Update Re. Requisitioned General Meeting

RNS Number : 9958Z

Pathfinder Minerals PLC

23 March 2012

 

For immediate release: 23 March 2012

Pathfinder Minerals Plc

("Pathfinder Minerals" or the "Company")

Update Re. Requisitioned General Meeting

Further to the announcement of 2 March 2012 Pathfinder Minerals announces that holders of more than half of the existing share capital of the Company have given Pathfinder Minerals Irrevocable Undertakings or Letters of Intent to vote against the Resolution at a forthcoming General Meeting, in line with the board's unanimous recommendation.

Enquiries:

Pathfinder Minerals Plc

Nick Trew, Chief Executive

Tel. [phone]

Daniel Stewart & Company Plc

Paul Shackleton or James Thomas

Tel: [phone]

M: Communications

Ben Simons or Maria Souvorov

Tel: [phone] /2327

Notes to Editors

Companhia Mineira de Naburi S.A.R.L ("CMDN"), 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.

Pathfinder Minerals Plc is admitted to trading on the AIM market of the London Stock Exchange.  At the Company's request trading in its shares was suspended on 11 November 2011 following notification from General Veloso of his resignation as a director and assertions by him that CMDN was no longer the licence holder.  The Company's ownership rights over CMDN itself are also in dispute and are the subject of legal action in Mozambique and in the UK.

 

END

 

 

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