Business
Update - Preliminary Results & Sale of Kilimapesa
Update - Preliminary Results & Sale of Kilimapesa.
About this update from Goldplat Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 6955A\n Goldplat plc\n 01 October 2020\n \n \n \n \n G\n oldplat plc / Ticker: GDP / Index: AIM / Sector: Mining & Exploration\n \n \n \n \n \n \n \n \n 1 October 2020\n \n \n \n \n \n \n Goldplat\n \n \n \n plc\n \n \n \n \n (\n \n \n 'Goldplat',\n \n \n t\n \n \n he\n \n \n \n 'Group'\n \n \n or\n 'the\n \n \n Company')\n \n \n \n \n \n \n Update on preliminary results announcement and the sale of Kilimapesa Gold \n \n \n \n \n \n \n \n \n \n \n \n G\n oldplat plc (\"Goldplat\"), the AIM quoted gold producer, with international gold recovery operations located in South Africa and Ghana and an underground mining operation in Kenya, is pleased to provide an update on the publication of its preliminary results for the year ended 30 June 2020 and the sale by its subsidiary, Gold Mineral Resources Pty Limited (\"GMR\") of 100% of the share capital of Kilimapesa Gold Pty Limited (\"Kilimapesa\"). Kilimapesa owns the assets and licences of the Kenyan underground mining operation.\n \n \n \n \n \n Annual Results\n \n \n \n \n \n The results for the year ended 30 June 2020 are expected to be released towards the middle of October 2020.\n \n \n \n \n \n Sale of Kilimapesa Gold (\"Kilimapesa\")\n \n \n As announced on 31 July 2020, it has been conditionally agreed to sell Kilimapesa to Mayflower Capital Investments Pty Limited (\"Mayflower\") for an initial consideration of USD1,500,000 to be satisfied by the issue of shares to that value in Mayflower and that Mayflower has separately entered into an agreement under which it will assign its rights and obligations under the term sheet to Papillon Holdings plc (LSE: PPHP) (\"Papillon\"), which is listed on the London Stock Exchange and which will, subject to the appropriate regulatory and shareholder approvals, seek to complete the acquisition and raise a minimum USD4,000,000 of funding for the development of Kilimapesa's operations. \n \n \n \n \n \n The terms of the agreement between GMR and Mayflower is subject to a number of conditions precedent including the completion of due diligence to be conducted by both Mayflowe...