KIlimapesa Gold Mine located in Narok County, Kenya has been bought by a buyer sought and found by UK Miner.
The recent financial records of the company state that Kilimapesa Gold Mine has realized an operating loss of US $724,729. The gold mine has minimized the accrued loss from US $2,147,341m which was made in June 2019 towards the company’s end last year. Due to the recurring loss-making, Kilimapesa’s mine was termed as ‘care and maintenance’-minimal activity was taking place within the company. Kilimapesa Gold Mine had been left with only two possible options: The company could look for another investor-since the current investors could not possibly put in any more money into the company that was already running losses. The other choice was to buy Goldplat’s entire stakes.
Goldplat and Mayflower Capital Investments signed an agreement for the sale of 100 per cent of the share capital of Kilimapesa Gold-the owner of the resources and licenses of the mining operation within Narok County. The mine will be sold by the company at US $1,498,956m, however, Goldplat will in future get a royalty of one percent on gold produced and sold from Kilimapesa. According to the media, Goldplat also said it would continue benefiting from the Kilimapesa owing to its shareholding in Mayflower, but did not elaborate further on its stake and disclosed that Mayflower has also signed an agreement with an undisclosed company listed at the London Stock Exchange (LSE), which will be a partner at Kilimapesa.
Goldplat Chief Executive Werner Klingenberg said that Mayflower has already dispatched a group in place and he believes that with proper financing, the acquiring of valuable extracts from the mine tenements is highly possible. The Chief Executive adds that Goldplat can continue benefiting from the development of Kilimapesa regardless of providing any finance or management assets.
