Gold Mountain acquiring stake in Papua New Guinea gold and platinum assets
Gold Mountain is proceeding with the acquisition of a 20% interest in gold and platinum company Viva No. 20 Limited following the completion of due diligence.
Viva holds three exploration licences and one exploration licence application in Papua New Guinea.
These are located in the Enga Province about 75 kilometres northwest of the regional centre of Mt. Hagen and 25 kilometres from the closest commercial airfield with a daily flight from Port Moresby.
The company has granted Viva and its shareholders an extension of time up until 31st July 2015 to effect the mechanics of the share transfer to the company.
However, it expects the acquisition to be completed prior to that date.