Business
Gold Production Business' in South Africa and G...
Gold Production Business' in South Africa and G....
About this update from Goldplat Plc
[{"type":"text","content":"\n \n\n\n\n\n Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration\n 23 August 2011\n Goldplat plc ('Goldplat' or 'the Company')\n Gold Production Business' in South Africa and Ghana Continue to Expand\n\nGoldplat plc, the AIM quoted gold producer, is pleased to announce that it has\nsigned a Letter of Intent ('LOI') with DRD Gold SA ('DRD Gold'), a mid-tier gold\nproducer, securing further feedstock for the Company's South African operation,\nGoldplat Recovery (Pty) Ltd ('Goldplat Recovery'). The agreement enhances the\nCompany's relationships with gold miners in South Africa, (current clients\ninclude AngloGold Ashanti, Goldfields, Harmony, and other smaller producers),\nand provides additional feedstock for its expanding recovery operation.\n\nUnder the terms of the LOI, Goldplat Recovery will initially undertake analysis\nof all of surface reserves from DRD Gold's East Rand Proprietary Mines (ERPM)\noperation, including old shaft areas, railway lines and the gold plant itself,\nfollowing which contracts will be signed based on the volumes, grades and\nrecovery for the viable reserves established.\n\nIn Ghana, Goldplat's second gold recovery business Gold Recovery Ghana Limited\n('GRG') is making solid progress in the expansion of the business and processing\noperation. The Company is currently in discussions with West African mining\ncompanies in Mali and Burkina Faso regarding the acquisition of further\nprocessing by-products for gold recovery. In light of this, Goldplat is set to\norder an additional furnace to be installed by Q1 2012 to enable the Company to\nincrease GRG's gold processing capacity, which will be funded by internal cash\nflow.  The Company will update the market on these developments in due course.\n\nGoldplat's CEO Demetri Manolis said, \"We continue to expand our gold recovery\nbusiness' and build relationships within our core market areas. Gold production\nfor the year to 30 June 2010 was 21,461 ounces and we believe that with\nadditional contracts we will continue to build on our performance and further\nincrease production. We look forward to publishing our final results in\nSeptember 2011 which will highlight the strong growth and in turn profitably of\nthe Company.\"\n\n * * ENDS * *\n\nFor further information visit www.goldplat.com or...