Member Info for goldminer21

If the BoD told us that a final ruling from the Moz court would be next week then I think it would go in favor of PFP, but nothing is in sight, just more dilution and no communicated plan for the way forward. After 6 years of this mess the BoD has to do better than this or this ship will sink under current management.

steelr66, I bet there are more than a few bureaucrats at the Mozambique�s Ministry of Mineral Resources who would make licences disappear, be vaporized, replaced, cancelled, transferred to someone else at the stroke of a pen if the brown paper bag was big enough, and maybe the same would be true for the Moz courts.

I'd really like to believe that the Moz court will soon rule in favor of PFP, Itzagamble, but they have had that opportunity for 6 years now with no result. You can see the way so called freedom fighters across Africa have won political power after the colonial powers left and then they line their pockets as spoils of war, fighting not for the freedom of people but for their own gain. Moz is ranked 4 places lower than Nigeria on Transparency International's corruption index and you can bet GV et all still have a lot of people in Moz government in their back pockets, so an out of court deal is the only way forward in my view.

Itzagamble, my personal view is that I don't think the Moz courts will make a ruling on this one, that time has passed long ago. So a resolution out of court looks like the only way forward, and the outcome of the EGM will decide who shareholders want at the helm of PFP to get the job done.

Let's hope this can be worked out in 2018. With the 5 to 10 year outlook for world heavy minerals prices looking very good the share price for PFP could be well over 1 pound when the mine is built, producing and shipping product, so I'm definitely holding tight on this one.

TIA - This is Africa.

What I don't understand is that Eduardo was appointed in May 2016 as local rep and so after 17 months (to October 2017) GV and DC are saying "To date there has been no negotiation underway or even started." How is this possible? - explanations anyone?

Will the original letter be made available as part of the EGM documentation I wonder?

- lets suppose the new BoD comes in, does 'the deal' and GV and DC get their money ... but then by slight of hand the licenses still don't come back - anything is possible in Africa!

correcting myself - I've no idea if a substantial settlement has been offered by PFP BoD or not - I meant to say that surely all this will take to get resolved is an agreed final settlement sum, maybe around the $10mil level, which is what I gather GV et al wanted in 2011?

Reading this then it appears that the battle from 2011 is still on and that not even a substantial settlement is enough for GV and associates to walk away.

the RNS's only said that a framework of an agreement was presented and that PFP BoD were optimistic that an agreement could be concluded. In my understanding a framework agreement is basically a draft agreement so it was not a final agreement approved by all parties for sign off. But Align is saying that no framework was presented so who do we believe?

I can only see more stars longandwrong

you would hope that the owners of Pathfinder Mozambique would just aim to achieve an out of court negotiated settlement amounting to lots of dollars and then walk away, but there seems to be more going on behind the scenes. Personally I can't believe that previous RNS's in late 2017 about a framework agreement having been presented were not true - how could this be? Someone is telling porkies somewhere along the lines and I don't think it would be PFP's BoD.

But even if an EGM does go ahead then its not a forgone conclusion that the current BoD will be ousted.

no news pump & dump

Critical question Dinoman - find out who exactly the proposed new BoD is?

Roger that FlyingHorse1

Dinoman - my hope is that an EGM doesn't happen because it could wreck these final stages of negotiations. Mozambique has billions of dollars invested in existing oil and gas and mining projects and billions more awaiting final investment decision by multinational corporations who are aware of this case. The is a case of license theft in 2011, pure and simple, and I bet its a big PR problem for the Moz government. They know that the Moz high court will eventually have to rule in favor of PFP plc and go with the UK high court ruling, however they would prefer this problem to go away via an out of court deal. My bet is that negotiations with GV are temporarily suspended and its because GV is playing hard ball games for a higher payoff. (He originally wanted $9.9 mil in 2011, or thereabouts?). I bet that the negotiations will resume and the deal will be done sometime this year, because GV knows that if there is no deal then he will lose the Moz high court ruling and will get zero payoff and a slap in the face from the new Moz government. So I for one support the BoD to maintain a steady heading to get this sorted once and for all.

with this latest hurdle to overcome I can't see anything being resolved for another couple of months yet InvesterInvester.