REG-Update on Negotiation with Rand Refinery <Origin Href="QuoteRef">GLDP.L</Origin>

GoldplatAnnouncement

12/01/2018 07:05

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 Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
12 January 2018
Goldplat plc ('Goldplat' or 'the Company')
Update on Negotiation with Rand Refinery

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 an update on its dispute with Rand Refinery.   Further to
the operational update on 11 December, in which Goldplat announced that Rand
Refinery and Goldplat Recovery Limited ('GPL') had formally agreed on an
arbitration process for the settlement of the dispute between the two parties,
the Company is pleased to report that the parties have signed a Memorandum of
Understanding ('MOU') regarding a proposed full and final Settlement
Agreement. The MOU contains terms agreed to for inclusion in a Settlement
Agreement, including agreement on an undisclosed amount to be paid by Rand
Refinery to GPL in full and final settlement of the dispute. It is intended
that the settlement be made the award in the ongoing arbitration process.
Further details will be provided once the Settlement Agreement has been
signed.

Gerard Kisbey-Green, CEO of Goldplat commented: "We are very pleased to have
been able to progress discussions with Rand Refinery to this point and to have
agreed terms for a settlement of the dispute. While the proposed amount is
less than the full amount claimed by us, we believe that the proposed
settlement and expected consequent expeditious conclusion of the arbitration
process will not only alleviate the time and costs of the agreed legal process
and free up valuable management time, but it also will allow business between
the two parties to resume on the basis of a fresh start with renewed energy
and focus in all areas to further strengthen and build the long standing
relationship that exists between the two companies."

 ** 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  

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 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