First day of Dealings on AIM

Goldplat plc
26 July 2006



     Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration

26 July 2006

           Goldplat plc ('Goldplat' or 'the Group') Admission to AIM


Overview

  • Goldplat is an established producer of gold and platinum group metals
    ('PGM') recovered from by-products, such as woodchips, fine carbon and
    grease, of the mining process
  • Listed on AIM today having raised £1.5 million
  • Existing operation in South Africa with supply relationships with wide
    range of mining companies including Anglogold Ashanti, Goldfields, Harmony,
    Placer Dome, Impala Platinum, Lonmin and Anglo Platinum
  • Mining operations in South Africa are obliged to dispose of mining by
    products in an environmentally friendly manner - Goldplat's ongoing
    availability of raw materials is therefore not dependent on particular mines
    with finite resources
  • Plans on course to establish a complementary recovery facility in Ghana
  • Management team with many years' experience in the recovery of gold and
    PGMs as well as gold production from mines
  • Defined strategy to become a leading junior gold mining business
    supported by revenue generated from the gold and PGM recovery operations


Goldplat CEO Demetri Manolis: 'Our intention is to create a successful junior
mining house focussed on gold production assisted by revenue secured from the
Group's recovery business, which extracts gold and platinum group metals from
by-products of the mining process. Our main operation is in South Africa, which
has established relationships with the major mining houses, who all have a need
as well as an environmental obligation to dispose of their by-products. It is
the intention to expand our operations into Ghana where we will service the
expanding West Africa gold industry. We intend to utilise the cash flow
generated from these operations as well as our experience and networks within
the industry to identify gold deposits of 200,000-2,000,000 ounces of contained
gold in order to fulfil our strategy and build value for our shareholders.'

Goldplat plc has raised £1.5 million through a placing of 20,000,000 New
Ordinary shares at 7.5p per share giving the Group a market capitalisation of
circa £7.8 million and has listed on AIM today - 26 July 2006. The funds raised
will be used to complete the acquisition of Goldplat Recovery (Pty) Limited,
establish a complementary recovery operation in Ghana, evaluate gold mining
opportunities and for general working capital. HB Corporate is the Nominated
Adviser and Broker to the Company.

Through its wholly owned subsidiary, Goldplat Recovery (Pty) Limited ('Goldplat
Recovery'), the Group is an established producer of gold and platinum group
metals ('PGM') recovered from by-products of the mining process. Its plant in
South Africa is located near the centre of the East Rand Goldfield and raw
material feedstocks are sourced from many of the major South African mining
companies including Anglogold Ashanti, Goldfields, Harmony, DRD Gold, Placer
Dome, Bema Gold, Simmer and Jack, Impala Platinum, Lonmin and Anglo Platinum.

The safe disposal of mining by-products to Goldplat Recovery fulfils an
important aspect of the mines' environmental management programmes as well as
providing an additional income stream. The Directors believe that Goldplat
Recovery is the leading operator in its field in South Africa.

Strategy

The Directors intend to make a number of improvements to the existing plant,
which will enable Goldplat Recovery to be competitive in the higher grade
section of the market.

The Group also plans to expand its operations to process by-products from gold
mines in West Africa and an initial contract has already been secured with
Anglogold Ashanti. Production of gold is expected to commence towards the end of
2006 at a plant to be constructed in the Free Zone Port of Tema in Ghana, the
second largest gold-producing country in Africa. The environmental permits
required to secure the site have been obtained. Operating costs in Ghana are
expected to be considerably lower than those at the existing plant and the new
plant will also process materials with a much higher gold content.

In tandem with the expansion of the recovery business, the Directors' strategy
is to take advantage of their considerable experience in the gold mining sector
to become a junior gold mining company in Africa. This will be achieved by
utilising the cash flows generated from the by-product processing operations to
identify and evaluate opportunities. Accordingly, the Board is currently
reviewing a number of opportunities and is in exploratory talks in relation to
projects in Ghana, Mozambique and Kenya.

Operations

Goldplat Recovery operates from a freehold site of 22 hectares near Benoni in
Gauteng, South Africa near the centre of the East Rand Goldfield. The site
houses the processing plant and raw material stockpiles. In addition, Goldplat
Recovery has surface rights over an adjacent site of 12 hectares where it
proposes to establish a tailings facility in 2007.

After testing to establish gold or PGM content, moisture content, recoverability
and size, Goldplat Recovery purchases the materials from the mine operator
(occasionally it will undertake a joint venture whereby the mine operator shares
in the resulting profits). In order to provide a high level of service to its
customers, Goldplat Recovery's policy is to purchase raw materials when they
become available. This also helps management to schedule production in an
efficient manner as well as making it more difficult for potential competitors
to enter the market.

Goldplat Recovery's extraction processes and multiple process lines enable it to
keep materials separate, which provides a high degree of flexibility when
proposing a solution for a particular type of material. The processes which are
employed include roasting in a rotary kiln, crushing, milling, thickening,
flotation, leaching, CIL, elution and smelting of bullion. Recently, a gravity
concentrator was installed in the low grade circuit and a second flotation
section has been erected in the underground line. It is intended to install a
fluidized bed furnace in the high grade circuit.

Production is scheduled to make the most efficient use of the materials taking
into account the ore grade and anticipated recovery factors. Raw materials are
blended and routed to the various plants in an effort to ensure that production
levels are reasonably consistent from month to month. In some cases, similar
material can be treated in different plants. The wide variety of materials
stockpiled means that the company can benefit from being able to blend materials
for more effective processing.

Precious metals are usually recovered from materials within a single process. In
some cases, there may be a second process which takes place many months
afterwards, for instance where the residue from processing very high grade
material is left to oxidize in a stock dam in order to enhance the overall
recovery rate. Such stock dams can contain substantial amounts of gold and PGM.

Goldplat Recovery's plant is designed to process a variety of material, such as
woodchips, fine carbon and waste grease. The final product for sale can either
be smelted gold bars, or gold or PGM concentrate.

Goldplat Recovery is also interested in the rehabilitation of mining areas
where, although mining operations have ceased, material has been left in the
area containing gold or PGM which is difficult to extract, and may have
environmental problems such as low level radioactivity.


Trading Record and commentary

                      Year ended 31 Year ended 30 Year ended 30 Period ended 31
                          June 2003     June 2004     June 2005        Mar 2006
                                 £             £             £               £
Continuing operations
Revenue                    120,767      2,935,958     3,743,475       2,593,197
Cost of sales              (76,258)     (962,759)   (2,868,093)     (2,358,775)
Gross profit                44,509      1,973,199       875,382         234,422
Administrative
expenses                         -      (683,727)     (242,165)       (262,801)
Operating
profit/(loss)               44,509      1,289,472       633,217        (28,379)
Operating
profit/(loss)
- Discontinued
operations                  24,121         22,259      (22,733)           1,347
Total
operating
profit/(loss)               68,630      1,311,731       610,484        (27,032)
Finance income               3,975         13,356        34,338           4,784
Finance expense            (41,146)      (38,234)      (11,313)        (14,652)
Net
profit/(loss)
before tax                  31,459      1,286,853       633,509        (36,900)
Tax                              -      (171,947)     (224,425)          9,671
Net
profit/(loss)
after tax                   31,459      1,114,906       409,084        (27,229)


The increase in revenue over the period reflects the commissioning of the PGM
flotation circuit during the year ended 30 June 2003 and the purchase of the
gold plant towards the end of the first quarter of the following year. The year
ended 30 June 2005, the first full year of operation of both plants under the
management of Goldplat Recovery, saw sales of gold and PGMs reach 10,900 ounces
and 3,851 ounces respectively. This reflected a combination of higher processing
throughputs offset by lower recoveries compared with the previous year. The
average revenue per ounce of gold showed a marginal increase to £229 (2004:
£224) whereas PGM prices weakened from £366 to £334. Total revenue from
continuing operations for the year ended 30 June 2005 increased by 27.5 per
cent. to £3.7m.

The results for the nine months ended 31 March 2006 were affected by a number of
factors which were either operational in nature or were the result of decisions
taken for the benefit of the year as a whole and the longterm efficiency of the
processing plant. These included investment in a gravity concentrator and two
flotation circuits in order to increase recovery rates from higher grade
material by up to 30 per cent. The company also took steps to increase its
burning capacity to improve recovery rates by making major repairs to the kiln
and installing seals. Furthermore, during the period two additional mills were
acquired to provide extra capacity at the low grade milling circuit and
flotation circuit and two sets of spirals were purchased to be used in
conjunction with the fluidized bed furnace.

Current trading and prospects

Following this period of investment in the first nine months of the year, the
management accounts of Goldplat Recovery for April and May 2006 indicate that
the unaudited profits for this two month period amounted to approximately
£65,000 before tax and after adjusting for costs associated with the AIM
flotation. The Directors consider that the operational outlook is now favourable
but believe that the full effect of the recovery in profitability will only be
evident in the Group's results for the year ending 30 June 2007.

Mining opportunities

The Directors are currently reviewing a number of gold mining opportunities
which they believe will add significant value to the Group and complement the
existing and proposed gold and PGM production plants in South Africa and Ghana.
The Group is currently in exploratory talks in relation to projects in Ghana,
Kenya and Mozambique. Typically the Directors will be seeking to acquire gold
deposits comprised of between 200,000 and 2m ounces of contained gold.

Directors

Brian Moritz, aged 70, Non-executive Chairman

Brian is a chartered accountant and the former Senior Partner of the London
office of Grant Thornton, one of the leading international accounting firms. He
is currently chairman or director of a number of junior mining and exploration
companies, the majority of which operate in Africa. He also specialises in
advising companies, mainly in the area of flotation. In his former role at Grant
Thornton, he was registered by the London Stock Exchange as a nominated adviser
qualified executive for companies seeking admission to the AIM Market and a
Listed Company sponsor.

Demetri Manolis, aged 49, Chief Executive

Demetri was born in Cyprus and gained his mining and metallurgy degree in 1981
at the Technical University of Athens. He worked in chrome and bauxites mines in
Cyprus and Greece until 1983 when he emigrated to South Africa becoming a South
African citizen. In 1986, he obtained his Certificate of Competency for Mine
Managers. Between 1989 and 1992, he was variously General Manager and Managing
Director of Consolidated Modderfontein Mines Limited, a goldmining company
listed on the Johannesburg Stock Exchange. Between 1992 and 2000, he was
Managing Director of Gravelotte Mines Limited, a privately owned underground
gold mining company. Here, he and his team grew sales from ZAR 1.6m in 1992 to
ZAR 45.4m reaching a peak net profit of ZAR 10.1m in 1999. Demetri became
Managing Director of Goldplat Recovery in July 2000 and together with Ian
Visagie, he took over management control of Goldplat Recovery in November 2000
and its rapid increase in profitability since then has been under his
leadership.

Ian Visagie, aged 46, Finance Director

Ian is a South African citizen. He trained as a Chartered Accountant with KPMG
in its Pretoria office. Having gained post qualifying experience with KPMG he
moved into a mining environment in 1990 when he joined Consolidated
Modderfontein Mines Limited as financial manager where he first worked with
Demetri Manolis. In 1992, he joined Gravelotte Mines Limited as financial
manager. He joined Goldplat Recovery in March 1997 as financial director. With
Demetri Manolis, he took over management control of Goldplat Recovery in
November 2000.

John Woolgar, aged 66, Non-executive Director

A former stockbroker, John has 35 years' substantial and diverse City
experience, principally involving private investors in smaller companies. As a
former corporate adviser, he raised funds for over 30 companies by way of
Official List and Unlisted Securities Market flotations, Business Expansion
Scheme and Enterprise Investment Scheme private placings. He conceived the idea
of Web Shareshop (Holdings) Plc as a cost effective method of attracting large
numbers of private investors into new issues and as a delivery system for
private funds into placings. More recently (in 2004) he co-founded Zari
Resources plc (now Genesis Petroleum Corporation plc) as an AIM-listed
investment company and oversaw its reverse takeover of Genesis Petroleum
Corporation Limited. Similarly (in 2005) he co-founded Zareba plc (now Quadrise
Fuels International plc) and oversaw its reverse takeover of Quadrise Fuels
International Limited.

Following Admission, it is the Directors' intention to appoint an additional
independent non-executive Director.


                                  * * ENDS * *


Contacts:
Demetri Manolis Goldplat plc                           Tel: [phone]
                                                       Mob: [phone]
Ian Visagie Goldplat plc                               Tel: [phone]
Brian Moritz Goldplat plc                              Tel: [phone]
Hugo de Salis St Brides Media & Finance Ltd            Tel: [phone]
Luke Cairns/ Edward Hutton HB Corporate                Tel: [phone]



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