🕐21.12.09 - 10:45 Uhr
Goldplat plc - Agreement to Acquire the Nyieme Gold Project in Burkina Faso
Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration
21 December 2009
Goldplat plc (Goldplat or the Company)
Agreement to Acquire the Nyieme Gold Project in Burkina Faso
Goldplat plc, the AIM quoted gold producer, has entered into an
agreement with Sanu Exploration (BVI) Limited (Sanu), a wholly owned
subsidiary of NGEX Resources Inc, to acquire Sanus option over the 246
sq km Nyieme Gold Project (Nyieme) located in Burkina Faso.
The
Nyieme exploration licence includes known high-grade quartz vein
structures, with drill core results showing up to 17.83 g/t gold over
one metre and 11.67 g/t over five metres.
Under the terms of the agreement, Goldplat will make payments to Sanu
totalling USD 215,000, comprising USD 50,000 immediately, USD 20,000 on
or before 10 May 2010 and USD 145,000 on or before 1 October 2010, in
return for the sole, immediate, exclusive and irrevocable option over
Nyieme.
The option period lasts until 1 October 2011.
In addition,
Goldplat is required to fund expenditure at Nyieme of USD 250,000 in the
period up to 20 October 2010 and a further USD 250,000 in the period up
to 1 October 2011.
On completion of the expenditure outlined above, Goldplat can exercise
its option and earn all Sanus rights, free and clear of all
encumbrances.
These rights effectively comprise 100% of the right,
title and interest in Nyieme.
Thereafter, Sanu will retain a 2% net
smelter royalty based on the actual gross amount of payment received by
Goldplat or its affiliate from the purchaser without deduction for any
cost other than treatment and smelter charges.
A further 1% net smelter
royalty will be payable to a previous holder of the rights.
Goldplats CEO Demetri Manolis said, "The acquisition of Nyieme is the
next step in our strategy of utilising the cash generated from our
Ghanaian and South African recovery operations to build a portfolio of
mining projects with production potential.
We will now build a detailed
development plan, which we will announce to the market in the New Year,
highlighting the projects potential and how we intend to fast-track it
into production."
* * ENDS * *
For further information visit www.goldplat.com
or contact:
Demetri Manolis, CEO
Goldplat plc
Tel: +27 (0) 11 423 1203
James Joyce
WH Ireland Limited
Tel: +44 (0) 20 7220 1666
David Porter
WH Ireland Limited
Tel: +44 (0) 20 7220 1666
Bill Sharp
Alexander David Securities Limited
Tel: +44 (0)20 7448 9820
David Scott
Alexander David Securities Limited
Tel: +44 (0)20 7448 9820
Felicity Edwards
St Brides Media & Finance Ltd
Tel: +44 (0)20 7236 1177
Isabel Crossley
St Brides Media & Finance Ltd
Tel: +44 (0)20 7236 1177
Notes:
Goldplat is an AIM-listed gold producer with operations in Africa.
Its
strategy is to consolidate its position as a gold producer in Africa and
build itself into a highly profitable mid-tier gold company, leveraged
through revenue generated from its gold recovery businesses.
The Company has two recovery businesses based in South Africa and Ghana
producing circa 21,000 ounces of gold per year.
These safely dispose of
mining by-products, and fulfil an important aspect of the mines
environmental management programmes.
The South African plant is located
near the centre of the East Rand Goldfield and raw material feedstocks
are sourced from many of the major South African mining companies,
including AngloGold Ashanti, Goldfields, Harmony, DRD Gold and other
smaller producers.
The Ghana plant, located in the free port of Tema,
provides access to raw materials from mines in Mali, Guinea, Burkina
Faso, Benin, Cote DIvorie, Senegal, the DRC and Mauritania, as well as
Ghana.
Goldplat is looking to increase its asset base through the acquisition
of known deposits with targets of between 200,000 and one million
contained ounces.
To this end, it is developing its wholly owned
Kilimapesa Gold mining project, located in the historically producing
Migori Archaean Greenstone Belt in western Kenya.
Kilimapesa Gold
commenced initial production in January 2009 and has announced an
initial JORC-compliant resource of 1.65Mt at 2.44 g/t Au for 129,000 oz
Au at a cut-off grade of 1 g/t Au for all categories.
Felicity Edwards
St Brides Media and Finance Ltd
Chaucer House
38 Bow Lane
London
EC4M 9AY
Tel: +44 (0) 207 236 1177
Mob: +44 (0) 7748 843871
Fax: +44 (0) 207 236 1188
Email:
Web: www.sbmf.co.uk
______________________________________________________________________
This email has been scanned by the MessageLabs Email Security System.
For more information please visit http://www.messagelabs.com/email
______________________________________________________________________