Operational Update: Increased Elution Capacity

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
18 November 2015
Goldplat plc ('Goldplat' or 'the Company')
Operational Update: Increased Elution Capacity

Goldplat plc, the AIM listed African gold producer, is pleased to announce that the first of the 4 tonne Elution Columns acquired from DRD Gold  has been successfully commissioned at Goldplat Recovery Pty Limited ('GPL') .

The completion of this project, on schedule, is an important milestone in Goldplat's turnaround strategy and will enable the Company to clear the remainder of the backlog gold inventory, improve the cash position, and provide capacity for increased future production.

Decisions remain to be taken as to the timing and location of the installation of the remaining two 4-tonne elution columns also purchased from DRD Gold, with one likely to be moved to the Company's gold recovery operation in Ghana during 2016. 

Gerard Kisbey-Green, CEO of Goldplat plc commented: "The increase in our elution capacity to an average daily throughput rate of 8 tonnes per day supports Goldplat's strategy to capture more of the gold recovery value chain in-house and completes another significant capital project.  I am again proud of the team for the good work done and look forward to tracking the success of this increased elution capacity as we look to increase gold production and revenues for the Company."

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Goldplat plc, is an AIM-listed gold recovery services 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.