Business
Ghana Operations Progress Report
Ghana Operations Progress Report.
About this update from Goldplat Plc
[{"type":"text","content":"\n \n\n\n\n Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining &\n Exploration\n28 April 2008\n Goldplat plc ('Goldplat' or 'the Company')\n Progress Report on Ghana Operations\n \nGoldplat plc, the AIM listed gold producer, is pleased to announce\nthat its gold recovery plant in Ghana, operated by its wholly owned\nsubsidiary Gold Recovery Ghana Limited (\"GRG\"), has extended its\nagreement with Anglogold Ashanti ('Anglogold') to acquire stockpiles\nof fine carbon on an open-ended basis. Additionally an agreement has\nbeen made with other parties to purchase three large surface\nstockpiles totalling 37,000 tonnes of material estimated to contain\nup to 7,465 oz of gold based on assays of representative samples.\nOperations at the plant are progressing well with the carbon in leach\ncircuit (\"CIL\") processing surface material at full capacity and new\nequipment has been purchased to reduce costs and improve the\nefficiency of material handling.\n \nGoldplat CEO Demetri Manolis said, \"We have made excellent progress\nwith the development of our gold recovery operation in Ghana and\nsecured a significant supply of materials to process in the future.\nThe success of our recovery businesses in South Africa and Ghana are\nkey to our strategy of creating a mid-tier mining-house focused on\ngold production. With revenues increasing at both recovery\noperations, we are ideally placed to advance our gold production\nproject in Kenya and explore new acquisition opportunities throughout\nAfrica.\"\n \nRaw Materials\n \nThe Company has extended its on-going agreement with Anglogold, which\nwas due to expire at the end of April 2008, for the recovery of gold\nfrom fine carbon materials and mill liners from the mining process on\nan open-ended basis. A 30 day notice period has been incorporated\ninto the contract. In addition, GRG has signed an agreement with\nanother party to purchase a further three large surface stockpiles\nproviding approximately an extra 37,000 tonnes of material estimated\nto contain up to 7,716 oz of gold based on assays of representative\nsamples. GRG now has 89,000 tonnes of artisanal tailings stockpiled\nestimated to contain up to 35,365 oz, based on representative samples\nof gold, which exceeds nine years of current production capability.\n \nIn addition, the sup...