Update - Recognition of English court costs orders

RNS Number : 9126X

Pathfinder Minerals Plc

02 September 2015

 

For immediate release: 2 September 2015

Pathfinder Minerals Plc

("Pathfinder" or the "Company")

Update Re. application for recognition of English court costs orders

Pathfinder announced on 30 June 2015 that it had asked Mozambique's Supreme Court for permission to appeal against its rejection (announced on 31 December 2014) of the Company's application for recognition of orders by the English court for costs aggregating £106,000 to be paid by General Jacinto Veloso, Diogo Cavaco and General Veloso's company, JV Consultores Internacionais, Limitada.

The Company is awaiting a full translation of the Supreme Court's response to the Company's request but is advised by its lawyers in Mozambique that the Supreme Court has refused the Company permission to appeal against its decision.

Enquiries:

Pathfinder Minerals Plc

Nick Trew, Chief Executive

Tel. [phone]

WH Ireland Limited (Nomad and Broker)

Paul Shackleton or Mark Leonard

Tel. [phone]

Vigo Communications

Ben Simons or Ali Roper

Tel. [phone]

Email. [e-mail]

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.

 

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