22nd Sep 2015 11:19
LONDON (Alliance News) - Goldplat PLC Tuesday said it has completed a series of capital projects at its South African operation and completed work at its Kenyan operation which will allow it to recommence exploration work.
"We are delighted to announce the completion of further capital projects at Goldplat Recovery - once again all successfully financed internally despite the cashflow problems experienced throughout the past 18 months, to avoid any potential dilution for shareholders," said Chief Executive Gerard Kisbey-Green.
The gold miner said Goldplat Recovery (Pty) Ltd, which operates its South African gold recovery operation, has commissioned a new mill which has replaced the previous mill after it reached the end of its life.
"The new mill has the same capacity as the original mill but will enable more continuous operation by reducing the extensive and unplanned maintenance required to keep the original mill operational," said the company.
Goldplat Recovery has also commissioned a new pumping station at the tailings retreatment carbon-in-leach plant which will increase the volume of material that can be pumped through to the tailings facility. That will allow an extra 500 grams to 1.0 kilogramme of gold production per month.
The new liquid cyanide storage facility has also been commissioned which will lead to lower costs, Goldplat said.
At the company's Kilimapesa gold project in Kenya, Goldplat has equipped and completed the dewatering of the Teng-Teng decline shaft and existing reef drives which will allow the company to continue exploration work that was previously started by its former owners.
Goldplat shares were up 6.0% to 3.44 pence per share on Tuesday afternoon.
By Joshua Warner; [email protected]; @JoshAlliance
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