Business
New South African Joint Venture Formed
New South African Joint Venture Formed.
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\n4 February 2008\n Goldplat plc ('Goldplat' or 'the Company')\n New South African Joint Venture Formed\n\nGoldplat plc, the AIM listed gold producer, has formed a new Joint\nVenture company to take advantage of potential acquisition\nopportunities in South Africa. The Joint Venture company has been\nformed in line with the country's Black Economic Empowerment ('BEE')\npolicy, with the Johannesburg Stock Exchange's AltX listed BEE backed\nfinancial services group Vunani Limited ('Vunani'), through\nGoldplat's wholly owned subsidiary, Gold Minerals Resources Limited\n('GMR').\n\nGMR and Vunani hold 74 per cent. and 26 per cent. of the share\ncapital of the Joint Venture company respectively. The Joint Venture\ncompany will seek to look at acquisition opportunities in South\nAfrica and provide a structure for the Company to acquire interests\nin South African mining assets that meet the requirements of the BEE\npolicy regarding the percentage of ownership to be retained by\neligible persons.\n\nGoldplat's CEO, Demetri Manolis said, \"To date, we have made great\nprogress in building an established gold recovery operation in South\nAfrica. With an aggressive growth strategy in place, we are now\nlooking to expand our portfolio to further enhance our asset base. In\nline with this, I am very excited to be joining forces with Vunani\nand I believe that together we are ideally placed to take advantage\nof a number of highly interesting mining opportunities within the\ncountry.\"\n\n * * ENDS * *\n\nFor further information visit www.goldplat.com or contact:\n\nDemetri Manolis, CEO Goldplat plc Tel: +27 11 423\n 1203\nJames Joyce WH Ireland Limited Tel: 020 7220\n 1666\nIsabel Crossley St Brides Media & Finance Tel: 020 7242\n Ltd 4477\n\n\nNotes\nGoldplat plc is an AIM-listed gold producer with operations in\nAfrica. Its strategy is to create a mid-tier mining house focused on\ngold production leveraged through revenue generated from its gold\nrecovery businesses.\n\nThe Company has two recovery business based in South African and\nGhana, which, by safely disposing of mining by-products, fulfill an\nimportant aspect of the mines' environmental management programmes.\nThe South African plant is located near the centre of the East Rand\nGoldfiel...