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Gold/Mining/Energy
Pathfinder Minerals (PFP) resolution
An SI Board Since August 2019
Posts SubjectMarks Bans Symbol
0 0 0 PFP
Emcee:  miningoz Type:  Moderated
Pathfinder recently appointed Dennis Edmonds as a non-executive director with immediate effect.Edmonds was formerly executive chair of mineral assets firm Alien Metals Ltd and is also a director at Draganfly Investments Ltd.

If a shareholder resolution is passed, Edmonds will be granted 1.5 million company shares which will exercise at 2.75 pence each, expiring after two years.

Non-Executive Chair Henry Bellingham said: "Dennis Edmonds has extremely relevant experience to bring to bear at Pathfinder, particularly at this crucial stage. As an attorney who qualified and practiced in South Africa, before moving to the UK, he knows the region very well.

"He has helped many companies, both as a consultant or as a director, to structure transactions. This will be very useful to Pathfinder as we continue to pursue a transaction in respect of the mining licence and engage with prospective funders," Bellingham added.

Pathfinder Minerals has, after near 8 years, a number of seemingly workable deals on the table in regards to the key licence 4623C in Mozambique looks to, finally, be about to bring to a close this long running saga.

Africa Focus Group who have been coordinating the licence resolution efforts in Mozambique, have themselves placed a minimum value on the shares of just under 4p when they convert their success fee into equity.

It appears things are now about to change, with the efforts of recently appointed CEO John Taylor. John is now focused on assisting Pathfinder in delivering a timely and positive solution to shareholders in what the Board views as a highly opportunistic period to reach a final settlement.

Earlier this year, the Board commissioned an independent technical consultant, 2M Mineral Services, to prepare a revised Scoping Study on the Licence which included a revision of the capital and operating costs and pricing assumptions that were presented in the original scoping study report in 2011. This revision resulted in an estimated pre-tax NPV at a 10 per cent discount rate of US$1.05 billion; with projected annual revenues of US$323 million over a mine life of 30 years.

This is big money and should a deal be completed, people are talking a share price value of between 6p and 10p

Rumours last week began to emerge of John being in Mozambique with his team, meeting with the General to finalise this long awaited resolution. The General is reported to be keen to sign.

One of the signs that give credence to these rumours is that John received 7,500,000 options which ate subject to resolution of the current dispute between the Company and other parties and the successful restoration to the Company of an interest in mining licence 6323C.

Conclusion of this deal has been described as 'transformational' for the company.

With one party very recently taking a large, declarable position and John Taylor getting options for success, I think Pathfinder may well have at last, cleared a way and found their path!

All eyes on an RNS confirming the deal done. Expecting the SP to start moving North as more little snippets are revealed.
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