Lady_G
19 Dec 2014
Re: It was the Supreme Court afterall Sorry John but it was not. I checked with the company. You are getting confused between all the cases currently underway. Apparently, the General et al have 8 days to appeal the judgement. The clock starts ticking from the date court papers are served. I note the General's blog says they have appealed so some time in coming days I guess we'll get an RNS update from PFP when they have received notification of the appeal and translated it etc etc.
John6185
19 Dec 2014
It was the Supreme Court afterall [link] this last ruling was from the Supreme Court after all ...i.e. will be final and binding. I wonder why some have suggested otherwise, which has fed the alleged appeal story."Let me give an update on the status of legal proceedings in Mozambique. The principal proceedings presently in train in the Mozambique Supreme Court are two claims for recognition of the London judgments, referred to as the First and Second Claims for Recognition. The claims comprise a number of orders for costs (totalling £1,106,000) by the English court; and certain declarations by the English court to the effect that our subsidiary, IM Minerals Limited ("IMM"
, did indeed validly acquire its 99.99 per cent. stake in our Mozambique licence-holding subsidiary, Companhia Mineira de Naburi S.A.R.L ("CMDN". The reason these declarations were essential to Pathfinder was that IMM needed to demonstrate beyond any doubt that it was (and should now still be) the owner of CMDN. General Veloso and Diogo Cavaco have continually argued that they were entitled to request the transfer of the mining licences to their ownership because Pathfinder never validly owned the company from which they were taken. It has been established as a matter of law that this is not the case. As well as seeking to have the English judgments recognised in the Mozambique courts, Pathfinder has drawn them to the attention of the Government of Mozambique.The First Claim for Recognition was filed with the Supreme Court in March 2013 and was supplemented by final written arguments in late October 2013. The Second Claim for Recognition was filed in August 2013. We are advised that the claims will be decided by the Supreme Court on the papers; and that there will be no oral argument. The court's chairman will prepare a draft judgment for the other judges to consider and, following a meeting between them, a final judgment will be issued. It is not known when judgments might be delivered. As I stated earlier, it may still be a considerable time."
lootgalloot
18 Dec 2014
Re: The saga continues It looks like we're struggling to hold onto recent gains. We've seen this a few times now; PFP wins in courts followed by a short lived spike in share price the a slow decline. Clearly the market is still not convinced that the end is in sight.Having read the RNS again and the Generals blog, it appears that this was not the Supreme Court ruling we were waiting for. The RNS clearly says this is the Maputo court hence the Generals right to appeal. Unfortunately I believe we are no further on than we were a couple of weeks ago when this was 0.2p. We're still waiting for the Supreme Court ruling and hoping that our £1m cash is enough to carry us through.On the plus side it is yet another endorsement of the company's legal position. It is very difficult to see the Supreme Court arrive at any other decision than in our favour.
Old Ma Coni
17 Dec 2014
General has blogged ..... n/m
Emus and Chickens
17 Dec 2014
Re: A ShareholderÂ’s Prophesy watch everyone sell off htig and pile in here.nice if it happens but makes things volatile !
BuyBAO
17 Dec 2014
time to buy
BuyBAO
16 Dec 2014
time to buy
Lochty
16 Dec 2014
Re: A ShareholderÂ’s Prophesy This prophecy turned out to be pretty much spot on for the first 3 month target. (Hit it with 2 days to spare)/Hopefully the rest will follow as you suggest.Thanks for helping keep me in this one up to when the action started. My bottom drawer is looking somewhat healthier now than it was last week.
Dour_Scot
16 Dec 2014
Re: The saga continues Agreed, longterm hold Loot.
BuyBAO
16 Dec 2014
fast start
lootgalloot
16 Dec 2014
Re: The saga continues Point taken Dour; KMR are producing but they also have significant debt. We are debt free with approx. £1m in cash. That should last about a year on current cash burn, by which time we should hopefully hit the General for a further £1m in legal costs. I may sell a little if we get above 2.2p tomorrow but I've hung on in the bad times so I'm determined to stick with it now that things are looking up.It may be a while before you break even but mineral sands prices have to improve in the years to come so I'm sure you'll see profit.
harry600
15 Dec 2014
Stupid question. 5 years ago PFP was trading at >8p. Are the financials now soo different that it's impossible for it to trade at 8p any time soon?
Gold or Silver
15 Dec 2014
Our Henry PFP Market cap £14 millionKMR Market cap £100 million .Agreed KMR has three times the acreage available More reliably one should compare eggs with eggs .Henry`s last endeavour PAF .2003 .0.25p to 3.8p and today 11 years on at circa 11p . Good luck all 0.4p buying continues followers bbr391.blogspot.com
Dour_Scot
15 Dec 2014
Re: The saga continues It is great news Loot, and long awaited, however where we go from here is not clear. KMR's fate is indicative of a very depressed mineral sands market and a general lack of funding for all commodities companies.I'd like to see 2.5p, however I'd be surprised, since KMR are not much above that and they have a producing asset.I''m not sure we'd even see a buyer of the licence given the state of the mineral sands market and general macroeconomic conditions.I'll hold for now since my investment is still down 75% despite this rise.GLA ,Dour
Old Ma Coni
15 Dec 2014
Days like these ...... .... are few and far between. Enjoy it for what it is and use your head not your heart. The large lady in the viking helmet may be getting off her seat but there's still some time before she gets on stage. I wouldn't put it past the General to try and trip her on route.
