Temporary Suspension of Trading

RNS Number : 9658R

Pathfinder Minerals PLC

11 November 2011

 

Pathfinder Minerals PLC

("Pathfinder" or "the Company")

Temporary Suspension of Trading

The Company has received notification from General Jacinto Soares Veloso of his resignation as a Director of Pathfinder Minerals PLC.   In his letter of resignation, General Veloso makes a number of allegations including that the Company's principal asset, the licence to mine heavy mineral sands, owned by Pathfinder's 99.99% owned subsidiary,  Companhia Mineira de Naburi S.A.R.L. ("CMDN"), is no longer owned by CMDN.  Following consultation with legal advisers in Mozambique, the Company is unable to confirm independently whether CMDN still holds the licence, but the directors are taking immediate steps to clarify the situation.  A further announcement will be made as and when appropriate.

Accordingly, the Directors have requested a temporary suspension of trading in the Company's shares. 

Enquiries:

Pathfinder Minerals PLC
Nick Trew, Chief Executive Officer	Tel: + 44 (0) 20 7399 4371
Daniel Stewart & Company Plc (Nomad & Broker)
Oliver Rigby/Paul Shackleton	Tel: + 44 (0) 20 7776 6550

 

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