REG-Appointment - Gold Recovery Operations

Mon Mar 21, 2011 3:00am EDT

* Reuters is not responsible for the content in this press release.

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
21 March 2011
Goldplat plc ('Goldplat' or 'the Company')
Appointment - Gold Recovery Operations


Goldplat plc, the AIM quoted gold producer focussed in Africa, is pleased to announce the appointment of Dr Robert Pitts Smith as Managing Director of its Gold Recovery division, comprising Goldplat Recovery (Pty) Limited in South Africa and Gold Recovery Ghana Limited in Ghana.  This appointment will allow the Company's CEO, Demetri Manolis, to concentrate his efforts on Goldplat's mine development and exploration activities.  It is the intention to appoint Robert Pitts Smith to Goldplat's board in due course.


Robert has been working with Demetri Manolis in the recovery of precious metals since 1979 and formally joined Goldplat Recovery in September 2003.  He has a PhD in Chemical Engineering and a MSc in business administration and was previously responsible for marketing and technical matters for the Goldplat Recovery.


Goldplat CEO Demetri Manolis said, "I am delighted to announce Robert's appointment as Managing Director of our two gold recovery operations in South Africa and Ghana, for which he has had day to day management responsibility for several years.  With his experience, I believe Robert is ideally suited to drive both the efficiency and profitability of our operations.  With the exploration and development of gold mining projects central to our growth strategy of becoming a mid tier gold producer, I will be focussing on advancing our prospective Nyieme gold project in Burkina Faso, Banka Gold Project in Ghana and Kilimapesa gold mine in Kenya, as well as evaluating new opportunities from which to acquire new gold projects to expand our already solid asset base."


* * ENDS * *


For further information visit or contact:

Demetri  Manolis Goldplat plc Tel: +27 (0) 11 423 1203
James Joyce WH Ireland Limited Tel: +44 (0) 20 7220 1666
Felicity Edwards St Brides Media & Finance Ltd Tel: +44 (0)20 7236 1177
Hugo de Salis St Brides Media & Finance Ltd Tel: +44 (0)20 7236 1177


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.  Kilimapesa Gold is a wholly owned subsidiary of Goldplat and is developing the potential of the 213 sq km Lolgorien licence area 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 resulted in a maiden JORC compliant resource being reported in October 2009. 


In December 2009 Goldplat plc entered into an agreement with Sanu Exploration (BVI) Limited ('Sanu'), a wholly owned subsidiary of NGEX Resources Inc, to acquire Sanu's option over the 246 sq km Nyieme Gold Project ('Nyieme') located in Burkina Faso.  The Nyieme exploration licence includes known high-grade quartz vein structures, with drill core results showing up to 17.83 g/t gold over one metre and 11.67 g/t over five metres.


Additionally, the Company has entered into a Memorandum of Agreement with Gulf Coast Resources Inc ('Gulf'), a Canadian mining company for the acquisition the Banka Mining Lease, a ten year renewable mining lease for gold and associated minerals covering an area of 29 sq km located in the Amansie East and Asante Akim South Districts of the Ashanti Region of the Republic of Ghana.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Goldplat plc via Thomson Reuters ONE