Galileo Resources PLC (AIM:GLR) said it had received R48.8 million (£2.1 million) and a further R5.7 million (approx £0.25m), in the final cash payment from Afrimat for the sale of its Glenover asset.
The junior had a 30.46% direct and 4.99% indirect investment in Glenover via Galagen Proprietary.
Colin Bird, Galileo’s chairman and chief executive, said: This payment marks the end of a long process, and we thank Afrimat for their highly professional technical and commercial approach to this transaction.