. This new adit and cross-cut will provide access to six additional reef drives which will be used to delineate a new level of mining which will increase production and flexibility.
Responsible Gold Producer
- Deloitte & Touche re-issued an assurance statement with respect to GPL's Responsible Gold Accreditation. The Company is very pleased with this achievement and will continue to follow the Responsible Gold guidelines in all procurement processes.
Gerard Kisbey-Green, CEO of Goldplat plc commented: "We are delighted to announce the completion of further capital projects at GPL - once again all successfully financed internally despite the cashflow problems experienced throughout the past 18 months, to avoid any potential dilution for shareholders. With intense scrutiny now being given to the planning, prioritising, and completion of capital projects on time and within budget, the new momentum is pleasing and we look forward to seeing the results in increased flexibility, production and profitability at our leading South African gold recovery operation."
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For further information visit www.goldplat.com or contact:
|Gerard Kisbey-Green, CEO||Goldplat plc||Tel: +27 (71) 8915775|
|Ewan Leggat/Jeff Keating||SP Angel Corporate Finance LLP||Tel: +44 (0) 20 3470 0470|
|Andrew Raca/Justin McKeegan||VSA Capital||Tel: + 44 (0)20 3005 5000|
|Felicity Winkles/Charlotte Heap||St Brides Media Partners Ltd||Tel: +44 (0) 20 7236 1177|
Goldplat plc, is an AIM-listed gold recovery services company with two market leading operations in South Africa and Ghana. The Company's strategy is focussed on utilising its cash flow generated from flagship gold recovery operations in Africa to self-fund sustainable growth and expansion of niche gold recovery business model. The Company also has a small gold mining and exploration portfolio in Kenya, Burkina Faso and Ghana and is evaluating various opportunities to create value or monetise these assets.
Goldplat is a profitable, African gold recovery services company . . .More info...
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