The terms attached to a potential resolution remain fluid and there is no certainty of a successful outcome to these discussions. As Pathfinder is able to control only its role in these discussions, the Company has no visibility over the timing of which a resolution may be achieved. The Board is, however, encouraged by the progress being made towards an alternative resolution and is optimistic that one can be concluded.
So, Iluka value KMR at £170 million . Which one would assume is fairly cheap and a smart move to link your shares to your prey .
This means that a £50 million valuation for PFP is not out of the question IF , the General decides to play ball. Remember that if has been extended for about four years now . Which is a mighty big IF indeed.
A wise move by the BOD would be to get a bigger player involved , now that the Mozambique courts have decided in our favour .
Patience is the key 0.4 buying continues , good luck all
Kenmare today has increased to £350 million .
One feels is appropriate here .
BOD seem very confident that the Path is clearing quite nicely here .
Big new season signings have not gone unnoticed .
Our Henry is trying his best obviously .
Patience will be required as the legal system in Moz is antiquated at best .
Saw this on another Board and to be quite honest, it makes sense. So, as per normal, money where my mouth is, IMHO it's time to risk a few more here: QUOTE Are Pathfinder Minerals the luckiest mining company in the World? I think yes. While the licence debacle plays out (and it looks to be resolving itself any time now), PFP have been in the enviable position of keeping all their resource firmly in the ground; a 50+ year mine life of superior grade quality, no debt, no operational overheads and the ability to pick and choose from the latest cost efficient technology to mine the site rather being weighed down with legacy machinery and processes. It is no wonder speculation grows about take-overs and partnerships. A current market cap of just £1.8 million with a resource net present valuation in excess of £500 million, even at todays depressed market prices. Pathfinder are the archetypal virgin yet to be fully discovered and deflowered.UNQUOTE
Government approval ?
Not sure how the graph you show deals with the recent consolidation.
Agree that something is afoot, I always envisaged the General getting cold feet on the court steps just before a verdict in Pathfinder's favour and his silence on the blog for instances that would in the past have resulted in comments supports this IMO.
Happy that NT has put his money where his mouth is and was always confident that once this nonsense was sorted out he would have financial backing in place to move forward. This current support sends out a clear message of confidence in a positive outcome for Pathfinder but I fear it may be a negotiated settlement rather that a knock-out blow. As always DYOR.
"the Company has continuously kept an open mind with regards to the merits of a mediated settlement with the Defendants. However, the willingness to date of the Defendants to entertain reasonable terms for Pathfinder's shareholders makes this an unlikely scenario."
"Unlikely scenario" = "never going to happen"
I'm also very sceptical on the legal route. If Moz courts were going to be shamed into doing the right thing then it would have happened by now. Africa will never change.
The only sliver of hope that I can see is for PFP to sue 'Ministry of Mines' for compensation. According to MoM own website, PFP are not the legal owners. Did MoM have a legal obligation to inform PFP before PFP spent millions developing the mine?
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