Member Info for Kato_rocks

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

I've been invested since 2016, now just about breaking even . China downturn first then Covid. Now seems to be turning a corner. Don't expect anything life changing, more a very slow burn, better than leaving your savings in the bank.

In the words of Kenny Rogers ...
You've got to know when to hold 'em
Know when to fold 'em
Know when to walk away
And know when to run
You never count your money
When you're sittin' at the table
There'll be time enough for countin'
When the dealin's done
GLA

After buying in 2016 I am actually in profit hallelujah, onwards and upwards!

Link to the Mozambique - United Kingdom Bilateral Investment Treaty (2004)
https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/243244/7150.pdf
Looking back at the RNS's I wonder what happened Nov2011 to make the General transfer the licences? IMO it looks like he didn't get something from PFP that he was expecting. Not that it matters now. We are where we are.
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.

https://southerntimesafrica.com/site/news/international-circus-nations-line-up-to-protect-interests-in-mozambique
Add to the mix that in Sept 2020 according to the above article the Mozambique government has asked the EU (former colonial powers France and Portugal) for assistance to quell an Islamist insurgency in the northern part of the country. General Veloso still has significant sway, but in my politically ignorant sitting in GB opinion he's out of touch. I'm holding with a significant paper loss as I 'm vaguely hoping for a good outcome eventually. I'm still a mortgage slave with a defined contribution pension.