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Goldplat PLC and Papillon Holdings PLC - Africa-focused gold producer and London-based asset manager - Goldplat says consent for sale of Kilimapesa gold mine in Kenya by Mayflower Gold Investments Ltd, a subsidiary of Mayflower Capital Investments Pty Ltd, has been granted consent by the Ministry of Petroleum & Mining.
In addition, the Competition Authority of Kenya has confirmed that the proposed acquisition of the mine by Papillon Holdings as part of a reverse takeover has been excluded from the provisions of Part IV of the Competition Act No. 12 of 2010.
"Receipt of the confirmation from the Competition Authority in Kenya is another positive development and stands us in good stead to push forward with the remaining necessary approvals ahead of finalising the Transaction and completing a reverse take over in due course. I look forward to providing further updates as the Transaction continues to move through the processes required," says Papillon Executive Director Charles Tatnall.
Goldplat current stock price: 7.20 pence
Year-to-date change: down 11%
Papillon current stock price: suspended since February 15
By Dayo Laniyan; dayolaniyan@alliancenews.com
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