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The rns states "The revised exercise price represents a premium of approximately 50 percent to the closing share price on 27 April 2023." However the exercise price goes from £0.0125 to £0.0075, 1.25p down to 0.75p. I'd have preferred the price to be higher but yes they want the shares.
From the article I get the feeling TZM Resources are ruthless and won't be interested in making a deal with Pathfinder, it will be down to the Moz Gov. IMHO.
https://cartamz.com/index.php/politica/item/11402-reserva-florestal-a-beira-da-destruicao-em-nome-da-mineracao-em-pebane
TZM Resouces sound focussed from the above article.
https://clubofmozambique.com/news/the-first-edition-of-the-mozambique-in-the-uk-week-is-about-to-begin-219571/
I am not involved but I persomally don't think Pathfinder Minerals was mentioned or involved.
Mr Jonathan Summers was appointed on the 17th March 2021.
I wonder what Align's reasons are?
https://www.lse.co.uk/rns/PFP/directorate-change-9fiezypx9ggh3kd.html
Not linked to PFP but potentially encouraging if it puts international focus on Mozambique be reliable in international business.
https://www.teslarati.com/tesla-battery-graphite-deal-au-mozambique-mine/
This site has some interesting case summaries for BIT claims:
https://www.iisd.org/itn/en/tag/mining/
The ***** is P a k i s t a n
Each BIT claim is decided on it's own evidence, the case below has some parallels to PFP wrt a lack of a mining license. $5.9b award! DYOR.
https://www.iisd.org/itn/en/2019/12/17/tribunal-finds-****stan-breached-fet-expropriation-non-impairment-obligations-mining-joint-venture-with-australian-investor-tethyan-copper-company-tethyan-copper-company-v-****stan-icsid-arb-12-1/
An ICSID tribunal ordered ****stan to pay more than USD 5.9 billion in compensation, interest and legal costs to Tethyan Copper Company (Tethyan) for breaches of the Australia–****stan BIT.
As someone mentioned on this board a while back, the Churchill Mining BIT claim against the Indonesian Gov didn't go Churchill's way.
"The World Bank-affiliated International Centre for Settlement of Investment Disputes (ICSID) ruled in December that London-listed Churchill Mining’s entire investment in East Kalimantan in Indonesia was tainted by fraud and was not protected by international investment treaties."
https://www.complianceweek.com/churchill-mining-loses-13bn-fraud-claim-against-indonesian-government/2796.article
55% chance. DYOR and hope for retirement sooner. GLA
It's the history of why the licences were transferred from PFP. It seems an open and shut case in PFP's favour to me, can't see how the Moz Gov can defend transferring the licences to another party. Let's see. I stand to make a lot if this goes to 7p, 12p or £2.49. GLA.
A brief recap....
RNS Thu, 16th Jun 2011 07:00 General Veloso as PFP board member.
RNS 21 July 2011 Mining concession licence 4623C
RNS Fri, 22nd Jul 2011 13:01 Completion of fundraising
RNS Thu, 28th Jul 2011 08:37 Holdings in Company
RNS Mon, 1st Aug 2011 07:00 Total Voting Rights
RNS Tue, 2nd Aug 2011 11:05 Grant of Options.
RNS Fri, 16th Sep 2011 13:50 AGM
RNS Fri, 30th Sep 2011 15:55 Half Yearly Report
RNS Mon, 3rd Oct 2011 07:00 Definitive Feasibility Study
RNS Fri, 21st Oct 2011 12:35 Director shareholding
RNS Fri, 11th Nov 2011 13:00 Temporary suspension of trading, General resigns from Pathfinder.
"General Veloso was instrumental in identifying Pathfinder Minerals' opportunity to mine heavy minerals sands on the Indian Ocean coast of Mozambique. Together with Diogo Cavaco, he co-founded the Company's 99.99%-owned subsidiary, Companhia Mineira de Naburi, S.A.R.L., which holds the Naburi and Moebase licences on which Pathfinder Minerals is undertaking a detailed feasibility study with a view to developing a mine for commercial extraction.
Mining concession licence 4623C ("Moebase") was issued on 13 July 2011 for a period of twenty-five years, replacing the previous exploration and research Licence 73L. Pathfinder Minerals, through its 99.99% owned subsidiary Companhia Mineira de Naburi S.A.R.L., now has mining concessions on both the Moebase and Naburi licences situated on the Indian Ocean coast of Mozambique.
9th Dec 2011 (from RNS 15th Dec 2014)
The General and Diogo Cavaco removed PFP Nick Trew & Gordon Dickie as directors of CMDN the company which had the mining licences and transferred ownership of CMDN shares back to themselves.
Fri, 8th Apr 2016 07:00 Secret ruling
This is an RNS which I highly recommend for entertaining reading and which shows the absurdity of all the shenanigans... in summary Veloso said that there was a secret obligation on PFP, made in 2006 and not disclosed to PFP, to pay him either US$2m or US$100 million. Veloso states PFP didn't pay so their shares in CMDN weren't legitimately transferred. "
Over to the International Centre for Settlement of Investment Disputes to see if the Moz Gov are at fault.Let's see. GLA.
Just noted that SENS are potentially having a management buyout and Peel Hunt have been appointed to "maximise shareholder value". Hope Peel Hunt maximise shareholder value for SAR shareholders.
No mention of ongoing partnering activities amongst all the good updates, more patience required.
Article in the Guardian on GSK "The company has had setbacks in its cancer portfolio and needs some pipeline successes to breathe life into its share price" , SAR for the right price ? https://amp.theguardian.com/business/2021/oct/24/walmsley-needs-a-fast-acting-remedy-for-gsks-malaise
GLALTH.
IMHO the System Operator, which is already a legally separate part of NG's business, carries significant risk for not great reward, it did provide the NG board access / influence to OFGEM, BEIS, Government etc which has now been diluted. This news has been expected for a while.
https://www.investegate.co.uk/audioboom-group-plc--boom-/rns/new-ad-tech-tool-launch---investor-presentation/202107150700042855F/
Looks good to me.
More coverage https://eandt.theiet.org/content/articles/2021/06/battery-storage-system-connected-to-transmission-grid/
Higher levels of two cytokines (IL-12, IFN-y) were associated with slower cognitive decline in aging adults, a new study reports. https://neurosciencenews.com/cytokines-cognitive-decline-18789/
"These results suggest that IL-12 and IFN-? could one day be measured along with other biomarkers to predict future brain health in cognitively normal people–a tool that doesn’t yet exist in medicine." I've no idea how this fits with SAR's TYK2 / JAK1 inhibitors, maybe posters with more expertise can comment on potential application from the paper for SAR's molecules. GLA