Papillon Share Discussion Threads

[encarter] 19/1/2021 16:49

Update on the sale of KilimapesaGoldplat plc ("Goldplat"), the AIM quoted gold producer, with international gold recovery operations located in South Africa and Ghana and an a held for sale underground mining operation in Kenya, is pleased to provide an update on the sale of Kilimapesa.As announced on 31 July 2020, it has been conditionally agreed by Goldplat's subsidiary Gold Mineral Resources Ltd ("GMR") to sell Kilimapesa to Mayflower Capital Investments Pty Limited ("Mayflower") for an initial consideration of USD1,500,000 to be satisfied by the issue of shares to that value in Mayflower and that Mayflower has separately entered into an agreement under which it will assign its rights and obligations under the term sheet to Papillon Holdings plc (LSE: PPHP) ("Papillon"), which is listed on the standard segment of London Stock Exchange and which will, subject to the appropriate regulatory and shareholder approvals, seek to complete the acquisition and raise a minimum USD4,000,000 of funding for the development of Kilimapesa's operations.The terms of the agreement between the Company's subsidiary, Gold Mineral Resources Pty Limited ("GMR") and Mayflower are subject to a number of conditions precedent including the completion of due diligence being conducted by both Mayflower and GMR, the receipt of all necessary approvals, the finalising of formal agreements and the raising of equity by Papillon of at least USD4,000,000.As announced on 1 October 2020, the term sheet was extended to 31 December 2020 based on certain conditions. The parties have now agreed to extend the term sheet and exclusivity period again, from 31 December 2020 to 28 February 2021. The value of the consideration shares to be issued has been increased from USD1,500,000 to USD1,750,000, and an option that can be exercised by Mayflower has been included for considerationto be paid in cash of USD1,500,000 rather than shares. The extension is also dependent on Papillion creditor deeds being executed by 15 January 2021, a majority of Papillon shareholders confirming pre-approval of the proposed reverse takeover by 20 January 2021 and GMR to being put in a position to complete due diligence by 25 January 2021.To date, from signing of initial terms Mayflower has supported Kilimapesa with a subordinated loan of USD400,000 and has committed to support Kilimapesa with a further USD100,000, if required, before completion of transaction.Werner Klingenberg, CEO of Goldplat commented: "Both parties are encouraged with the steady progress made, albeit slower than originally expected, due to delays outside both parties control and Goldplat remains confident in noMayflower's ability to complete transaction. We continue to receive the benefit of the Mayflower management team at 

[encarter] 24/9/2020 09:35

Letter to Guinness book of records:Dear Ross McWhirter, I own shares in Papillion Holdings that have now been suspended for more than 4 years. Is this a record??????

[encarter] 07/9/2020 15:49

I don't need to trust Tatnall to make money but if you consider it a condition of owning shares in a company then why did you buy PPHP? There is no reason why any placing can't be done at 1.5p or even 15p for that matter. I have doubled my money many times when buying cash shells and am hoping to do the same here but only time will tell.

[ianbag] 03/9/2020 17:13

as for advfn - I agree - the only bb I look at on advfn is this one, about once a month, There are far better places to exchange views and ideas than advfn.

[ianbag] 03/9/2020 17:11

Quite correct to trust no one - but the maths is that if the opportunity is a good one the acquisition price will reflect that, yes the vendor is essentially reversing the asset into PPHP but the placing to fund the advancement to production will likely require millions, there is no cash left in PPHP, so they will likely raise a couple of million at least. The shares we all currently have are probably worth about 0.1p per share, if we are lucky. To benefit in any future gains we will need to subscribe for placing shares. The number of shares issued will be many multiples of current issued number. So if it comes down to trust - do you trust Tatnall & co?

[encarter] 03/9/2020 09:20

Sorry I don't trust anyone on ADVFN but even Hugh dilution is fine as long as the share price goes up.

[ianbag] 03/9/2020 08:28

Trust me it will be huge dilution to existing holders, probably get chance to subscribe - but would you ? Better to wait for free float on a tradable stock given their track record

[encarter] 03/9/2020 06:58

I don't think dilution will be to oblivion, let's see. I'm quite excited about the direction they are taking now. Better than second hand car dealers.

[ianbag] 03/9/2020 06:44

So dilution for existing shareholders to oblivion and a holding in an untraceable worthless private company in thanks for the last 4 year’s of spending our money on pointless ventures.

[encarter] 05/5/2020 19:11

Results are out. Still hope.

[ianbag] 31/3/2020 18:37

The guys running this and their other aim listed businesses should be investigated - end of - will they be? we all know the answer to that.

[encarter] 18/3/2020 14:23

SP holding up well.

[eurofizz] 18/2/2020 10:50

What are they paying Lord Monson?

[encarter] 18/2/2020 10:08

Yep but it's taking far too long. Must be a problem somewhere. They announced to deal in may 2018 and raised the cash Dec 2018. Yes that's not a typo it was 2018.

[eurofizz] 10/2/2020 16:34

New to this company - caught my attention with the 2016 suspension still in force then started to do a bit of research, I find Lord Monson joining the board in August 2019 fascinating.

[encarter] 22/1/2020 09:06

Good gawd. What a carry on.

[higson1] 25/11/2019 16:53

Good to see all the resolutions passed today so hopefully relisting must now be very soon .

[encarter] 29/5/2019 07:35

hi Jill hi starch a wad think l pull crush add stub ok ?

[encarter] 24/4/2019 15:57

PPG are on AIM. This has a main market listing.

[marvinridesagain] 05/4/2019 06:37

If you expect anything from Tatnall then I suggest you pop over to PPG were he works part time, bled the company dry after awarding himself mega wages for doing sod all. How this guy gets away without investigation is beyond me. !!!!!!! PUBLIC WEALTH WARNING !!!!! If you invest into anything Tatnall is involved in, you will end up walking home in your underpants. Nothing but an inept free loading prat!

[encarter] 21/12/2018 08:08

News out. Must be close now. Sell or hold?

[ianbag] 08/11/2018 10:14

I imagine they forgot about it

[encarter] 05/11/2018 16:55

What happened to the half yearly report?