Goldplat
plc / Ticker: GDP / Index: AIM / Sector: Mining &
Exploration
17 June 2024
Goldplat
plc
('Goldplat', the 'Group' or 'the Company')
Commitment to Invest further
into Local Beneficiation in Ghana
Goldplat plc, (AIM: GDP) the AIM
listed Mining Services Group, with international gold recovery
operations located in South Africa and Ghana, servicing the African
and South American Mining Industry, is pleased to announce that it
has submitted a proposal to invest further into local beneficiation
of by-products in Ghana.
Gold Recovery Ghana Limited ("GRG"),
the wholly owned subsidiary of Goldplat Plc, was incorporated in
2005 and has operated from facilities situated in the Free Zone
Industrial area of Kpone in Tema, Ghana. During the last 16 years,
GRG has made a number of investments into plant to upgrade
by-products out of the gold mining industry into bullion and
concentrates for further processing.
GRG has submitted a proposal to the
Minerals Commission of Ghana to invest a further, circa GBP900,000
to upgrade our facilities in Tema. The decision to invest has been
driven by high shipping and refining costs and the Ghana
authorities' increased focus on local beneficiation. Through recent
engagement with the Ghana authorities, it has become clear that
their preference is for us to refine as much material to bullion as
possible in Country.
These upgrades should increase our
ability to upgrade and refine the by-products at our facilities in
Ghana, which should reduce shipping and external refining charges
and reduce working capital requirements in the future, thereby
reducing interest costs.
GRG intends to finance these capital
investments from its own resources over the next 12
months.
Werner Klingenberg, CEO of Goldplat
commented: We are delighted to be able to
increase our capability in Ghana to handle gold by-products from
the mining industry in Ghana, elsewhere in Africa and South
America. This supports our commitment to build a global hub for
processing of these types of material in Ghana.
For
further information visit www.goldplat.com, follow on twitter
@GoldplatGDP or contact:
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Werner Klingenberg
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Goldplat plc
(CEO)
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Tel: +27 (0) 82 051 1071
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Colin Aaronson / Samantha Harrison / Ciara Donnelly
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Grant Thornton UK LLP
(Nominated Adviser)
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Tel: +44 (0) 20 7383 5100
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James Bavister / Andrew de
Andrade
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WH Ireland Limited
(Broker)
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Tel: +44 (0) 207 220 1666
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Tim Thompson / Mark Edwards / Fergus
Mellon
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Flagstaff Strategic and Investor
Communications
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Tel: +44 (0) 207 129 1474
goldplat@flagstaffcomms.com
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