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Goldplat plc Completes Elution Plant in Ghana Ahead of Deadline

Goldplat Plc, (LON:GDP) the AIM quoted gold producer with international gold recovery operations based in South Africa and Ghana and a gold mine in Kenya, has today announced that its subsidiary Gold Recovery Ghana (‘GRG’) has completed the installation and commissioning of an elution plant and all associated ancillary equipment at its site in Tema, Ghana.

When GRG’s Ghanaian licence to purchase and deal in gold was renewed in December 2016, one of the requirements of the renewal was that an elution plant be installed and brought into production by 30 June 2018 (see announcement of 20 December 2016). In line with the announcement made on 30 January 2018, elutions are now ongoing and the first gold was poured during March 2018. An official opening of the plant will be scheduled as soon as the necessary arrangements can be made with The Ministry of Mines.

Having the infrastructure to elute and to smelt on-site in Ghana not only fulfils the requirements set out in the licence renewal but it makes economic sense for GRG, GDP and the local community, as with further beneficiation to gold Dore bars being carried out in-country, additional employment opportunities are created and cost savings are achieved for GRG. Furthermore, the addition of this infrastructure adds to the ability to expand the company’s recovery operations using GRG as a hub and is in line with GDP’s strategic growth objectives.

Gerard Kisbey-Green, CEO of Goldplat Plc commented: “I am very pleased to be able to report that Goldplat has completed this capital project three months ahead of the initial deadline and within our initial budget. Completing this project internally is yet another example of the benefits of having an experienced in-house engineering team. I would like to take this opportunity to congratulate the engineering teams as well as the GRG production teams on another job well done!”