REG-Corporate & Operational Update <Origin Href="QuoteRef">GLDP.L</Origin>

GoldplatAnnouncement

11/12/2017 07:05

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 Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
11 December 2017
Goldplat plc ('Goldplat' or 'the Company')
Corporate & Operational Update

Goldplat, the AIM quoted gold producer with international gold recovery
operations located in South Africa and Ghana and a gold mine in Kenya, is
pleased to provide a corporate and operational update.

Rand Refinery Dispute
Further to its announcements of 4 April 2017 and 11 September 2017, the
Company is pleased to announce that both parties, being Rand Refinery and
Goldplat Recovery Limited ('GPL') have formally agreed on an arbitration
process for the recovery of the amounts owed to GPL, and have appointed a
retired Appeal Court Judge to act as arbitrator.  The arbitration proceedings
have been scheduled for 25-29 June 2018 and the Company will provide more
information to shareholders regarding these proceedings when appropriate.

Operational Update
The Company is pleased to report that good progress is being made on all areas
of strategic focus. At GPL, a strategic stockpile of in excess of a year of
planned production through the carbon in leach ('CIL') circuits has been
procured and metallurgical testwork is currently being undertaken to optimise
metal recoveries from and profitability of this material. This has been an
important initiative to de-risk the most profitable production stream at GPL
and the Board is encouraged to note that this strategic objective has been
reached within the first six months of the financial year.

At Gold Recovery Ghana ('GRG'), the elution plant construction is progressing
according to plan, and commissioning is expected to begin before the end of
December 2017.  This progress has recently been acknowledged very positively
by the Ghanaian Ministry of Mines. A team is on the ground in Ghana to
commission the tailings project pilot plant, with surveys of target material
for the pilot testing ongoing.

At Kilimapesa Gold (Pty) Ltd, production remains on target for 5,800 ounces of
gold in FY2018 and profitability is being achieved on an operational level. 
This has been achieved despite a number of days of lost production, caused by
the election process which affected diesel supplies.

Gerard Kisbey-Green, CEO of Goldplat commented: "We are pleased to have
finally made tangible progress towards settlement of the dispute with Rand
Refinery after a protracted period of negotiations.  We remain confident that
this arbitration process will result in the full recovery of the amounts owed
to GPL and Company will keep shareholders informed of progress.  From an
operational point of view, I am delighted to say that progress is being made
across the board which positions us strongly for the remainder of the 2018
financial year, and I look forward to providing further detail on this in the
New Year with the release of our quarterly operational updates and Interim
Results."

 ** ENDS **

For further information visit www.goldplat.com, follow on Twitter @GoldPlatPlc
or contact:

 Gerard Kisbey-Green                       Goldplat plc (CEO)                         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 (Broker)               Tel: +44 (0) 20 3005 5000  
 Charlotte Page / Susie Geliher            St Brides Partners Ltd (Financial PR)      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.
This announcement is distributed by Nasdaq Corporate Solutions on behalf of
Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: Goldplat plc via Globenewswire