Business
Kilimapesa Gold Acquisition - Kenya
Kilimapesa Gold Acquisition - Kenya.
About this update from Goldplat Plc
[{"type":"text","content":"\n \n\n\n\n Goldplat plc / Ticker: GDP / Index: AIM / Sector: Mining &\n Exploration\n24 September 2009\n Goldplat plc ('Goldplat' or 'the Company')\n Kilimapesa Gold Acquisition - Kenya\n\nGoldplat plc, the AIM listed gold producer, announces that it has\ncompleted the purchase of the remaining 50% interest in Kilimapesa\nGold (Pty) Limited ('Kilimapesa Gold') for US$2.7 million, from\nInternational Gold Exploration AB ('IGE'), through the Company's\nwholly owned subsidiary Gold Mineral Resources Limited. Goldplat now\nowns 100% of Kilimapesa Gold and its Lolgorien gold project, which\nincludes the operating Kilimapesa Hill gold mine and adjacent\nexploration assets located in South Western Kenya within the\nhistorically producing Migori Archaean Greenstone Belt.\n.\nThe consideration for the acquisition is US$2.7 million, of which\nUS$1.2 million has been paid, and the balance payable in six monthly\namounts of US$250,000, commencing when Kilimapesa Gold's mining\nlicence is issued by the authorities in Kenya. The consideration\npayable to IGE for the acquisition of Kilimapesa Gold will be met\nfrom Goldplat's existing cash resources.\n\nGoldplat expects to announce a JORC compliant resource at Kilimapesa\nGold in the near future. Further details on the Company's expansion\nplans for Kilimapesa Gold will be announced in due course.\n\n * * ENDS * *\n\nFor further information visit www.goldplat.com or contact:\n\nDemetri Manolis, CEO Goldplat plc Tel: +27 (0) 11\n 423 1203\nJames Joyce WH Ireland Limited Tel: +44 (0) 20\n 7220 1666\nDavid Porter WH Ireland Limited Tel: +44 (0) 20\n 7220 1666\nBill Sharp Alexander David Securities Tel: +44 (0)20\n Limited 7448 9820\nDavid Scott Alexander David Securities Tel: +44 (0)20\n Limited 7448 9820\nFelicity Edwards St Brides Media & Finance Ltd Tel: +44 (0)20\n 7236 1177\nIsabel Crossley St Brides Media & Finance Ltd Tel: +44 (0)20\n 7236 1177\n\n\n\nNotes\nGoldplat plc is an AIM-listed gold producer with operations in\nAfrica. Its strategy is to consolidate its position as a gold\nproducer in Africa and build itself into a highly profitable mid-tier\ngold company, leveraged through revenue generated from its gold\nrecovery businesses.\n\nThe Company has two recovery businesses based in South Africa and\nGhana, which, by safely disposing mining by-products, fulfil an\nimporta...