News in the Supreme Court decision will be with us within 2 months. Surely.
This could come completely out of the blue, as there will be no court proceedings.
Personally I think they have taken enought time already. The question of English jurisdiction probably takes a day to confirm, as it's detailed in the contracts. I'm no lawyer, but What else do they have to consider?
This item has been placed in Africa Intelligence. If it was placed by anyone connected with the company, it may well be that shareholders are being groomed for defeat.
MOZAMBIQUE WHO'S WHO Jacinto Veloso A reserve general, pillar of the ruling Frelimo party and a former minister of the interior and international cooperation, Jacinto Veloso is waiting for a verdict from Mozambique’s supreme court in a case pitting him against Britain’s Pathfinder Minerals concerning the assets of Companhia Mineira de Naburi (CMDN). JV Consultores Internacionais Lda, a firm controlled by Veloso along with other members of his family and his partner, the Portuguese-Angolan businessman Diogo Henriques Cavaco, is claiming the rights in question, namely two concessions containing ilmenite, zircon and rutile in Zambezia province. The court’s decision, which could fall in coming months at the earliest or in two years at latest, must either validate or nullify a verdict handled down by Britain’s High Court on Oct. 19, 2012. It declared the British firm IM Minerals Ltd., an affiliate of Pathfinder Minerals, as legal owner of the two permits. Further legal action cannot be taken in the U.K. The Mozambican general appealed against the High Court ruling but his case was thrown out by the appeals court in London in April, 2013. Subsequently, a Mozambique court moved last November to overrule a decision by IM Minerals in January, 2013, to oust Veloso, his daughter and Cavaco from CMDN's board. http://www.africaintelligence.com/AMA/who-s-who/2014/07/15/jacinto-veloso,108031072-ART
still time for him to be proved correct. I think it would deliver the formal decision from the Supreme Court judges on the Generals appeal and whether they will enforce the UK High Court order to return the assets.
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