Modification to option Terms between Ashanti Gold and Goldplat for the Anumso Gold Project
Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
16 January 2018
Goldplat plc (`Goldplat` or `the Company`)
Modification to option Terms between Ashanti Gold and Goldplat for the Anumso Gold Project
Goldplat, the AIM quoted gold producer with international gold recovery operations located in South Africa and Ghana and a gold mine in Kenya, notes the announcement by Ashanti Gold Corp. ("Ashanti") (AGZ.V) of 15 January 2018 and confirms that it has agreed to extend the option period, within which Ashanti can acquire 75 per cent. of Goldplat`s interest in the Anumso Gold Project in Ghana ("Anumso").
Ashanti now has until 31 October 2018 to earn an initial 51 per cent. of Goldplat`s interest in Anumso upon the expenditure of US$1.5m. An additional 24 per cent. interest can be earned through expenditure of an additional US$1.5m in the following 12 months.
Ashanti continues its soil sample programme to test for gold anomalies along the 10km of known conglomerate outcropping within the 29.6 km2 licence area. Further announcements will be made in due course.
** ENDS **
For further information visit www.goldplat.com, follow on Twitter @GoldPlatPlc or contact:
| Gerard Kisbey-Green | Goldplat plc | Tel: +27 (71) 8915775 |
| Colin Aaronson / Jen Clarke/ Daniel Bush | Grant Thornton UK LLP (Nominated Adviser) | Tel: +44 (0) 20 7383 5100 |
| Andrew Raca / Justin McKeegan | VSA Capital Limited | Tel: +44 (0) 20 3005 5000 |
| Charlotte Page / Susie Geliher | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |
About Goldplat
Goldplat plc is an AIM quoted gold producer with two market leading recovery operations in South Africa and Ghana and an operational gold mine in Kenya. The Company produced 42,857 ounces of gold during FY 2017, with 40,285 gold equivalent ounces sold and transferred, resulting in an operating profit from continuing operations of £2.9m for the year. This result does not benefit from the increased processing capacity that was 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.
The Company`s strategy is focussed on utilising cash flow generated from its flagship gold recovery and mining operations to self-fund the sustainable growth and expansion of its niche gold recovery business model internationally. The Company is also committed to increasing its primary mining production output through acquisition / gaining interests in producing or near-production assets, preferably in Africa. Goldplat retains exposure to a small exploration project in Ghana, in which Ashanti Gold Corp. is earning an interest via an earn-in option agreement.