Business
Ghana Update
Ghana Update.
About this update from Goldplat Plc
[{"type":"text","content":"\n \n\n\n\n\n Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining &\n Exploration\n11 January 2007\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 the its wholly\nowned subsidiary, Gold Recovery Ghana Limited (\"GRG\"), is now in full\nproduction. In addition, further surface stockpiles in Ghana have\nbeen purchased and the Company's client base has been strengthened.\n\nPlant Construction\n\nThe construction of the carbon in leach circuit (\"CIL\") section of\nthe plant was completed in December 2007 as planned and the plant is\nnow in full production. This integrated gravity and CIL plant will\nenable the Company to maximise the gold recovery from the surface\nmaterial in one pass. This will have a significant impact on costs\nand therefore on the profitability of GRG.\n\nRaw Materials\n\nAn agreement was reached for the purchase of a further two large\nsurface stockpiles in the Dunkwa area at prices below what GRG had\npreviously been paying. This provides an approximately 37,000\nadditional tonnes of material estimated to contain 21,373 oz of gold,\nbased on assays of representative samples. GRG's total stocks in\nGhana are approximately 52,000 tonnes of materials estimated to\ncontain 30,178 oz of gold (based on representative samples), which\nnow exceed five years of production.\n\nA further three large surface stockpiles estimated to contain\napproximately 30,000 tonnes of material have been identified and\nevaluated. GRG is currently negotiating the purchase price for these\nmaterials and also continues to evaluate other stockpiles that are\nbeing offered. In addition, the supply of mill liners and fine carbon\ncontinues to be strong.\n\nProcessing\n\nGRG is now processing the surface material through the gravity\nconcentration circuit and the cyanide CIL circuit on a 24-hour, three\nshift, and seven days per week operation.\n\nSmelting of Gold Concentrates\n\nThe installation of the smelter has been completed, which will enable\nGRG to take advantage of a new business opportunity - the smelting of\ngold concentrates produced by third parties. Once the smelter is\noperational, GRG will smelt the concentrates and export the bullion\nto Rand Refinery in South A...