Completion Of Elution Plant In Ghana

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
29 March 2018
Goldplat plc ('Goldplat' or 'the Company')
Completion of Elution Plant in Ghana

Goldplat, the AIM quoted gold producer with international gold recovery operations based in South Africa and Ghana and a gold mine in Kenya, is pleased to announce that its subsidiary Gold Recovery Ghana ('GRG') has completed the installation and commissioning of an elution plant and all associated ancillary equipment at its site in Tema, Ghana.

When GRG's Ghanaian licence to purchase and deal in gold was renewed in December 2016, one of the requirements of the renewal was that an elution plant is installed and brought into production by 30 June 2018 (see the announcement of 20 December 2016). In line with the announcement made on 30 January 2018, elutions are now ongoing and the first gold was poured during March 2018. An official opening of the plant will be scheduled as soon as the necessary arrangements can be made with The Ministry of Mines.

Having the infrastructure to elute and to smelt on-site in Ghana not only fulfills the requirements set out in the licence renewal but it makes economic sense for GRG, Goldplat, and the local community, as with further beneficiation to gold Dore bars being carried out in-country, additional employment opportunities are created and cost savings are achieved for GRG. Furthermore, the addition of this infrastructure adds to the ability to expand Goldplat's recovery operations using GRG as a hub and is in line with Goldplat's strategic growth objectives.

Gerard Kisbey-Green, CEO of Goldplat commented: "I am very pleased to be able to report that Goldplat has completed this capital project three months ahead of the initial deadline and within our initial budget. Completing this project internally is yet another example of the benefits of having an experienced in-house engineering team. I would like to take this opportunity to congratulate the engineering teams as well as the GRG production teams on another job well done!"

Gerard Kisbey-Green CEO Goldplat plc Tel: +27 (71) 8915775
Colin Aaronson / Daniel Bush Grant Thornton UK LLP (Nominated Adviser) Tel: +44 (0) 20 7383 5100
James Joyce / Jessica Cave WH Ireland Limited (Broker) Tel: +44 (0) 207 220 1666
Charlotte Page / Susie Geliher St Brides Partners Ltd (Financial PR) Tel: +44 (0) 20 7236 1177

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