LONDON (Alliance News) - Goldplat PLC Friday said it has installed a new shotblast facility at its operations in Ghana, brining in a new source of revenue for the company, whilst also installing a weighbridge at its South African operations to make operating cost savings.
Goldplat's two major assets are gold recovery operations, processing by-products from mining operations conducted by nearby miners, including the likes of AngloGold and Goldfields in South Africa. The operation in Ghana is looking to replicate the South African operation.
In Ghana, the company said it has installed a shotblast facility which has also been commissioned. Shot blasting is a method used to clean, strengthen and polish metals, and Goldplat said it will be a new activity for the operation, bringing in a new revenue stream.
Goldplat did not provide any guidance on the impact the new shot blasting operation would yield.
It has also installed a weighbridge at its South African gold recovery operation that should lead to "modest operating cost savings," it said.
A weighbridge tracks the amount of material moving in and out of the operation, making production more accurate. Vehicles carrying material drive onto a weighbridge, allowing the company to obtain a precise measurement of material.
Goldplat shares were trading down 3.4% to 2.78 pence per share on Friday morning.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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GoldPlat (GDP)