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Pathfinder Min Share Chat (PFP)



Share Price: 0.30Bid: 0.25Ask: 0.35Change: 0.00 (0.00%)No Movement on Pathfinder Min
Spread: 0.10Spread as %: 40.00%Open: 0.30High: 0.30Low: 0.30Yesterday’s Close: 0.30


Share Discussion for Pathfinder Min (PFP)


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Latino
Posts: 984
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Opinion:No Opinion
Price:0.30
Cavaco
Thu 19:16
Well there is still Cavaco! I was wondering when 1st July the General blog stated judgement in few weeks...? Where did they get this from one wonders. Anyway this was inaccurate anyway.
 
johngilchrist
Posts: 3,403
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Price:0.30
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RE: Courts..
Thu 08:57
Let's just hope that out of respect they aren't waiting the general to die... He must be nearly 80 now.
Latino
Posts: 984
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Opinion:No Opinion
Price:0.30
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Courts..
Wed 18:56
MOZ Supreme Court can't realistically stretch this any longer....! There appears to be no way / dialogue with the courts...seem to be doing their own thing and when they want. There must be a timetable somewhere?
johngilchrist
Posts: 3,403
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Opinion:No Opinion
Price:0.35
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RE: Greed
Tue 19:38
Generals appointment as non-exec director of PFP is published here - http://www.investegate.co.uk/pathfinder-minerals--pfp-/rns/board-changes/201106160700105303I/

The original RTO acquisition applied the following allocations/changes of PFP ordinary shares, so the General had a very significant holding, and he would had a major vote on the remuneration committee. Timing as you say may be telling though.

Existing Pathfinder Holding
Percentage Existing Holding
Total Number of Shares following issue of the Consideration Shares
Percentage of Ordinary Shares upon Completion
Diogo Cavaco
-
-
88,129,280
10.89%
Gordon Dickie
300,000
0.61%
89,806,920
11.10%
John McKeon
350,000
0.71%
121,209,700
14.98%
JV Consultores
-
-
110,120,680
13.61%
Nicholas Trew
3,333,333
6.73%
90,375,753
11.17%
Tim Baldwin
5,166,666
10.43%
115,128,316
14.22%

Total
9,149,999
18.47%
614,770,649
75.95%
longandwrong
Posts: 471
Off Topic
Opinion:No Opinion
Price:0.35
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RE: Greed
Tue 17:20
The General was NOT an non-exec!! He was a full Board member with executive powers the same as all the others.
johngilchrist
Posts: 3,403
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Opinion:No Opinion
Price:0.35
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RE: Greed
Tue 17:03
Just regular performance related options with a stretching 10p strike price. Which is BTW a very nice target to be reminded of :)

These allocations are normally strongly tilted to the Executive rather than non-exec board, which may explain the big skew in numbers. If the SP really was 10p then I don't think we'd be complaining. :)

Are we getting value for money ? well if we end up with 3p+ then probably yes ... anything less then it makes you wonder. This case doesn't look like rocket science.
longandwrong
Posts: 471
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Opinion:No Opinion
Price:0.35
View Thread (4)
Greed
Tue 16:34
Keeping the greed theme going for a while, it is worth looking at the company RNS's around the time of the licence theft. 02Aug11 RNS reports the granting of share options to the then Board - giving up to 36million shares to various directors BUT only 1million to the General (and zero to Cavaco). Then just 3 months later, RNS dated 11Nov11 reports the shares have been suspended due to the transfer of licences!! Maybe the greed is more on the side of the Board rather than the General/Cavaco and that the transfer of licences was in retaliation! Any thoughts on that?
johngilchrist
Posts: 3,403
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Price:0.35
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RE: RE: option
Tue 16:13
aye, however our esteemed judge, unless mis-quoted refers to an option to buy shares which confered ownership to IMM. Which appears nonsense, the purchase was in shares in PFP. Only the additional bonus payment of $9,9m is a contingent liability based on the trigger of the mines going into production i,e, manufacturing contract signed.

This is a very common type of arrangement, whereby the bonus is paid only when certain operation targets are met. In this case the point where they commit to actually develop the mine.

Apologies if I mis-understand or mis-quote the leaned Judges, but inaccuracies like that on something so fundamental to the legal challenge, cannot help in accelerating it's resolution. A contingent liability and an option are very different beasts. We have the former listed on our Annual Accounts and thus approved by auditors.

Please correct me if I am wrong.... but I think they are making a mountain out of a mole hill here.
longandwrong
Posts: 471
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Opinion:No Opinion
Price:0.35
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RE: RE: option
Tue 13:23
John, there really isn't any tangible defense. IMHO it has always looks like a simple case of human greed and common theft - proven without a shadow of doubt in the UK's highest court by some of the best judges available. What I find difficult to reconcile is why haven't the police been involved, especially as the other-side have been trying to flog the licence - or isn't fencing stolen goods an illegal activity anymore? Mozambique are a Commonwealth country are they not?
johngilchrist
Posts: 3,403
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Opinion:No Opinion
Price:0.35
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RE: option
Sun 12:31
so IMHO .. we are squeaky clean here... What on earth is their defense? and more importantly why have the Mozambique courts allowed this fiasco to carry on so long.



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