5th Jul 2007 11:15
Goldplat plc05 July 2007 Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration 5th July 2007 Goldplat plc ('Goldplat' or 'the Company') Signs Agreements with AngloGold Ashanti and Rand Refinery Goldplat plc, the AIM listed gold producer, has signed agreements with bothAngloGold Ashanti Limited and Rand Refinery Limited to acquire materials whichwill be processed at Goldplat's gold recovery plants at Benoni in South Africaand at Tema in Ghana. The agreements reinforce Goldplat's blue chip client baseand underpin its reputation as a leading recovery business. It is the Company'saim to utilise the revenue gained from its operations in South Africa and Ghanato secure and develop gold mining projects in Africa, as highlighted by itsrecent joint venture in Kenya. The contract with AngloGold Ashanti, which runs for an indefinite period,includes by-products comprising of woodchips, rubber and steel mill liners, oilsand greases from all AngloGold Ashanti's sites at both the Vaal River and theWest Wits areas. The agreement with Rand Refinery is a strategic alliance,under which Goldplat has first right of refusal to process all Rand Refinery'sby-products not suitable for its own refining process. In turn, Rand Refinery,which already refines the bullion produced by Goldplat in South Africa, hasexclusive rights to refine Goldplat's Ghanaian production. Goldplat CEO Demetri Manolis said, "These agreements are important for Goldplatin a number of ways: they ensure a continuing supply of quality material forprocessing, where we already have stocks equivalent to almost two yearsproduction in Benoni, and more importantly, they highlight our position as thecontractor of choice to deal with the by-products from the major mining houses.With guaranteed feed we can secure revenue which will be utilised to fulfil ourstrategy of becoming a leading mid-tier gold mining house through selectedacquisitions. In this vein, our team is already on the ground evaluating therecent acquisition of an interest in the Lolgorien licence area in Kenya, whichwe are aiming to fast-track to production." * * ENDS * * For further information visit www.goldplat.com or contact: Demetri Manolis, CEO Goldplat plc Tel: +27 11 423 1203 Mob: +27 82 454 7392 James Joyce WH Ireland Limited Tel: +44 (0)20 7220 1666 Isabel Crossley St Brides Media & Finance Ltd Tel: +44 (0)20 7242 4477 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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