Triple Plate Junction sells stake in Papua New Guinea gold project

Triple Plate Junction has agreed to sell its interest in gold exploration project Crater Mountain to operator Gold Anomaly.

Triple Plate Junction has agreed to sell its interest in gold exploration project Crater Mountain to operator Gold Anomaly.

The AIM-listed exploration company will dispose of its 8.0% stake in the Papua New Guinea joint venture for $200,000 in cash.

Gold Anomaly will place the payment in escrow pending the transfer of the interest and approval by the Papua New Guinea government.

Triple Plate Junction will use the cash to fund its operations.

The group will be left with three remaining gold exploration projects in the country - Morobe, Manus Island and Wamum.

The news comes as gold prices register steep falls. Futures plunged more than 9.0% to a two-year low on Monday.

Triple plate shares rose 6.25% to 0.43p at 12:02 Tuesday.

RD

Recommended

Marks & Spencer shares look cheap – should you buy in?
Retail stocks

Marks & Spencer shares look cheap – should you buy in?

Marks & Spencer shares have been a disappointment for investors for two decades. But with the company now on something of a comeback, Rupert Hargreave…
25 May 2022
The Federal Reserve wants markets to fall – here’s what that means for investors
Stockmarkets

The Federal Reserve wants markets to fall – here’s what that means for investors

The Federal Reserve’s primary mandate is to keep inflation down, and lower asset prices help with that. So, asks Dominic Frisby – just how low will st…
25 May 2022
Four high-quality US stocks to give shelter from the storm
Share tips

Four high-quality US stocks to give shelter from the storm

Professional investor Timothy Parton of the JPMorgan American Investment Trust picks four solid US stocks to buy now.
24 May 2022
Three undervalued mid-cap stocks with attractive prospects
Share tips

Three undervalued mid-cap stocks with attractive prospects

Professional investor Katen Patel of the JPMorgan Mid Cap Investment Trust picks three fast-growing mid-cap stocks to buy now.
24 May 2022

Most Popular

The world’s hottest housing markets are faltering – is the UK next?
House prices

The world’s hottest housing markets are faltering – is the UK next?

As interest rates rise, house prices in the world’s most overpriced markets are starting to fall. The UK’s turn will come, says John Stepek. But will …
23 May 2022
Everything is collapsing at once – here’s what to do about it
Investment strategy

Everything is collapsing at once – here’s what to do about it

Equity and bond markets are crashing, while inflation destroys the value of cash. Merryn Somerset Webb looks at where investors can turn to protect th…
23 May 2022
The Federal Reserve wants markets to fall – here’s what that means for investors
Stockmarkets

The Federal Reserve wants markets to fall – here’s what that means for investors

The Federal Reserve’s primary mandate is to keep inflation down, and lower asset prices help with that. So, asks Dominic Frisby – just how low will st…
25 May 2022