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Goldplat PLC - South Africa and Ghana-focused gold miner - Says that the Department of Water & Sanitation of South Africa has authorized water use by its subsidiary Goldplat Recovery Pty Ltd. This includes the abstraction and use of water in its recovery processes and the impact of its tailings disposals on a new tailings' storage facility, it adds. The licence is valid for 12 years.
The tailings' storage facility will be constructed over the next four months at a cost of £350,000. It is expected to have sufficient capacity to store tailing produced in the company's current operations for the next seven years. It will also allow the diversion of all deposition from the current facility, which it says will provide the company with the ability to recover the estimated JORC resource of 81,959 ounces of gold.
Current stock price: 9.70 pence, down 0.5% on Thursday in London.
12-month change: up 24%
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