Goldplat plc : African Gold Recovery Operations Update

            Goldplat plc : African Gold Recovery Operations Update

    Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
                                  1 May 2013
                         Goldplat plc ('the Company')
                   African Gold Recovery Operations Update

Goldplat plc, the AIM listed gold producer in Africa, announces an  operations 
update on its two market leading gold recovery operations in South Africa  and 
Ghana, which  recover gold  from waste  products of  the primary  gold  mining 
industry, and an update on Golplat's gold recovery expansion plans in Africa.

Goldplat Recovery (Pty) Limited - South Africa ('GPL')

Goldplat's South African  gold recovery  operation, GPL  continues to  produce 
robust cashflows with particular emphasis on fine carbon processing which  has 
expanded significantly  over the  past six  months with  new supply  contracts 
recently signed with major South African gold producers.

The Company has also continued to  invest in new capital projects to  increase 
the gold recovery processing capacity  at GPL, reduce its stockpile  inventory 
and  in  turn   further  increase  the   South  African  recovery   operations 
profitability.  With  this  in  mind,  GPL  commissioned  the  new   tailings 
re-treatment carbon-in-leach ('CIL') plant on time and within budget in  March 
2013. This CIL will reprocess selected tailings which are currently on site at
GPL and that are  estimated to comprise five  years' worth of production.  In 
addition, a second  rotary kiln,  which will double  the available  production 
capacity at  GPL, and  will process  the significant  stockpile of  high-grade 
woodchips (estimated  to equate  to seven  years of  current capacity)  is  on 
budget with commissioning  planned for  end of July  2013. The  new kiln  has 
already been hoisted onto its foundations to allow for the installation of the
internal shell lining, ducting and other dust cleaning equipment.To see photos
of the new tailings re-treatment plant  and secondary rotary kiln, please  see 
the link at the end of this press release.

Furthermore, as  part of  the  continued succession  planning, the  Board  has 
appointed Hansie van Vreden, a  qualified Metallurgist, as General Manager  of 
GPL. Prior  to  joining  GPL,  Hansie  was  the  Production  Metallurgist  at 
AngloGold Ashanti's  Kopanang  Gold  Plant  in South  Africa.  The  Board  is 
delighted to welcome him to the  Goldplat team and believe with his  technical 
expertise and  experience  he  will  be  ideally  suited  to  drive  both  the 
efficiency and profitability of GPL going forward.

Gold Recovery Ghana Limited - Ghana ('GRG')

The Company's second gold recovery operation in Ghana, GRG, which enjoys a tax
free status until 2016, continues to be profitable not withstanding the margin
pressures that it has  sustained over the past  reporting period. To  mitigate 
these margin  pressures  Goldplat  has  instituted  tighter  controls  in  the 
procurement department and recently agreed  more favourable terms on its  toll 
treatment agreement with Endeavour Mining  Corporation's Nzema Mine in  Ghana, 
GRG's  biggest  profit  centre,  to  take  into  consideration  the   changing 
environment in the  gold industry. In  addition there has  been a  refractory 
failure in  one of  the  fluidised bed  incinerators,  which has  reduced  the 
throughput of that  section. Whilst  the incinerator  remains operational  the 
Company is looking  at how to  return throughput to  previous levels and  will 
update shareholders accordingly.

In order to increase the processing capacity of GRG and widen the range of the
products that can be treated at the  plant, the Company is planning to add  an 
additional spirals circuit to the Fine  Carbon Section which will improve  the 
quality of the feed to the incinerator; a thickener has been delivered to site
and will be erected in May 2013 to improve the gold recovery at the CIL plant;
and a rotary  kiln has been  purchased for  installation at GRG.  The kiln  is 
currently in South  Africa with installation  expected to be  complete in  the 
second half of FY14. 

Burkina Faso: Midas Gold SARL ('Midas')

In line with the Company's gold  recovery expansion plans in Africa,  Goldplat 
is developing a  third gold recovery  operation in Burkina  Faso, Midas.  The 
development of the new gold recovery  operation has been delayed for a  number 
of  reasons  including  changes  in   local  environmental  and  gold   export 
legislation and the shift in Midas' previously planned focus from an artisanal
tailings operation similar to  that at GRG, to  one focussing on the  recovery 
from products such as high  grade fine carbon and  mill liners from the  major 
gold producers. Midas has re-commissioned the Environmental Study for the site
in Dano which is expected to be completed  at the end of August 2013 with  all 
operating licences to be in place by the end of the year. The Midas operation
will initially  be  designed  to  treat high  grade  material  and  additional 
circuits to be added  over time when additional  recovery material is  sourced 
and secured. 

Goldplat CEO  Russell  Lamming commented  "Our  market leading  gold  recovery 
operations  in  South  Africa  and  Ghana  continue  to  perform  solidly  and 
profitably, taking advantage of the favourable gold production environment  in 
these regions and notwithstanding the recent fall in the gold price. With this
in mind, we  remain committed  to the continued  investment in  both of  these 
operations where we see the potential for continued strong revenue growth  and 
stable margins. In addition,  in order to fully  utilise our vast  knowledge 
base and take advantage of our  leading position in the gold recovery  sector, 
in Africa  we look  forward  to starting  the  developing our  third  recovery 
operation by the  end of 2013  adding a further  cash generative operation  to 
Goldplat's portfolio of assets in Africa."

                                 * * ENDS * *

For further information visit or contact:

Russell Lamming, CEO            Goldplat plc               Tel: +44 (0) 781
                                                           0870 587
Ewan Leggat/Katy Birkin         SP Angel Corporate Finance Tel: +44 (0) 20
                                LLP                        3463 2260
Felicity Edwards/ Charlotte    St Brides Media & Finance  Tel: +44 (0)20 7236
Heap                            Ltd                        1177

Goldplat plc, is an  AIM-listed profitable, debt free  gold producer and  mine 
development company focused  in Africa, which  has a strong  cash position  of 
GBP1.95 million as at 31 Dec 2012. The Company has a solid portfolio of assets
including two  gold  recovery operations  in  South Africa  and  Ghana,  which 
recover precious  metal  from  by-products  of  the  mining  process  such  as 
woodchips, fine carbon  and waste  grease. For  the FY  2012 these  operations 
produced circa 31,354 ounces of gold. Goldplat also has a producing gold  mine 
in Kenya and  two brownfield gold  development projects in  Ghana and  Burkina 

Pictures of new CIL plant and rotary kiln at GRL


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Source: Goldplat plc via Thomson Reuters ONE
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