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Goldplat touts progress on sale of Kilimapesa mine to Mayflower Gold
StockMarketWire.com
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Gold producer Goldplat touted progress on efforts to conclude its sale of the Kilimapesa gold mine in Kenya to Mayflower Gold Investments.
The formal legal documentation, which includes the share purchase agreement setting on terms fo the transitions, relating to the acquisition of of the Kilimapesa mine had been filed, the company said.
A deed of novation and royalty agreement, relating to the transfer of all rights and obligation of Gold Mineral Resources, a subsidiary of Goldplat, in the loan agreement, had also been entered into by GMR and Mayflower Gold.
Under the royalty agreement, Gold Mineral Resources has the right to receive a 1% gross net smelter return royalty subject to a maximum of US$1,500,000 on future gold produced and sold by Kilimapesa.
All legal documentation had now been signed and progress was being made on the number of conditions still to be satisfied, the company said.
At 9:49am: (LON:GDP) Goldplat PLC share price was 0p at 7.8p
Story provided by StockMarketWire.com
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