Business
Corporate Update
Corporate Update.
About this update from Rome Resources Plc
[{"type":"text","content":"\n \n \n RNS Number : 3216I\n Pathfinder Minerals Plc\n 01 April 2020\n \n \n \n \n \n \n \n \n Pathfinder Minerals Plc\n \n \n \n \n \n (\n \"\n Pathfinder\n \" or the \"Company\"\n )\n \n \n \n \n \n Corporate Update\n \n \n \n \n \n Pathfinder is pleased to provide the following update on, inter alia, its progress towards restoring an interest in Mining Concession 4623C in Mozambique (the \n \"\n Licence\n \"\n ) and the assessment of other opportunities within the mining sector.\n \n \n \n \n \n Mining Concession 4623C\n \n \n \n \n \n The Company\n '\n s dialogue with General Jacinto Veloso, a 50 per cent. shareholder in the current Licence-holding entity (the \n \"\n Licence-holder\n \"\n ), continues to be constructive. Both parties view a proposed transaction involving Pathfinder as the most desirable route to a resolution as it would be expected to bring an end to respective legal claims associated with the Licence. \n \n \n \n \n \n Pathfinder has validated evidence that the remaining 50 per cent. shareholding in the Licence-holder has been transferred to a Chinese state-owned third party (the \n \"\n Transferee\n \"\n ). The Board is pleased to announce that, after extensive efforts, direct dialogue with the Transferee has now been established with a view to securing its participation in a proposed multi-party transaction involving the Licence. \n \n \n \n \n \n Any proposed transaction would, as previously announced, necessitate the involvement of a funding partner. Commercial discussions with a preferred partner (first announced on 24 October 2019), which is both technically competent and capable of funding a proposed transaction, along with future development costs associated with the Licence, are ongoing. In addition, further parties which the Board considers to have the requisite balance sheet backing and technical ability are now also actively engaged in pursuing a commercial settlement.\n \n \n \n \n \n Pathfinder continues to solicit the Mozambique Government\n '\n s assistance in encouraging a resolution in respect of the Licence to the benefit of all stakeholders. As part of this initiative, Pathfinder\n '\n s chairman, Sir Henry Bellingham, and CEO, John Taylor, raised the Pathfinder issue with the president of Mozambique, His Exc...