REG - Goldplat plc - Grant of Water Use License

GoldplatAnnouncement

16/06/2022 07:00

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RNS Number : 0597P  Goldplat plc  16 June 2022

 

Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration

 

 

16 June 2022

 

Goldplat plc

('Goldplat', the 'Group' or 'the Company')

 

Grant of Water Use License

Goldplat plc, the AIM listed gold producer, with international gold recovery
operations located in South Africa and Ghana, is pleased to announce the grant
of its Water Use License in South Africa.

The Department of Water and Sanitation of the Republic of South Africa has
authorised the water use by Goldplat Recovery (Pty) Limited (a subsidiary of
the Group in South Africa), which includes the abstraction and use of water in
its recovery processes and the impact of its disposal of tailings on a new
tailings' storage facility ("TSF"), according to the conditions set out in the
license, which is valid for 12 years.

The new TSF, which is adjacent to the current TSF, will be constructed over
the next four months at a remaining cost of GBP350,000. The new TSF is
expected to have sufficient capacity to store the tailings we will produce in
our current operations for the next seven years.

The new TSF will also allow us to divert all deposition from the current
facility, which will provide us with the ability of processing the current
facility to recover the JORC resource of an estimated 81,959 ounces of gold
(Table 1) through a third-party facility. To enable us to process the current
TSF through a third-party facility, we will require approval to install a
pipeline to this third-party processing facility and will need to finalise
commercial agreements with the third-party. We expect to receive this approval
by the end of the current calendar year.

 

Werner Klingenberg, CEO of Goldplat commented: "I want to congratulate and
thank the whole team that have been involved in ensuring we develop the
necessary water use management plan and work with authorities to get the water
use license authorised, and I am extremely pleased with the authorisation
received. The license is not just the first step towards the processing of our
current TSF, but an integral part to our South African operation to deliver on
our future plans. The water use management plan will also ensure good
governance in regards with water use and its impact on the surroundings.

 

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

 

 Werner Klingenberg                                 Goldplat plc                                     Tel: +27 (0) 82 051 1071

                                                    (CEO)

 Colin Aaronson / George Grainger / Samuel Littler  Grant Thornton UK LLP                            Tel: +44 (0) 20 7383 5100

                                                    (Nominated Adviser)
 Jessica Cave / Andrew de Andrade                   WH Ireland Limited                               Tel: +44 (0) 207 220 1666

                                                    (Broker)

 Tim Thompson / Mark Edwards / Fergus Mellon        Flagstaff Strategic and Investor Communications  Tel: +44 (0) 207 129 1474

                                                                                                     goldplat@flagstaffcomms.com

 

The information contained within this announcement is deemed to constitute
inside information as stipulated under the retained EU law version of the
Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK
law by virtue of the European Union (Withdrawal) Act 2018. The information is
disclosed in accordance with the Company's obligations under Article 17 of the
UK MAR. Upon the publication of this announcement, this inside information is
now considered to be in the public domain.

 

Table 1

Mineral Resource Estimate of the Tailings Storage Facility, South Africa

 Total Resource
 Domain          Class      Tonnes (Mil)  Density  Au (g/t)  Au (Oz)  U(3)O(8) (g/t)   U(3)O(8) (lbs)   Ag (g/t)  Ag (Oz)
 TOTAL RESOURCE  Measured   0.87          1.32     1.82      50,907   61.41            117,754          4.85      135,573
                 Indicated  0.49          1.37     1.77      27,897   59.73            64,506           4.71      74,165
                 Inferred   0.07          1.30     1.4       3,154    71.40            11,016           2.82      6,356
 Grand Total                1.43          1.34     1.78      81,959   61.32            193,276          4.70      216,094

 

The Tailings Mineral Resource Estimate was announced in accordance with the
JORC Code (2012) in a press release on 29 January 2016. Mark Austin of Applied
Geology & Mining (Pty) Ltd. was the Competent Person responsible for that
announcement. The Company confirms that all material assumption and technical
parameters underpinning the Resource Estimate continue to apply and have not
materially changed.

 

 

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