Pathfinder Minerals plc: October 2012

Monday 29 October 2012

Decision to walk away from UK proceedings

Comments on the Recent High Court Judgement of Mr Justice Field re Companhia Mineira de Naburi

1. Decision to walk away from the UK proceedings

On 19 October 2012, the day of the recent UK judgement by the Honourable Mr Justice Field, Pathfinder Minerals plc issued a press release which included the statement that General Jacinto Veloso and Dr Diogo Cavaco’s

“defence had been struck out as a result of the Defendants having "flagrantly refused" to comply with English High Court orders”

Pyrrhic Victory for Pathfinder Minerals

19 October 2012

Companhia Mineira de Naburi (“CMdN”)

Response to Pathfinder Minerals plc announcement re UK Court Proceedings

The Board of Pathfinder Minerals plc (“Pathfinder Minerals”) has today announced that the company has obtained a judgement from the High Court in the UK supporting its claim to own the shares of Companhia Mineira de Naburi (“CMdN”). see http://otp.investis.com/generic/regulatory-story.aspx?cid=195&newsid=278231

The owners of CMdN, General Veloso and Diogo Cavaco make the following points:

General Veloso is a highly distinguished Mozambican who, after a decorated career in the armed forces following the country's independence, held many prominent government positions, including Minister of State Security, General Director of the Intelligence Services, Minister of Economic Affairs and Minister of International Cooperation. From 2003-2009 he was Chairman of the Mozambique Chamber of Commerce.

General Veloso is an adviser to the President of the Republic of Mozambique and a member of the National Defence and Security Council. He has acted as the President of the Republic of Mozambique's envoy on numerous occasions, mainly in the matters of the establishment of peace in Mozambique and Angola, the end of apartheid in South Africa and Namibian independence. General Veloso was the chairman of the Government Commission that negotiated the M'Komati Accord of "good neighbourliness and non-aggression" with the Republic of South African 1984. He remains, today, the President of the South Africa-Mozambique Friendship Association.

Monday 29 October 2012

Decision to walk away from UK proceedings

Friday 19 October 2012

Pyrrhic Victory for Pathfinder Minerals