The Kenyan Ministry of Petroleum and Mining and the Competition Authority of Kenya have approved a transaction whereby Mayflower Capital Investments intends to acquire the Kilimapesa gold mine, in Kenya.
Aim-listed Goldplat, the seller, says this puts all parties in a good position to now complete the transaction.
The transaction forms part of Mayflower Gold – a subsidiary of Mayflower Capital Investments – undertaking a reverse takeover of investment holdings company Papillon Holdings.
The Kilimapesa project is a joint venture between Aim-listed gold miner Goldplat and Papillon.
The Kilimapesa project holds licences and assets that form the producing Kilimapesa gold mine and processing operations.