Pre-payment facility agreed with Auramet International

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
12 November 2015
Goldplat plc ('Goldplat' or 'the Company')
Pre-payment facility agreed with Auramet International

Goldplat plc, the AIM listed African gold producer, announces that its gold recovery operation in Ghana, Gold Recovery Ghana ("GRG") has received cash of USD1.4 million on 5 November 2015 in respect of the backlog material sold to Aurubis AG.  This receipt will enable GRG to make payments to two of Goldplat's major gold material suppliers in Ghana, which, in turn, will enable GRG to draw materials from those suppliers and accelerate expansion in Ghana.

To achieve this GRG entered into a pre-payment agreement with Auramet International LLC ("Auramet"), on 20 October 2015 (the "Pre-payment Agreement"). The effect of the Pre-payment Agreement is to accelerate receipt of funds due from Aurubis in December 2015 and January 2016. The Pre-payment Agreement provides for the payment of interest at three month Libor plus 5% on an annualised basis, so that the cost to the Group is expected to be approximately 1% of the amount received, or approximately $15,000.

GRG may avail itself of this facility in future, as and when required.

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Goldplat plc, is an AIM-listed gold recovery company with two market leading operations in South Africa and Ghana. The Company's strategy is focussed on utilising its cash flow generated from flagship gold recovery operations in Africa to self-fund sustainable growth and expansion of niche gold recovery business model. The Company also has a small gold mining and exploration portfolio in Kenya, Burkina Faso and Ghana and is evaluating various opportunities to create value or monetise these assets.