Goldplat subsidiary Gold Recovery Ghana (GRG) has completed installation and commissioning of an elution plant and all associated ancillary equipment at its site in Tema, Ghana.
When GRG's Ghanaian licence to purchase and deal in gold was renewed in December 2016, one of the requirements of the renewal was that an elution plant be installed and brought into production by June 30, 2018.
Elutions are now ongoing and first gold was poured during March 2018. An official opening of the plant will be scheduled as soon as the necessary arrangements can be made with The Ministry of Mines.
Having the infrastructure to elute and to smelt on-site in Ghana not only fulfils the requirements set out in the licence renewal but it makes economic sense for GRG, Goldplat and the local community. With further beneficiation to gold Dore bars being carried out in-country, additional employment opportunities are created and cost savings are achieved for GRG.
Furthermore, the addition of this infrastructure adds to the ability to expand Goldplat's recovery operations using GRG as a hub and is in line with Goldplat's strategic growth objectives.
Goldplat's CEO Gerard Kisbey-Green said: "I am very pleased to be able to report that Goldplat has completed this capital project three months ahead of the initial deadline and within our initial budget.
"Completing this project internally is yet another example of the benefits of having an experienced in-house engineering team. I would like to take this opportunity to congratulate the engineering teams as well as the GRG production teams on another job well done."
Goldplat plc is an AIM quoted gold producer with two recovery operations in South Africa and Ghana and an operational gold mine in Kenya.
The company produced 42,857 ounces of gold during the 2017 financial year, with 40,285 gold equivalent ounces sold and transferred.
This result does not benefit from the increased processing capacity achieved at the Kilimapesa Gold Mine towards the end of FY 2017, with operational profitability achieved during last two months of FY 2017.
Accordingly, the company believes it is well placed to build upon production and profitability during FY 2018.