News blog

Goldplat

• BY: Andrew Hore |
• POSTED: 21/07/2008 |
• COMMENTS: Add yours

A positive trading statement helped Goldplat shares recover.

The shares jumped 2.875p to 11.5p, which puts a value of £12.9m on the business.

Goldplat’s recovers gold and precious metals from processing mine waste and it is diversifying into gold mining. Both of the company’s gold recovery plants are exceeding expectations and Goldplat is on course to start producing gold in Kenya before the end of 2008.

The South African recovery plant is improving its margins through cost cutting. The company is talking to more potential suppliers for the plant. The newer plant in Ghana is running at full capacity and has stocks of tailings equivalent to nine years current production capacity.

Goldplat owns 50% of the Lolgorien gold project in Kenya. More than 350 tonnes of ore has already been stockpiled prior to bulk sampling. That will cost $200,000. There will be a further $500,000 of investment to bring the plant at the site into production.

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