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

GoldplatAnnouncement

24/10/2017 07:30

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

24 October 2017
Goldplat plc ('Goldplat' or 'the Company')
Operational Update

Goldplat plc, 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 announce an operational update for the three months ended 30
September 2017 (the 'Quarter').

Overview
* 95% increase on the same period in 2016 in gold equivalent ounces sold and
transferred during the Quarter to 14,374 (30 September 2016: 7,382 ounces) 
* All operations were profitable during the Quarter at an operational level 
* 133% increase on the same period in 2016 in gold equivalent ounces produced
at Kilimapesa Gold Mine to 1,449 (30 September 2016: 623 ounces) - on track to
produce in excess of 5,800oz targeted during FY 2018 
* Good progress was made in areas of strategic focus including: * Sourcing
sufficient suitable material for the carbon in leach ('CIL') circuits at
Goldplat Recovery (Pty) Ltd in South Africa ('GPL') 
* Ensuring that sufficient ore is sourced from the underground mine for
processing through Plant 2 at Kilimapesa 
* Sourcing sufficient by-product material to keep Gold Recovery Ghana Limited
('GRG') operating to capacity.  
* The erection of an elution plant at GRG during the Quarter
       Goldplat Plc Consolidated           1st Qtr          1st Qtr          1st Qtr          1st Qtr        Year ending      Year ending    
                                            Sep-17           Sep-17           Sep-16           Sep-16           Jun-17           Jun-17      
                                       Equivalent Gold  Equivalent Gold  Equivalent Gold  Equivalent Gold  Equivalent Gold  Equivalent Gold  
                                              Kg               Oz               kg               oz               kg               oz        
 Gold Equivalent Production                                                                                                                  
 Goldplat Recovery                           236             7,588             169             5,418             915             29,418      
 Gold Recovery Ghana                          37             1,190              96             3,088             312             10,031      
 Kilimapesa Gold                              45             1,449              19              623              106             3 408       
 Total                                       318             10,227            284             9,129            1,333            42,857      
 Gold Equivalent Sold                                                                                                                        
 Goldplat Recovery                           285             9,170             133             4,280             702             22,570      
 Gold Recovery Ghana                          81             2,604              42             1,349             259             8,327       
 Kilimapesa Gold                              38             1,224              18              574              100             3,215       
 Total                                       404             12,998            193             6,203            1,061            34,112      
 Gold Equivalent Transferred                                                                                                                 
 Goldplat Recovery                            43             1,376              37             1,179             192             6,173       
 Total                                        43             1,376              37             1,179             192             6,173       
 Gold Equivalent Sold and Transferred                                                                                                        
 Goldplat Recovery                           328             10,546            170             5,459             894             28,743      
 Gold Recovery Ghana                          81             2,604              42             1,349             259             8,327       
 Kilimapesa Gold                              38             1,224              18              574              100             3,215       
 Total                                       447             14,374            230             7,382            1,253            40,285      

Goldplat Recovery (Pty) Ltd ('GPL'), South Africa
* 40% increase year on year ('YoY') of gold and gold equivalents produced
during the Quarter to 7,588 ounces (Q1 2016: 5,418 ounces) 
* 93% increase YoY of gold sold and transferred to 10,546 ounces during the
Quarter (Q1 2016: 5,459 ounces) 
* Good progress has been made in sourcing material for processing through the
CIL circuits with more than 12 months of material available - work continues
to optimise recoveries from this material 
* Legal proceedings with regards to the Rand Refinery dispute continue 
* Good progress is being made in securing a pit for later tailings deposition;
the Department of Mineral Resources has advised the best route and we are
monitoring progress from all stakeholders
Gold Recovery Ghana Limited ('GRG'), Ghana
* GRG produced 1,190 ounces of gold and gold equivalents, with 2,604 ounces of
gold being sold on GRG's own account during the Quarter 
* The erection of a 3-tonne elution plant is progressing well with
commissioning scheduled to begin towards the end of December 2017 
* Discussions continue with the Ghanaian Government regarding a project to
clean-up and process contaminated artisanal tailings and the construction of a
mobile gold concentrator pilot plant in South Africa progressed well. The
plant is expected to be commissioned in Ghana during November 2017 
* Good progress has been made during the Quarter to increase the operational
footprint and sourcing of material from outside of Ghana - targeting shipments
from elsewhere in Africa and South America, with regular and sustainable
shipments now being received from both areas. 
* Approximately 80% of the on-site tailings material has now been removed from
the Ghana plant site, freeing up significant land for expansion and
significantly reducing environmental liabilities.
Kilimapesa Gold ('KPG'), Kenya
* KPG produced 1,449 ounces of gold and gold equivalents, with 1,224 ounces of
gold sold on KPG's own account during the Quarter 
* Planned production rates at Plant 2 are now being achieved on a regular
basis and plant optimisation and cost cutting is now in progress 
* Production build-up from Kilimapesa mine is progressing well to meet the
requirements of Plant 2 
* Permission has been granted to export gravity concentrates quarterly
(previously only authorised to export once per year), which should improve
inventory turnaround 
* National elections caused modest production disruptions during the Quarter
(with employees having to take time off to vote), and the ongoing uncertainty
surrounding further presidential elections continues to impact the reliability
of deliveries to the mine 
* All agreements with land owners and the local community have been
successfully renegotiated in anticipation of the eventual closure of Plant 1. 
* We are pleased to note the appointment of a Kenyan national as Plant Manager
at Plant 2, replacing the South African expatriate who has completed his
contract at KPG
Anumso Gold Project ('Anumso')
* Shortly following the end of the Quarter, Ashanti Gold Corp announced
encouraging progress on exploration work undertaken at Anumso
Gerard Kisbey-Green, CEO of Goldplat, commented:

"With operational profitability achieved at all operations and good progress
being made on our strategic objectives, I am very pleased with the results for
the Quarter. With production rates at Kilimapesa now sustainable at planned
levels for Stage 2, focus will be on cost reduction. At GRG good progress is
being made in our efforts to grow production through sourcing material from
West Africa and South America, and we expect commissioning of the elution
plant scheduled to begin towards the end of December 2017."

** ENDS **

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

 Gerard Kisbey-Green                       CEO 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 (Broker)               Tel: +44 (0) 20 3005 5000  
 Charlotte Page / Susie Geliher            St Brides Partners Ltd (Financial PR)      Tel: +44 (0) 20 7236 1177  

The information contained within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

About Goldplat   
                                                                                            
Goldplat plc, is an AIM quoted gold recovery services company with two market
leading operations in South Africa and Ghana. The Company's strategy is
focussed on utilising its cash flow generated from flagship gold recovery
operations in Africa to self-fund sustainable growth and expansion of niche
gold recovery business model. The Company also has a small gold mining and
exploration portfolio in Kenya, Burkina Faso and Ghana and is evaluating
various opportunities to create value or monetise these assets.
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