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Afternoon All,
I think your name sums up the current situation!
I expect neither to go ahead as a tortoise is quicker than AAG. As regards s the RTO I would be very disappointed as they already had the RTO lined up before the 6 month deadline started.
Keep the faith as I am losing mine.
Adamsky
Good Morning fellow investors or is that sufferers ?
So where are we with the BIT claim ? Lookingformoney posted the below several weeks ago ...........
The extension is to the 15th Jan and was given so paperwork could be submitted to the Moz Courts, no RNS done until a firm timescale on exact length is concluded.
Lookingformoney, who did you contact for this information ? Can you contact them as the date has passed ? If not please give me the e-mail of who you contacted and I will contact them, thanks.
RTO - 1 month from today to get it sorted otherwise PFP shares will be delisted.
Here's hoping that we get some movement on both SOON.
Keep the faith
Adamsky
Poppyseed,
Thank you for your excellent research, have you had any experience of RTO’s and projected price for current PPF shareholders if it completes?
Oldblue1973,
You are incorrect, the starting of the BIT process has nothing to do with whether Pathfinder continues as a company, it is solely down to the RTO.
If by the end of the week no news about the BIT, I will e-mail the company asking what is happening.
Kept the faith.
Adamsky
Morning All,
As Oldblue has said by this weekend 3 months have passed since the sale of IMM to AAG and the BIT claim had to commenced by now and the funding for the BIT claim had to be in place.
The silence is deafening, in my pessimistic mood we will hear nothing this week or next.
Although I would love to be proved wrong.
We are halfway into the 6 month period when the RTO had to be completed by, I still live in hope.
Here’s hoping for some positive news.
Keep the faith.
Adamsky
Morning All,
Please can someone help me with my maths. More bought than sold and the price goes down 20% yesterday!
# Trades 9
Vol. Sold 1,550,000
Sold Value £3.45k
Vol. Bought 1,893,513
Bought Value £5.64k
Keep the faith, or pray !
Adamsky
Morning All,
First of all I have received a reply form Paul Barrett (Executive Director) stating that any significant news relating to the IMM claim will be relayed to the market, any updates on the RTO will also be relayed to shareholders.
Nothing major but the main point is he at least took time to reply and at 20:50 last night.
FreeBuffett , I do not know all the legalities but I assume that the Directors are not allowed to buy as if there is significant news on the horizon isn't that called insider trading and is it a closed period ? I don't know but a semi educated guess !
Keep the faith and who knows what is going on behind the scenes.
Adamsky
Oldblue1973,
I apologise if this seems like an insult but a fairly, sensible and understandable post. I have recommended it, yes hell has frozen over.
As regarding your comments , AAG know they can do what they like and PFP neither has the gumption nor the money to take AAG to task if they fail to start the BIT claim within 3 months.
The example I will give you is that we had a signed SPA for AAG to pay PFP £2 million for the purchase of IMM, which after weeks of waiting and obviously some shenanigans behind the scenes it gets reduced to £1 million. For a company like PFP with hardly any funds they had no option but to cave in and accept the reduced amount.
With all that’s going on in the world and shares being battered I would have thought AAG would have been very keen to get the claim started and slapped on the desk of the Mozambique Government as a big payday should ensue.
Keep the faith and more importantly hope for an RTO.
Adamsky
Morning All,
The 18th of August was the date that Pathfinder sold IMM to AAG.
AAG have 1 more month left to …..
a) instruct lawyers to commence legal proceedings and issue a claim in respect of the Claim within three months of Completion
Pathfinder have 4 months left to carry out an RTO.
I will try and find out how we get updates regarding the legal action as we no longer own IMM and if we then become another entity after an RTO.
One poster was querying relating to the Preference shares and how we will be informed. From the RNS they have taken note of share owners and you will only hear if the claim is successful. Let’s hope they keep those records safe.
Here’s looking forward to lots of updates but don’t hold your breath !
Adamsky
Lfm,
Thank you for your post. The question I have is where did it say the RTO would be underway in 3 months ?
Also if I was TZM I would be sitting back and ignoring any noises from Pathfinder and now AAG as far as they are concerned they have purchased licences and the ownership has been rubber stamped by the Mozambique Mining Department.
Not TZM’s problem.
Poppyseed
Thanks for the update. What are your thoughts about the new directors being appointed?
In my maybe naive way of thinking why bother , AAG own IMM and the main task will be the BIT claim by AAG on behalf of IMM. What value or goal does the appointments achieve ?
Any thoughts on both observations I would be grateful
Thanks Adamsky
Morning LFM,
I have gone through a few old RNS but cannot find the place names matching up so maybe it is not the same area that Pathfinder previously owned the license for.
Either way it makes no difference as we should soon hear about the BIT claim underway.
All the best
Adamsky
Morning Invester01,
Thanks for the article and great news for those who have the chance of the Preference Shares and claim reward.
The more TZM spend it will mean they cannot afford the risk of losing the mine so if they want to settle earlier the price increases. Also if they get the mine up and running and the ruling is to hand back the license , thanks TZM for doing all the hard work and you can either buy it back for many hundreds of millions or Pathfinder can sell it on for that amount.
Keep the good work up TZM.
Adamsky
Good morning RLL93,
The BOD seem very capable of trying to find a prime RTO target but if you or anyone else have any suggestions about prospective RTO’s then I would e-mail Pathfinder.
Nothing to lose as the BOD might not be aware of them.
I would send an e-mail to ……
pathfinderminerals@vigoconsulting.com
Best of luck Adamsky
Morning All,
Has anyone been in a situation similar to Pathfinder and been part of a successful RTO.
I am interested in how the companies share price was pre and post RTO, obviously there were new shares issued but I would be interested in the value of the holding before and after RTO.
Any info I would be grateful.
How much is Pathfinder worth currently to an RTO.
My estimate of how much Pathfinder is currently worth is just over £5.5 million.
This equates to just under 1p per share without the value of the RTO target being taken into account.
Broken down …….
Cash just over £.5 of a million
Tax losses £18:million which saves 25% corporation tax so £4.5 million. (If the full amount can be utilised).
AIM listing £0.5 million (rough guess).
Best of luck to old and new investors
Adamsky
Afternoon Poppyseed,
What fantastic research you have carried out and when reading through your comments and research it gives me even more optimism that a successful and rewarding RTO will take place.
Talking of major shareholders I am surprised there hasn’t been any TR1’s after the massive trades that took place just before the preference share deadline.
Any thoughts ?
Adamsky
Hopefully the RTO is looking positive from this mornings RNS.
Especially the follow comments………..
“reporting progress in due course”
and
“an exciting opportunity to bring in new ventures to create a platform for strong shareholder value growth in the near to medium term."
RNS below ……….
Paul Barrett, Executive Director of the Company, commented:
"Whilst the Reporting Period pre-dates the successful completion of the Disposal of IMM to AAG, that event marked a step change in the Company's strategy going forward and an improvement in its fortunes. The Board, comprising two entrepreneurial exploration geologists, is now well placed to identify and secure one or more projects for the Company's next phase of growth. I am very pleased to be part of this process and I look forward to reporting progress in due course.
Following the receipt of funds in respect of the Disposal of IMM, we have a strengthened balance sheet and an exciting opportunity to bring in new ventures to create a platform for strong shareholder value growth in the near to medium term."
Keep the faith
Adamsky
Not very helpful RLL93, someone who has been seriously ill asks for an update and you turn it into a joke.
The summary is Pathfinder has sold their subsidiary IMM to a international claims expert AAG to pursue the claim. If successful Pathfinder will get a minimum of $30 million or 25% of the claim amount whichever is greater.
If you buy shares now you will not get any benefit from a successful claim , the company has approximately 5 months left to complete a RTO otherwise raise £6 million to become an investment company or distribute the approximately £1 million between the shareholders and cease trading.
This is just the basic overview. Any more questions please ask.
Adamsky
Morning All,
Well the chance to be part of any BIT claim award is behind us so time to look to the future.
Pathfinder now have just under 6 months to action an RTO and become a new company with new prospects.
I am sure the BOD and if Align and Richard Jennings are still a major shareholder they will assist in finding a suitable target.
My estimate of how much Pathfinder is currently worth is just over £5.5 million.
Broken down …….
Cash just over £1 million
Tax losses £18:million which saves 25% corporation tax so £4.5 million. ( this is my understanding, please correct me if wrong )
The current value is nearly twice the current share price.
It is now up to Pathfinder to find a suitable RTO to realise this value and the value of the RTO which could be several times the current worth.
Best of luck to those who have invested and those who invest in the future.
Adamsky
Poppyseed great posts.
Yes it can take up to 5 years but as soon as the Mozambique Government realise they cannot win, UK High Court ruling in our favour, they will probably force the current owners , TZM, to make a settlement. It could be months or years but I am hoping for an early settlement.
As Poppyseed has said you are not just in for the BIT claim and potential massive payout you are in for a potential RTO , cash shell of over a £1 million and tax losses of £18 million which the new company can use,
Two great chances of a payout.
All the best to those invested.
Adamsky