106 - The International Resource Journal

FEBRUARY 2013 The African Business Journal91Goldplat (AIM:GDP) is a profitable,African gold producer and explorationcompany with five primary assets includingtwo profitable gold recovery and tailingsoperations in South Africa and Ghana a goldmine in Kenya, and two exploration projectsin Burkina Faso and Ghana. However,perhaps it would be more appropriate to diginto the unique business of gold recoverybefore anything else, as that’s how Goldplat’sunique success story began.The company was set up in the early 2000s in orderto take advantage of the significant supply ofby-products – such as woodchips, mill liners, finecarbon, slags, sludges and waste grease – fromthe South African gold mining industry and, usingan extensive extraction process, recover a significantoutput of gold and precious metals.The founders were able to prove that theycould provide other mining companies with aneconomic and environmentally friendly methodto dispose of mining-related waste materials. Butbeyond that, the company had also discovered asource of steady cashflow that would help fund itsfuture growth plans into the continent.Once the South African gold recovery operationhad secured a foothold in the industry andstarted to create a solid reputation, the companybranched out into West Africa where many of thelarge gold producers had invested, thus setting upits second gold recovery and tailings operation inGhana.At this stage, Goldplat Plc acquired the companyand listed on the London Stock Exchange’sAIM market in June 2006. With the cashflow comingout of both gold recovery operations, Goldplatexpanded into exploration and mining developmentin Africa.“2012 was an excellent year for Goldplat withrecord profits from the recovery operations of£5.24m before tax,” says Russell Lamming, chiefexecutive officer of Goldplat.The company also reported a 25 per centincrease of its JORC compliant mineral resourcesto 931,071 oz. Au across its Kenyan, Ghanian andBurkina Faso gold mining and development portfolio.Exploration and developmentLooking at its gold mining and exploration portfolio,Goldplat has been very busy last year with theproducing Kilmapesa Gold Mine in Kenya, the Anumsogold exploration project in Ghana, and theNyieme gold exploration project in Burkina Faso.Kilimapesa is located in Migori ArchaeanGreenstone, an area historically proven tobe productive in terms of gold mining and