Last checked at 11 Dec 2020 07:00
11 December 2020
Pathfinder Minerals Plc
("Pathfinder" or the "Company")
Update Re Mining Licence
Pathfinder provides an update regarding the areas previously licensed to the Company in Mozambique under mining concessions 760C and 4623C which were transferred in 2011 to an unconnected company, Pathfinder Moçambique S.A., without the Company's knowledge or consent.
The Company has become aware that the title holder for mining concession 4623C (with which mining concession 760C was amalgamated in 2011) (the "Licence"), as specified on the Mozambique Mining Cadastre Portal, has now changed from Pathfinder Moçambique S.A. to TZM Resources S.A. ("TZM"). TZM has no connection to the Company. All other details relating to the Licence on the cadastre remain unchanged.
Peter Taylor, Chief Executive Officer of Pathfinder, commented:
"Pathfinder notes the change of title holder name attached to the Licence and continues to assert that the transfer of the Licence away from the Company in 2011 was unlawful. The Company will continue to pursue a return of the Licence to the Company's control through engagement with the Government of Mozambique or, if necessary, through a Bilateral Investment Treaty Claim."
Enquiries:
Pathfinder Minerals Plc
Peter Taylor, Chief Executive Officer
Tel. +44 +44 (0)20 3143 6748
Strand Hanson Limited (Nominated & Financial Adviser and Broker)
James Spinney / Ritchie Balmer / Jack Botros
Tel. +44 (0)20 7409 3494
Vigo Communications (Public Relations)
Ben Simons / Simon Woods
Tel. +44 (0)20 7390 0234
Email. pathfinderminerals@vigocomms.com
Novum Securities Limited (Broker)
Colin Rowbury / Jon Belliss
Tel. +44 (0)20 7399 9400
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").