Kilimapesa Gold - Kenya

The Company commenced mining at Kilimapesa and poured its first gold in January 2012 - this was Kenya's first gold mine to be commissioned since independence in 1963. Kilimapesa has a JORC-compliant resource of 8,715,291 tonnes at 2.40 g/t Au for 671,446oz of gold at a cut-off grade of 1 g/t of gold for all categories.

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Goldplat undertook a company strategic review in Q1 2013 which focussed on identifying and realigning the Company’s business model to primarily concentrate on its strong cash generating capabilities of its core gold recovery operations in South Africa and Ghana and the growth potential of this business across the continent.

Accordingly, in order to eliminate the losses caused by continued operational constraints and an uncertain gold price environment, Kilimapesa is currently on a limited mining and development programme, which is maintained on a skeleton staff to significantly reduce overheads. Since 1 July 2014, plant improvements at a minimal cost have increased the recovery and gold production at Kilimapesa despite the limited milling capacity and indications are that the increased gold production will enable the mine to operate near breakeven despite the current plant design limitations.

The Company is currently evaluating proposals for potential joint venture partners in order to best realise value from this Project going forward.