Goldplat says Ghana gold recovery operations ahead of expectations

AIM quoted gold producer Goldplat has today published an operations update for its three main gold projects in Kenya, Burkina Faso and Ghana, as well as its two gold recovery operations in South Africa and Ghana.

In particular, the company reports "excellent progress being maintained on all fronts," including the commencement of gold mining operations, in January 2012, at its Kilimapesa (Kenya) mine.

Production levels at this mine are expected to rise towards 10,000 ounces of gold by the end of 2012.

Try 6 free issues of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

Furthermore, the company says that its Ghananian gold recovery operations, which performed well in the last financial year, are continuing to perform ahead of expectations in terms of gold recovery and profitability in the first half of 2012, with the trend set to continue in the second half of fiscal year 2012.

Gold recovery operations in South Africa are performing in line with management expectations.

As of 11:39 am shares of Goldplat are rising by 13% to 13p.

AB