11th Dec 2012 07:00
Triple Plate Junction Plc
("TPJ" or the "Company")
Divestiture of Vietnam Asset
Further to the Company's announcement of 15th October 2012 TPJ, the AIM-listed gold exploration company focused on South East Asia, announces that Mr. Bill Howell has exercised his option to acquire the entire issued share capital of the Company's subsidiary Triple Plate Junction Limited ("TPJL") for the consideration of £1. TPJL holds a 70% interest in the joint venture project under a mineral exploration licence covering an area of 27km² at Pu Sam Cap, Lai Chau Province, Vietnam.
Pursuant to an agreement executed between the Company and Mr. Howell on 10th December 2012 and as envisaged in the announcement of 15th October 2012, TPJ will maintain an undilutable free carried interest for 10% of this project through to the commencement of commercial production from any resulting future mine.
Fraser McGee, CEO said "We continue with our strategy to focus on PNG and wish Bill all the best with the future development of the project at Pu Sam Cap. We will continue to work closely with Bill as our experienced Exploration Director".
Enquiries
Triple Plate Junction plc | +44 (0)7775 693 237 |
Fraser McGee
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finnCap Ltd | +44 (0)20 7220 0500 |
Matthew Robinson/Christopher Raggett
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