Goldplat PLC - AIM-listed Africa-focused gold producer - Notes subsidiary, Gold Mineral Resources Pty Ltd, is selling Kilimapesa Gold Ltd to Mayflower Capital Investments - which Goldplat now confirms has undergone a reverse takeover at the hands of London-listed Papillon Holdings PLC. Papillon will acquire some contractual production and exploration rights held by Mayflower in two gold assets. Papillon will buy entire Kilimapesa gold mine in Kenya and a 70% stake in Kakamoeka gold project in Congo Brazzaville. Goldplat will receive USD1.5 million from the deal, which is subject to Papillon raising USD4.0 million. Papillon's shares will now be re-admitted to trading on the London Stock Exchange.
Goldplat current stock price: 7.60 pence
Year-to-date change: down up sharply from 2.60 pence
Papillon current stock price: 1.33 pence
Year-to-date change: Suspended
By Paul McGowan; paulmcgowan@alliancenews.com
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GoldPlat (GDP)