Pre-payment facility agreed with Auramet International
Goldplat plc, the AIM listed African gold producer, announces that its gold recovery operation in Ghana, Gold Recovery Ghana ("GRG") has received cash of USD1.4 million on 5 November 2015 in respect of the backlog material sold to Aurubis AG. This receipt will enable GRG to make payments to two of Goldplat's major gold material suppliers in Ghana, which, in turn, will enable GRG to draw materials from those suppliers and accelerate expansion in Ghana.
To achieve this GRG entered into a pre-payment agreement with Auramet International LLC ("Auramet"), on 20 October 2015 (the "Pre-payment Agreement"). The effect of the Pre-payment Agreement is to accelerate receipt of funds due from Aurubis in December 2015 and January 2016. The Pre-payment Agreement provides for the payment of interest at three month Libor plus 5% on an annualised basis, so that the cost to the Group is expected to be approximately 1% of the amount received, or approximately $15,000.
GRG may avail itself of this facility in future, as and when required.
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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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