The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
Excellent news - this should give the SP a nice boost.
Pathfinder is pleased to provide a further update on its progress towards restoring an interest in Mining Concession 4623C (the "Licence") in Mozambique which, it is envisaged, would involve it settling all current and pending legal disputes associated directly and indirectly with the Licence.
On 10 April 2019, the Company announced that the Board was evaluating multiple transaction structures, taking into account commercial and regulatory factors, through which the Company would re-establish an interest in the Licence. The Company has received a number of proposals in recent weeks involving relevant interested parties; and in this regard the board of directors of Pathfinder (the "Board") has requested further clarity from those counterparties before it makes a decision as to whether to proceed with any one of these.
Pathfinder is pleased to announce that these discussions are continuing to progress in a positive way with potential counterparties conducting their own asset-level due diligence. Should any of these ultimately conclude, the Board anticipates that the effect on the business would likely be transformational.
Certainly looks like a sell but not big in the grand scheme of things, there were profit takers selling into the rise all day but it didn't stop the price rising. As I mentioned earlier I could get a sell quote on some decent volume which is unusual...lets see what tomorrow brings.
http://www.alignresearch.co.uk/pathfinder-minerals/pathfinder-minerals-game-changing-news-8-long-yrs-mozambique-licence-return-now-sight/
New investors should have a read of the align research....
Absolutely Dino - Aligns current holding is 19.75m shares which is just shy of £400k at todays price...plenty skin in the game. It will be interesting to see if they are in for the long game once a deal is announced in terms of their holding.
That might have been the case goldminer however as you know the recent RNS provided some assurance that they were working with shareholder value in mind.
"In parallel, the Board is evaluating, and is in active discussions with regards to, potential funding strategies (including both partnerships and debt provision) to facilitate the Proposed Transaction and finance subsequent development of the Licence. The Board's objective is to deliver meaningful value to current shareholders and minimise future dilution. Further updates will be provided as and when appropriate"
We have all taken our positions and the BODs participation in the Subscription and Settlement Share at a 48 per cent premium in lieu of salary gives me great encouragement. There are no winners with no deal...
Absolutely agree - I didn't think we would see this price again and have increased my holding. I have been in and out of MATD over the years and when it moves it moves fast. The stock can be very illiquid at times however I just got a quote for selling £20k of stock which bodes well in terms of demand.
I suspect we will be at least 8p before first spud as investors take their positions. Remember the price was near 6.5p mid Feb and this was before the rig contracts where confirmed, unfortunately the delay knocked the price down but it will recover.
While I am positive about the technology and opportunities longer term the results are disappointing. Expenditure and cash burn still too high. More equity dilution planned....management need to get a control of costs (in particular staff costs) in the short term till some of the licensing deals kick in.
o Revenue increased by 62% to £3.5m (2017: £2.2m)
o Adjusted EBITDA1 loss reduced by 27.3% to £20.9m (2017: loss £28.7m)
o Administration expenses, after exceptional items and FX, down 9.2% - expected to further reduce in 2019
o Post-tax earnings loss reduced to £29.4m (2017: loss £30.6m)
o Net cash outflow from operations reduced by 18.4% to £22.1m (2017: £27.1m). Cash at 31 March 2019 £10.8m
o Rapidly reducing cost base as development phase nears completion
o Expect to raise equity from investors in 2019 to further strengthen balance sheet