Placing

5 Apr 2007 07:01

Goldplat plc05 April 2007 Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration 5th April 2007 Goldplat plc ('Goldplat' or 'the Company') Placing of new ordinary shares Goldplat plc announces that it has placed 5,000,000 new ordinary shares ("theplacing shares") of 1p at 10p per share to raise £500,000. These funds will beused in connection with the evaluation and acquisition of new mining ventures,primarily gold mining projects, and for working capital. Following the placing, Sirius Resource Fund 1 will hold 4.58% of the totalissued share capital, that being 109,000,000 shares. Application has been made for the placing shares to be admitted to AIM, withadmission expected to occur on 13 April 2007. Commenting on the placing, Goldplat's Chairman, Brian Moritz, said, "We have anexciting development plan, which is backed by a cash generative business. Theplacing at a 10% premium to market price endorses and shows great support andbelief in the Company's strategy and the commitment of Demetri Manolis, our CEO,to establishing Goldplat as a junior mining house." **ENDS** For further information visit www.goldplat.com or contact: Brian Moritz, Goldplat Chairman Tel: +44 (0)7976 994300Demetri Manolis, Goldplat CEO Tel: +27 11 423 1203 Mobile: +27 82 454 7392Luke Cairns, HB Corporate Tel: +44 (0)20 7510 8600Isabel Crossley, St Brides Media and Finance Limited Tel: +44 (0)20 7242 4477 Notes: Goldplat, which listed on AIM on 26 July 2006, is a market leader in therecovery of gold and platinum group metals from metallurgically-challengingmaterials consisting primarily of by-products from gold and platinum mines inSouth Africa. Significant stockpiles of gold bearing materials exist on mine sites, which havebeen enriched rather than depleted during mining, but which cannot be profitablyprocessed by individual mines. Mines need an economic method to dispose of suchmaterial while adhering to environmental obligations. By providing a channel formines to generate revenue from waste material and save on disposal cost meansthat a recovery operation is profitable given the Company's economies of scale. The management team has vast experience in mining and the extraction of preciousmetals, and has established strong relationships with many of the major miningcompanies, including Anglogold Ashanti, Goldfields, Harmony and Bema for goldand Impala Platinum, Lonmin and Angloplats on the PGM side. Goldplat is now replicating the South African recovery business model in Ghana.With the revenues generated from both plants, the Company aims to identify andacquire further gold mining assets and to become a significant gold producer inAfrica. This information is provided by RNS The company news service from the London Stock Exchange