Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining &
Exploration
24 September 2009
Goldplat plc ('Goldplat' or 'the Company')
Kilimapesa Gold Acquisition - Kenya
Goldplat plc, the AIM listed gold producer, announces that it has
completed the purchase of the remaining 50% interest in Kilimapesa
Gold (Pty) Limited ('Kilimapesa Gold') for US$2.7 million, from
International Gold Exploration AB ('IGE'), through the Company's
wholly owned subsidiary Gold Mineral Resources Limited. Goldplat now
owns 100% of Kilimapesa Gold and its Lolgorien gold project, which
includes the operating Kilimapesa Hill gold mine and adjacent
exploration assets located in South Western Kenya within the
historically producing Migori Archaean Greenstone Belt.
.
The consideration for the acquisition is US$2.7 million, of which
US$1.2 million has been paid, and the balance payable in six monthly
amounts of US$250,000, commencing when Kilimapesa Gold's mining
licence is issued by the authorities in Kenya. The consideration
payable to IGE for the acquisition of Kilimapesa Gold will be met
from Goldplat's existing cash resources.
Goldplat expects to announce a JORC compliant resource at Kilimapesa
Gold in the near future. Further details on the Company's expansion
plans for Kilimapesa Gold will be announced in due course.
* * ENDS * *
For further information visit www.goldplat.com or contact:
Demetri Manolis, CEO Goldplat plc Tel: +27 (0) 11
423 1203
James Joyce WH Ireland Limited Tel: +44 (0) 20
7220 1666
David Porter WH Ireland Limited Tel: +44 (0) 20
7220 1666
Bill Sharp Alexander David Securities Tel: +44 (0)20
Limited 7448 9820
David Scott Alexander David Securities Tel: +44 (0)20
Limited 7448 9820
Felicity Edwards St Brides Media & Finance Ltd Tel: +44 (0)20
7236 1177
Isabel Crossley St Brides Media & Finance Ltd Tel: +44 (0)20
7236 1177
Notes
Goldplat plc is an AIM-listed gold producer with operations in
Africa. Its strategy is to consolidate its position as a gold
producer in Africa and build itself into a highly profitable mid-tier
gold company, leveraged through revenue generated from its gold
recovery businesses.
The Company has two recovery businesses based in South Africa and
Ghana, which, by safely disposing mining by-products, fulfil an
important aspect of the mines' environmental management programmes.
The South African plant 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 and other smaller producers. The Ghana
plant, located in the free port of Tema, provides access to raw
materials from mines in Mali, Guinea, Burkina Faso, Benin, Cote
D'Ivorie, Senegal, the DRC and Mauritania, as well as Ghana.
Goldplat's strategy is to build itself into a highly profitable
mid-tier gold producer, through the acquisition of known deposits
with targets of between 200,000 and one million contained ounces. To
this end, it is developing the Kilimapesa Gold Lolgorien project,
located in the historically producing Migori Archaean Greenstone Belt
in western Kenya. Kilimapesa Gold commenced initial production in
January 2009 and an aggressive exploration and development programme
has been implemented to define a JORC compliant resource at the
project.
Additionally the Company is currently evaluating gold recovery
operations in Tanzania and Zambia and also has joint venture
agreements with Black Economic Empowerment ('BEE') partners in place
to take advantage of mining opportunities in South Africa.
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