GoldPlat Regulatory News (GDP)

6 Sep 2007 12:30

Goldplat plc06 September 2007 Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration 6 September 2007 Goldplat plc ('Goldplat' or 'the Company') Progress Report on Ghana Operations The directors of Goldplat plc are pleased to announce that further progress hasbeen made towards bringing the new recovery plant in Ghana, operated by thewholly owned subsidiary Gold Recovery Ghana Limited ("GRG"), into fullproduction. Plant Construction Phase two of the construction of the new gold recovery plant at the free port ofTema, Ghana is progressing well. The ball mill, feed conveyor, gravityconcentrators, water reticulation, lighting to allow 24 hour operation and thetailings stock dam are now complete, giving GRG the facilities to processsurface materials with grades of 10-12 g/t gold that are amenable to gravityconcentration. At the end of August 2007, 1200 tonnes of this material,purchased from the small miners in Ghana, was on site and 100 tonnes had beenprocessed producing a gravity concentrate. Carbon in leach ("CIL") tanks are nowbeing installed to further improve the overall recovery of gold from the smallminers' surface material and remove surface materials from the environment. Inline with expectations, the plant is expected to be fully operational in thefirst half of 2008. A total of 11 Ghanaians are now employed at GRG under the leadership of anadministration officer, procurement officer and a production supervisor. Processing and Raw Materials Gold production at the mill has commenced and raw materials are being secured.Production from the liners and fine carbon has been consistent and is expectedto continue. Liners are now being collected from Golden Star's Wassa mine andCentral African Gold's Bibiani mine. Significant savings have been achieved through the negotiation of lower purchaseprices of raw material for the mill as well as transport costs. This has allowedaccess to lower grade stocks and/or stocks further away from Tema such as theObuasi region. Offers for a further 4000 tonnes have been accepted and transporters arepreparing to transport this material. Arrangements have been made to process ona 24 hour basis as soon as the new team has been trained. Following further site visits the directors believe that significant gold isavailable for purchase at substantial margins. As a result GRG will invest in afurnace to melt gold produced by the small miners before purchase as thisimproves the accuracy of the sample and assay. This gold will be exported to itsstrategic partner Rand Refinery Limited ('Rand'). Additionally, in South Africa the Company's partnership with Rand has beenfurther strengthened through an agreement to purchase carbon middlings, aby-product from Rand's spiral plant, which pre-treats the feed to its fluidizedbed carbon incinerator. This agreement highlights the synergies between the twocompanies and their ability to support each other when applicable. * * ENDS * * For further information visit www.goldplat.com or contact: Demetri Manolis, CEO Goldplat plc Tel: +27 11 423 1203James Joyce WH Ireland Limited Tel: 020 7220 1666Isabel Crossley St Brides Media & Finance Ltd Tel: 020 7242 4477 This information is provided by RNS The company news service from the London Stock Exchange