(GDP) Goldplat

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
30 January 2012
Goldplat plc ('Goldplat' or 'the Company')
Gold Recovery Operations Increasing Production

Goldplat plc, the AIM quoted gold producer, is pleased to provide a positive operations update from its two gold recovery operations in South Africa and Ghana.

Overview

• Gold recovery operations have performed well in H1 2011 - the Company expects to report a significant increase in operating profit compared to six months ended 2011 

• South African gold recovery is performing strongly and in line with management's expectations: 

  • Continuing to improve the plant's operational efficiency and profitability and reviewing new business opportunities 

  • High grade mill project, built to increase milling capacity, has been commissioned and is performing solidly 

  • Memorandum of Understanding submitted to a mid-tier gold producer in South Africa to allow Goldplat to mine one of its shafts on a net smelter return basis 

  • Letter of Intent has been accepted by DRD in South Africa to secure further feedstock from its East Rand Proprietary Mines operation 

  • Accessing a longer term project to reprocess tailings from the Company's Goldplat Recovery operation - potential to significantly impact profitability  

• Ghana gold recovery operation is performing ahead of management's expectations 

  • Marked increase in by-products received for processing through existing contracts with Goldfield Limited, AngloGold Ashanti Limited and Golden Star Resources Limited 

  • Toll processing operation with Adamus Resources performing well - transport costs reduced  

  • Advanced negotiations with other mining companies regarding acquiring further processing by-products for gold recovery from Burkina Faso and Mali which if completed would positively impact profitability  

• New gold recovery opportunities - currently investigating the feasibility of setting up a processing unit in Burkina Faso and reviewing potential plant designs and equipment. 

• Total gold production for FY 2012 expected to exceed FY 2011 gold production of 28,185 oz 

Goldplat CEO Demetri Manolis said, "We are a highly cash generative and profitable gold production company and I am delighted to report that our two gold recovery operations in South Africa and Ghana have performed strongly for the first half of the trading year and expect to see this trend continue for the second half of the year.  Additionally, with the commencement of gold production earlier this month at our first mining operation, Kilimapesa Gold in Kenya, we expect to significantly exceed last year's total gold production of 28,185 oz.  In turn we also have two brownfield high grade gold development projects in Burkina Faso and Ghana with resource upgrade and production potential.  With these developments in mind, I believe that Goldplat looks set for significant growth during the remainder of 2012 and beyond."

Goldplat Recovery (Pty) Ltd - South Africa ('Goldplat Recovery')

Goldplat's gold recovery operation in South Africa, which processes and recovers gold from by-products of the mining process, is performing strongly and in line with management's expectations for FY 2012.

In order to continue improving the plant's operational efficiency and profitability the Company has implemented additional plant equipment and reviewed a number of new business opportunities.

In this regard, the high grade mill project, built to increase milling capacity, has been commissioned and is performing well.  Additionally a new fluidised bed incinerator is currently being installed on site, which once commissioned will have a positive impact on the cash position of the Company.  This will increase Goldplat Recovery's ability to successfully bid for fine carbon contracts from other mining companies and will assist in reducing some of the Company's stocks of gold bearing material held at Goldplat Recovery.

In terms of new business opportunities, the procurement of new gold bearing materials from further gold mining companies in South Africa is on-going and our stocks of raw material remain stable.   The Company is currently in discussions with potential new clients regarding securing additional materials for processing.  Any contract secured will be announced in due course.  

A Memorandum of Understanding has also been submitted to a mid-tier gold producer in South Africa to allow Goldplat to mine one of its shafts on a net smelter return basis.  In addition, negotiations are on-going with a second mid-tier gold producer located in the Witwatersrand goldfields with a view to Goldplat mining one or more of its shallow shafts on a net smelter return basis.  

As previously reported, a Letter of Intent has been accepted by DRD Gold SA ('DRD'), a mid-tier gold producer in South Africa, to secure further feedstock from its East Rand Proprietary Mines operation.  Goldplat Recovery has undertaken exploration of all of its surface reserves including old shaft areas, railway lines and the gold plant itself and a proposal has been presented to DRD.

Goldplat is also accessing a longer term project to reprocess tailings from the Company's Goldplat Recovery operation.  The Company has significant reserves of coarse material that has been screened out of purchased material prior to processing.  Goldplat is investigating the crushing and screening of this material to provide a viable grade fine fraction that can be processed for gold recovery and the coarse fraction for sale.  A feasibility study is in progress with samples having been submitted to mining consultants SGS for evaluation. If the project is commissioned the Company believes it would have a significant impact on the profitability of Goldplat Recovery.

The Company will make an update to the market on these new business opportunities in due course.

Goldplat Recovery Ghana Limited ('GRG')

In terms of gold recovery and profitability the GRG gold recovery operation has performed beyond management's expectations in the first six months of the year and the Board expect to see this trend continue for the second half of FY 2012.

The Company is pleased to report that there has been a marked increase in the by-products received through existing contracts with Goldfield Limited, AngloGold Ashanti Limited and Golden Star Resources Limited.  With this in mind, GRG has placed an order for a second fluidised bed incinerator which will be delivered in Q1 2012.

The toll processing operation GRG has in place with Adamus Resources ('Adamus'), which processes by-products off site, is performing well with transport costs being reduced by sourcing materials closer to Adamus' processing plant.  A second receiving area at the Adamus plant has been constructed which will enable the Company to increase the volumes of materials delivered each month for processing.  Further testwork is being completed by Adamus on GRG's tailings situated on site at GRG's operations in Tema to establish if these tailings can be successfully processed.  If viable, this will provide extra revenue opportunities and free capacity for further stockpiles of raw materials to be held at Tema.

Goldplat is still in advanced negotiations with other mining companies regarding acquiring further processing by-products for gold recovery from Burkina Faso and Mali.  A number of proposals have been submitted to these various operations and we will update on progress in due course.

New Recovery Opportunities

Research in Burkina Faso has also indicated that there are significant volumes of tailings at attractive grades available for processing.  The Company is currently investigating the feasibility of setting up a processing unit in Burkina Faso and reviewing potential plant designs and equipment.

* * ENDS * *

For further information visit www.goldplat.com or contact:

Notes:

Goldplat plc, which has a market cap of circa £23 million, is an AIM-listed profitable, debt free gold producer and mine development company focussed in Africa, which has a strong cash position of in excess of £4.59 million as at 31 December 2011.  The Company has a solid portfolio of assets including two gold recovery operations in South Africa and Ghana, which recover precious metal from by-products of the mining process such as woodchips, fine carbon and waste grease.  For the FY 2011 these operations produced circa 28,000 ounces of gold.  Goldplat also has a producing gold mine in Kenya and two brownfield gold development projects in Ghana and Burkina Faso with near term resource upgrade potential from which it aims to delineate in excess of 1 million ounces of resources by H1 2012.  In line with this, the Company has implemented defined exploration and development programmes across each of its projects with a view to developing multiple profitable mining operations in the near to medium term.  

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
27 January 2012
Goldplat plc (the "Company")
Exercise of Options and Issue of Equity

Goldplat announces that 750,000 new Ordinary Shares of 1p each ('New Ordinary Shares) were today allotted pursuant to the exercise of the same number of options at an exercise price of 7.5p.

Application has been made to the London Stock Exchange for the New Ordinary Shares to be admitted to trading on AIM. Admission of the New Ordinary Shares to trading on AIM is expected to occur on 2 February 2012.

Following the issue of the New Ordinary Shares, the Company's issued share capital will consist of 167,870,000 ordinary shares of 1p. The total number of voting shares in issue immediately following Admission will be 167,870,000. The Company holds no ordinary shares in treasury.

**ENDS**

For further information visit http://www.goldplat.com or contact:

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
26 January 2012
Goldplat plc ('Goldplat' or 'the Company')
Second Gold Pour at Kenyan Gold Project

Goldplat plc, the AIM quoted gold producer, is pleased to announce that it has poured its second gold from its wholly owned Kilimapesa Gold Mine in Kenya ('Kilimapesa'), following the successful commissioning of the Elution Plant.  The second smelt produced an 11.4 kg (366 ounces) gold doré bar (approximately 75-77% purity with the balance comprising circa 20% silver plus unspecified impurities), which has now been sold to Rand Refinery Limited in South Africa.  The Company will continue to smelt and produce gold from existing stockpiles at Kilimapesa on a weekly basis and once all stockpiles have been depleted, smelting and gold production from the mine will occur on an ongoing monthly basis.

Goldplat CEO Demetri Manolis said, "We are delighted to report on our second gold pour from our Kilimapesa mining project in Kenya.  Smelting and production of gold from our existing stockpiles of loaded carbon is continuing in line with management's expectations with gold sales positively impacting our bottom line in FY2012."  

* * ENDS * *

For further information visit www.goldplat.com or contact:

Notes

Goldplat plc, which has a market cap of circa £19 million, is an AIM-listed profitable, debt free gold producer and mine development company focussed in Africa, which has a strong cash position of in excess of £4.59 million as at 31 December 2011.  The Company has a solid portfolio of assets including two gold recovery operations in South Africa and Ghana, which recover precious metal from by-products of the mining process such as woodchips, fine carbon and waste grease.  For the FY 2011 these operations produced circa 28,000 ounces of gold.  Goldplat also has a producing gold mine in Kenya and two brownfield gold development projects in Ghana and Burkina Faso with near term resource upgrade potential from which it aims to delineate in excess of 1 million ounces of resources by H1 2012.  In line with this, the Company has implemented defined exploration and development programmes across each of its projects with a view to developing multiple profitable mining operations in the near to medium term.  

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
  23 January 2012
Goldplat plc ('Goldplat' or 'the Company')
Progress Update on Gold Production and Exploration Projects

Goldplat plc, the AIM quoted gold producer, is pleased to provide a positive operations update on its three main gold projects: the Kilimapesa Gold operating mine in Kenya ('Kilimapesa'); the Nyieme gold development project in Burkina Faso; and the Anumso gold exploration project in Ghana (formerly the Banka Gold Project) and its two gold recovery operations in South Africa and Ghana.

Overview

• Excellent progress being maintained on all fronts - increasing revenue through improving gold recovery production and first gold mining operations commencing January 2012 at Kilimpaesa  

• Milestone first gold sales achieved at Kilimapesa with 399 ounces sold on 13 January 2012 

• Plant capacity will initially increase to 3,000 tonnes per month with further expansions planned as ore resources expand  

• Kilimapesa expected to raise production levels towards 10,000 ounces of gold by the end of 2012  

• Assay results are encouraging highlighting the economic potential of two additional areas at Kilimapesa  

• Drilling programme underway in tandem with ongoing underground development designed to expand Kilimapesa's ore resource to in excess of 500,000 ounces of gold  

• 4,800 metres core drilling exploration programme commenced at Anumso in Ghana - continuation of mineralised Tarkwaian conglomerates confirmed 

• Planning work programme at Nyieme to target additional areas of economic potential following completion of drilling programme in 2011 

• AIM to expand Goldplat's total resource base towards 1 million ounces by H1 2012 through exploration across portfolio 

• Goldplat's gold recovery operation in South Africa is performing strongly and in line with management's expectations  

• GRG gold recovery operation has performed above management's expectations for gold recovery and profitability in H1 2012 - trend set to continue for the second half of FY 2012  

Goldplat CEO Demetri Manolis said, "With the commencement of production of mining at Kilimapesa and gold recovery performing strongly in South Africa and ahead of management's expectations in Ghana, we expect to easily exceed our production of 28,185 ounces gold last year.  We are a highly cash generative and profitable business with three production/revenue streams and a cash balance in excess of £4.59 million as at 31 December 2011.  This is against a current market cap of circa £19 million.

"We were delighted to report our first gold pour and sales at our high grade quartz vein project at Kilimapesa earlier this month, and we look forward to continuing underground and surface development to bring the resource to in excess of circa 500,000 ounces of gold.  Additionally, we are making excellent progress at our two other highly prospective gold projects: Anumso in Ghana and Nyieme in Burkina Faso.  All three gold mining projects are being developed through the implementation of extensive drilling programmes with the aim of delineating in excess of 1 million ounces of resources this year.

"Goldplat is in a fantastic position to build its value.  With three gold producing operations, a strong treasury, and two additional high grade projects being advanced towards production, we look forward to a highly exciting 2012."  

Kenya - Kilimapesa Gold Ltd

Gold Sales
Following the issuance of the 21 year Mining Lease in November 2011, the Company moved quickly to complete the construction and commissioning of the elution plant, which enabled the export and sale of gold bullion.  The first gold sale of 399 ounces took place on 13 January 2012.  The Minister of Environment and Natural Resources, Honourable Michuki, will officially open the mine in due course.  

Exploration
The exploration programmes at Vim/Rutha and Red Ray target areas, which are 2km south of Kilimapesa Hill where the maiden resource was defined, have been completed with 21 holes drilled for a total of 921 metres and 13 holes drilled for a total of 650 metres at each target respectively.  Assay results to date have been very encouraging highlighting the economic potential of these new areas.  A full listing of the results is expected to be announced in Q1 2012.

An additional five-hole drilling programme has commenced at the Kilimapesa Hill target with 170 metres drilled to date.  This programme is designed to expand the Kilimapesa Hill ore resource on to 650 metres on strike and to a depth of 140 metres beyond the current underground development.  

Underground Development
Underground development has continued to progress well with an exposed and sampled combined strike length over the two main auriferous quartz veins of 425 metres.  Selected rock chip sampling stretch values include 13.55 g/t over an average width of 1.27 metres across 54 metres of strike and 8.65 g/t over an average width of 1.50 metres over a strike of 57 metres.  This database is currently being updated for a further ore resource statement to be released in March/April 2012.

Work has commenced on the new Adit D, which lies 60 metres vertically below Adit B, with the portal now under construction.  The ensuing development will contribute significantly to the expansion of the ore resource at Kilimapesa Hill as well as allow for much increased mining tonnages.

Plant
Planning has started on expanding the plant in preparation for full scale mining operations with a targeted annual production of 10,000 ounces per annum within the mines first year of operation.  It is envisaged that the plant capacity will initially increase to 3,000 tonnes per month with further expansions planned as ore resources expand.

Kilimapesa Gold has purchased a 500 Kva generator to act as a power supply back-up in the case of grid power outages.

Ghana - Anumso Gold Exploration (previously known as the Banka Gold Project)

The 29 sq km Anumso Gold Exploration licence is located in the highly prospective Amansie East and Asante Akim South Districts of the Ashanti Region of the Republic of Ghana, 10km southwest of Newmont's 14 million oz Akyem gold deposit.

A 4,800 metres core drilling exploration programme commenced on 22 November 2011.  To date 19 holes have been completed for a total of 2,900 metres.  The continuation of mineralised Tarkwaian conglomerates has been confirmed, underlining the prospectivity of the project.

Burkina Faso - Nyieme Licence

The 246sq km Nyieme project is located in the prospective Birimian Greenstone Belt in southern Burkina Faso, West Africa.  Following on from the completion of the 3,100 meter drilling programmes in 2011 which defined a resource of 1,395,000 tonnes at 2.06g/t gold for 92,589 ounces, Goldplat has reviewed the available geological information and is constructing a work programme to target additional areas of economic potential.  Further work planned is as follows:

• Continue to drill test the northerly extension of the Nyieme Village Zone 

• Drill test the unexplored gap between the Nyieme Village Zone and the A1 Zone 1.5 km to the south 

• Drill test the four zones at the A1 Zone, which remain open to the north and south  

• Drill test the depth extensions of the zones at A1 Zone 

• Investigate the D Zone for a possible new zone 

• Drill artisanal workings located 3 km to the south of the A1 Zone 

• Conduct further exploration on the extension of considerable artisanal workings immediately south of the Nyieme Licence 

• Investigate other targets that were highlighted after the initial soil sampling programme conducted in early 2011 

See map link at the bottom of this news release outlining Nyieme project area and targets.

The Company is also in discussions with other licence holders within the Nyieme project vicinity regarding joint venture and consolidation opportunities to increase the Company's geographic footprint in the country.  

Goldplat Recovery Operations - South Africa and Ghana

Goldplat's gold recovery operation in South Africa is performing strongly and in line with management's expectations.  In turn, Goldplat Recovery Ghana Limited ('GRG') has performed above management's expectations in the first six months of the year in terms of gold recovery and profitability, and the Board expect to see this trend continue for the second half of FY 2012 with gold production for FY2012 targeted to exceed FY2011 production of 9,995 oz of gold.

A full update outlining progress of the Company's two gold recovery operations will be made in due course.

* * ENDS * *

For further information visit www.goldplat.com or contact:

Notes:

Goldplat plc, which has a market cap of circa £19 million, is an AIM-listed profitable, debt free gold producer and mine development company focussed in Africa, which has a strong cash position of in excess of £4.59 million as at 31 December 2011.  The Company has a solid portfolio of assets including two gold recovery operations in South Africa and Ghana, which recover precious metal from by-products of the mining process such as woodchips, fine carbon and waste grease.  For the FY 2011 these operations produced circa 28,000 ounces of gold.  Goldplat also has a producing gold mine in Kenya and two brownfield gold development projects in Ghana and Burkina Faso with near term resource upgrade potential from which it aims to delineate in excess of 1 million ounces of resources by H1 2012.  In line with this, the Company has implemented defined exploration and development programmes across each of its projects with a view to developing multiple profitable mining operations in the near to medium term.