The RNS released today by Pathfinder Minerals as per HERE sets out clearly that the Board is now looking to enter the final furlong with regards to a completion of the licence dispute that has tested the patience of shareholders for so long.
As detailed in the RNS, we have once again stepped up with our own hard earned capital to illustrate our faith in both the licence value and the impending basis of a resolution. Our recently released note – see HERE sets out our belief in the valuation parameters that could be derived from a commercially viable settlement and the basis of this valuation underpinnings.
It is evident from the RNS that it seems that not only the Veloso’s – who have in fact been on board for near 18 months now with regards to re finding a solution – but also the other 50% shareholder – the Chinese entity – have also woken up to the folly of the currently stalled basis of the licence exploitation f which there are no winners at present.
Together with the £175k of funding announced on the 3rd April the company now has approaching £500k of cash – more than adequate funding from a Plc operations perspective and plenty in the tin for associated legal costs should a settlement be concluded.
The Board reshuffle puts Dennis Edmonds squarely front of office and we have given our blessing to the option vests – with a strike of 1.25p there is a real incentive to get this done on management’s part too given the relatively de minimis salaries.
There is thus all to play for once again for all those that sail in the good ship Pathfinder Minerals!
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