REG - Goldplat plc - Investing further in Local Beneficiation in Ghana

GoldplatAnnouncement

17/06/2024 11:30

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RNS Number : 7182S  Goldplat plc  17 June 2024

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:

 

 Werner Klingenberg                                   Goldplat plc                                     Tel: +27 (0) 82 051 1071

                                                      (CEO)

 Colin Aaronson / Samantha Harrison / Ciara Donnelly  Grant Thornton UK LLP                            Tel: +44 (0) 20 7383 5100

                                                      (Nominated Adviser)
 James Bavister / Andrew de Andrade                   WH Ireland Limited                               Tel: +44 (0) 207 220 1666

                                                      (Broker)

 Tim Thompson / Mark Edwards / Fergus Mellon          Flagstaff Strategic and Investor Communications  Tel: +44 (0) 207 129 1474

                                                                                                       goldplat@flagstaffcomms.com

 

 

 

 

 

 

 

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