This time the "research" has been produced by Beaufort Securities,
the new name (since 1st May 2013) for HB Markets, which in turn was
a name change from Hoodless Brennan, a stockbroking firm fined by the FSA on
more than one occasion for its aggressive selling techniques.
Beaufort says in the "research" that it is “optimistic” that
Pathfinder Minerals will be successful in court in Maputo. It is very hard to
see where they find justification for this optimism, given a) the injunction in
Mozambique preventing recognition of the English judgement and b) the case
filed against them in Maputo which will be the real contested hearing of their
claims.
Given that the UK court confirmed Pathfinder never paid for the
shares of CMdN, the company is likely to lose, at more cost to its hapless
shareholders.
Beaufort reckons on the basis of this “research” that Pathfinder
shares are a speculative buy. Let’s hope they’re not aggressively punting them
to customers.
