Member Info for CaranParker

Has anyone heard how the Mozambique recovery is going?

The RNS states

The Company has agreed with Luangwa that if any value in the New Licences is realized through either a disposal, share sale, listing or a farm-in agreement, then if the aggregate amount of cash available for distribution following such event is less than US$7 million, Luangwa's reasonable costs up to a maximum of US$2 million shall be taken into account prior to any cash distribution to the Company. In the event that the distributable cash available is greater than US$7 million, then these costs will not be taken into account.

What concerns me is the possibility that the first licence to be disposed of could be worth less than $ 7 m which is nothing in comparison to the settlement ranges I heard about. $ 150m to $ 1.5bn the latter being wishful thinking. And $ 2m is 28% of $ 7 m. Has the board satisfied itself that the $ 2 m costs are legitimate. Recall Acumen spent £ 1 m to buy IM.

So what are the anticipated values of the 5 licences? It would be good if the board 1) asked the question; and 2) told us. There must have been some valuation done before agreeing to settle through the tranfer of the licences.

Hi Bugz pl etmknow if you hear from the Telegram Group and I will lreciprocate I I hear from them.

I would also like to join the teleram group. As with Bugzy Old Blue has ruined the experience.

Can you let me know please.

I think it is bad governance as the board was not transparent by not giving shareholders the information that the subcription was in tranches. What else have they not told shareholders?

BIT claim confirmation of registration

https://icsid.worldbank.org/cases/case-database/case-detail?CaseNo=ARB/24/4

Thank you. Reading the RNS 18 Aug-23 I agree with your conclusion.

Hi Edzi

Just checked AAG is also registered in Delaware https://icis.corp.delaware.gov/ecorp/Entitysearch/namesearch.aspx

There are no taxes in Delaware on foreign owned companies doing business outside of the US.

I don't understand why there would be an assignment from AAG to the new company and both in Delaware. Any clues?

Thanks

Thanks LFM, surely they should have issed an RNS? Do you know how long the extension is

Thanks

Thanks

Has anyone received an actual notification of the issuance of the pref shares?

RNS 18 July states Taylor will remain a director of IMM

On 23 June 2023, the Company announced, amongst other matters, that Peter Taylor had resigned as a director of the Company ahead of the commencement of the Annual General Meeting and that Mr Taylor will remain as an employee of the Company in the capacity as Chief Executive Officer and will continue as a director of its subsidiary companies, including IMM. In light of the progress made in relation to the Revised SPA, the Directors of the Company have now agreed with Mr Taylor that he will resign as CEO on Completion but will remain a director of IMM and be available to assist AAG in driving forward the Claim.

Hi FreeBuffet

I thought so too. I checked the 16 Aug-23 RNS and...

Mr. Peter Taylor, the current non-board CEO, will remain with the Company until the completion date of the proposed sale of IM Minerals ("IMM") to Acumen Advisory Group LLC ("AAG"), and then continue to assist the AAG team in pursuing the claim against the Government of Mocambique.

Looks like Taylor has gone

Thank you...

Has anyone got an idea when the "record" or vesting date is for the pref shares?

I staying for the long haul as I believe there should be some positive developments so hoping for a double whammy. Share price increases and a pref share bonanza. There may be an OTC in the pref shares.

KEY thanks for the info.

May be the BoD and CEO have the ostrich syndrome. Head in the sand.

Thank you; I was thinking the same thing and agree with your demand. I would add that in my opinion the Board is being unprofessional by not updating shareholders. If AAG is having difficulties then tell the shareholders and is there a plan B?!!!

Agreed, I hope the £ 1.1m is in escrow and the terms of the SPA allow Pathfinder to keep the funds. Hope is etrernal!