Response to Pathfinder Minerals plc's update re Mozambique Court Proceedings

16 December 2014

The Owners of Companhia Mineira de Naburi, General Veloso and Diogo Cavaco, have noted the announcement by Pathfinder called “Update re Mozambique Court Proceedings”.  This is the usual concoction of half-truths and misinformation which Nick Trew continues to issue on behalf of Pathfinder to the public markets. He grows increasingly desperate to convince shareholders to support him in his futile attempt to claim ownership of an asset for which he and the other Promoters of Pathfinder, John McKeon, Gordon Dickie and Tim Baldwin never paid.

What the judgement actually decided

Response to Pathfinder Minerals plc Half Yearly Report

30 September 2014

The Owners of CMdN, General Veloso and Diogo Cavaco, have noted the statements by Henry Bellingham, the Chairman of Pathfinder in the recent half yearly report of Pathfinder.  It is disappointing that Mr Bellingham, a former Minister of the British Crown, has chosen to issue an incomplete and therefore misleading statement to the market despite having recently been made aware of the full facts of the dispute.

Legal proceedings in Mozambique

Response to Pathfinder Minerals Final Results for 2013

1 July 2014

The Owners of CMdN, General Veloso and Diogo Cavaco, note the publication of the final results of Pathfinder Minerals plc for the year ended December 2013.

The purpose of this announcement is to clarify to investors in Pathfinder Minerals the true state of affairs.

Legal Proceedings in Mozambique

Response to Pathfinder Minerals “Tearsheet” – Summary of the dispute

15 January 2014 

Companhia Mineira de Naburi (“CMdN”)

The Owners of CMdN, General Veloso and Diogo Cavaco, have noted the appearance of a so-called “Tearsheet” on the website of Pathfinder Minerals plc (“Pathfinder Minerals”) following the judgement in favour of the Owners in the Mozambique courts on 21 October 2013 by Judge Arnaldo Rui Siquela. This Tearsheet claims to set out the “background to the dispute” from the perspective of the Directors and Promoters of Pathfinder Minerals (John McKeon, Nick Trew, Gordon Dickie, Tim Baldwin and James Normand). 

It is unclear why this Tearsheet was not made public by way of a formal RNS announcement.  In any case, this Tearsheet is inaccurate, misleading and defamatory.

Set out below is a detailed response to the points raised by the Promoters.