Goldplat Plc (LSE: GDP) is an AIM listed company with two precious metals recovery facilities located in South Africa and Ghana and gold mining operations in Kenya and Ghana.
The recovery operation enables the safe disposal of mining by-products and facilitates the discharge of a mines’ environmental management obligations.
Goldplat was admitted to AIM in July 2006 when it raised £1.5 million in gross proceeds by placing 20 million new ordinary shares at a share price of 7.5 pence each. Following the placing, GDP had a market capitalisation of c. £7.8 million.
In April 2024, the company had c. 168 million shares in issue and the GDP share price was 7 pence giving a market cap of c. £11.5 million.
Overview of the company’s assets
The key assets owned by the company are as follows:
1. Gold Recovery Operations
These are the precious metal recovery operations located in South Africa and Ghana, including all processing plant and equipment and the Tailings Storage Facilities.
A JORC-compliant resource report released in 2016 for the Tailings Storage Facility (TSF) at the South African recovery operation indicates that the TSF contains a total of 81,959 ounces of gold, 216,094 ounces of silver, and 193,276 pounds of uranium oxide.
2. Mining and Exploration Licences
Goldplat also owns two mining and exploration licences: the Kilimapesa gold mining operation in Kenya and 49% of the Anumso project located in the prospective Ashanti gold region of the Republic of Ghana.
The former contains a measured and indicated mineral resource of 184,652 oz Au at a cut-off of 1 g/t which includes both the Kilimapesa Hill and the Red Ray deposits. Kilimapesa has been placed on a care and maintenance programme while Goldplat conducts a search for an external investor to provide the funding required to develop the mine.
The maiden JORC compliant mineral resource at Anumso confirmed 2,545,000 tonnes of ore at 2.04 g/t Au for 166,865 oz Au at a cut-off of 1 g/t. Goldplat’s 51% joint venture partner is Ashanti Gold Corp who acquired their interest by spending US$ 1.5 million developing the licence.
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