Last checked at (Sharecast News) - Pathfinder Minerals updated the market on the areas previously licenced to it in Mozambique under mining concessions 760C and 4623C on Friday, which it claimed were transferred in 2011 to an unconnected company, Pathfinder Moçambique, without its knowledge or consent.
The AIM-traded firm said it had become aware that the title holder for mining concession 4623C, with which concession 760C was amalgamated in 2011, had now changed from Pathfinder Moçambique to TZM Resources.
It said it had no connection to TZM, adding that all other details relating to the licence on the cadastre remained unchanged.
"Pathfinder notes the change of title holder name attached to the licence and continues to assert that the transfer of the licence away from the company in 2011 was unlawful," said chief executive officer Peter Taylor.
"The company will continue to pursue a return of the licence to the company's control through engagement with the government of Mozambique or, if necessary, through a Bilateral Investment Treaty claim."
At 0805 GMT, shares in Pathfinder Minerals were up 1.88% at 0.43p.
14 Feb 2012 08:14
Ownership issues continue to hamper Pathfinder Minerals
Struggles at AIM-listed natural resources Pathfinder Minerals - which has mining concessions on the Indian Ocean coast of Mozambique - have continued with former director Jacinto Soares Veloso requisitioning a general meeting of shareholders to discuss the group's affairs. Veloso resigned as a dire
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