Pathfinder Minerals Plc Update Re. Mozambique Court Proceedings (6366A)
December 23 2014 - 10:30AM
UK Regulatory
TIDMPFP
RNS Number : 6366A
Pathfinder Minerals Plc
23 December 2014
For immediate release: 23 December 2014
Pathfinder Minerals Plc
("Pathfinder")
Further update on Mozambique Court Proceedings
Maputo Court Reports Appeal Application Lodged Against Recent
Judgment
Pathfinder announces that its lawyers in Maputo have today been
informed orally by the Maputo Commercial Bench Court clerks that an
application has been lodged to appeal against the recent judgment
of that court in favour of Pathfinder (announced on 15 December
2014).
Pathfinder is advised by its lawyers in Maputo that there is at
present no indication as to when a decision on whether to allow an
appeal might be made (the Court begins a two-month recess on 1
January).
Nick Trew, Pathfinder's chief executive, said: "That General
Veloso and Diogo Cavaco have applied to appeal against this further
judgment confirming Pathfinder's shareholding in Companhia Mineira
de Naburi comes as little surprise. Their delaying tactics have the
effect simply of deferring the moment when the project can be
developed for the benefit, not only of the Company and its
shareholders, but also of the economy and people of
Mozambique."
Enquiries:
Pathfinder Minerals Plc
Nick Trew, Chief Executive
Tel. +44 (0)20 7464 8410
WH Ireland Limited (Nomad and Broker)
Tim Feather or Liam Gribben
Tel: +44 (0)113 394 6600
Vigo Communications
Ben Simons or Ali Roper
Tel: +44 (0)20 7016 9574
Email: pathfinderminerals@vigocomms.com
Notes to Editors:
Pathfinder Minerals Plc is incorporated in England & Wales
and is admitted to trading on the AIM market of the London Stock
Exchange.
Companhia Mineira de Naburi S.A.R.L., a subsidiary of Pathfinder
Minerals, was issued mining concession licences 760C and 4623C on
13 September 2004 and 13 July 2011 respectively, each for a period
of twenty-five years. Taken together, these mining concessions
cover approximately 32,000 hectares of land on the Indian Ocean
coast of the Zambezia province of Mozambique, known to contain the
heavy minerals, ilmenite, rutile and zircon.
As announced on 3 February 2012, ownership of these licences is
being disputed.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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