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Goldplat ‘actively looking’ to buy assets in Southern Africa
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10th August 2010
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JOHANNESBURG (miningweekly.com) – Gold production at Aim-listed Goldplat’s recovery plants in South Africa and Ghana were continuing to perform strongly, its CEO Demetri Manolis said on Tuesday.

Its South African recovery plant business, Goldplat Recovery, has finalised an agreement with Simmer & Jack Mines (Simmers) to acquire 20 000 t of gold-bearing raw material from Simmers’ Buffelsfontein mine.

An intensive cyanidation plant, which improves gold recovery rates, had also been commissioned, providing cost savings and improving the cash flow of the Goldplat Recovery operation.

Goldplat, which plans to build itself into a midtier gold producer through the acquisition of known deposits with targets of between 200 000 and one-million contained ounces, said that it was evaluating potential acquisitions of such projects in South Africa.

“In terms of expansion, we are actively looking for further assets both in the junior gold mining arena in Southern Africa, and through additional gold byproduct opportunities in the West Africa region, that we believe have the potential to materially impact the company's performance moving forward,” Manolis noted in a statement to shareholders.

Goldplat’s Gold Recovery Ghana (CRG) business was also in the process of trying to increase its gold-bearing material supply.

The business had identified and evaluated a significant number of new surface stockpiles of gold-bearing material with suitable gold grades in the Konongo area, in Ghana, and was in negotiations to purchase these.

In March, GRG had signed an agreement with AngloGold Ashanti to acquire fine carbon and mill liners, which were byproducts from the mining process, from AngloGold’s Obuasi and Iduapriem operations in Ghana, for processing.

Meanwhile, GRG was implementing a wash bay area to increase the feed rate of raw materials to the gold plant, while equipment required for the establishment of a fire assay laboratory had been received from South Africa.

This was expected to improve the control of the gold plant and allow for faster evaluation and purchasing of tailings.

MINING OPERATIONS

Meanwhile, the company had completed a strategic plan to expand the operations at its Kilimapesa mine, in Kenya, to produce between 5 000 oz/y and 6 000 oz/y of gold within 12 months of a mining licence being awarded.

The director of survey still had to issue a mining right number before the mining lease could be finalised.

The electricity supply from the Kenya national electricity grid, had now also been extended to the mine, which would reduce the mine’s operating costs. It was previously dependent on diesel generators for its electricity requirements.

Edited by: Mariaan Webb

 

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