Progress Report on Ghana Operations
Goldplat plc, the AIM quoted gold producer, has, though its Ghanaian gold recovery business, Gold Recovery Ghana Limited ('GRG'), signed an ongoing agreement with AngloGold Ashanti (Ghana) Limited ('AngloGold') to purchase gold bearing materials for processing at its operations in Tema, Ghana. The Company is confident that the gold produced from these materials will increase GRG's overall monthly gold production figures.
GRG provides an economic method for mines to dispose of waste materials while meeting environmental obligations. In line with this, the agreement will see GRG acquire fine carbon and mill liners, which are by-products from the mining process, from AngloGold's Obuasi and Iduapriem gold mining operations in Ghana , where stockpiles of these materials have accumulated. It is anticipated that the first load of materials are expected to be delivered to GRG by beginning of April 2010.
Goldplat's CEO Demetri Manolis said, "Our gold recovery processing operations both in Ghana and South Africa continue to be cash generative and profitable. We are focussed on increasing production at GRG, so were delighted to strengthen an existing relationship with one of the major mining companies, AngloGold, and secure additional long-term supplies of gold bearing materials for processing and future production."
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 Ltd||Tel: +44 (0)20 7448 9820|
|David Scott||Alexander David Securities Ltd||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|
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 D'Ivorie, 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 two projects; its wholly owned Kilimapesa Gold mining project, located in the historically producing Migori Archaean Greenstone Belt in western Kenya and the prospective 246 sq km Nyieme Gold Project in Burkina Faso with a view to establishing a mining operations in the short term.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.
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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