Archived article
Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Pathfinder Minerals booked a first-half loss and said it had identified a potential investor for an asset in Mozambique.
Pre-tax losses for the six months through June amounted to £0.28m, compared to losses of £0.39m on-year.
'Discussions which commenced during the first half of 2019 with regards to potential funding strategies to facilitate a transaction in respect of the Mozambique licence, and finance further development thereof, are continuing positively,' chairman Henry Bellingham said.
'The board now has a preferred party with which it is in early stage discussions.'
'This would potentially allow the company to pursue a transaction with a party which is both well-funded and experienced in mining opportunities in southern Africa.'
'While there are still challenges to overcome, the board remains confident that a transaction is achievable which can deliver value to Pathfinder's existing shareholders.'
'Our confidence is underpinned by the continued willingness of both Pathfinder and General Veloso to conclude a deal.'
At 2:02pm: (LON:PFP) Pathfinder Minerals PLC share price was -0.25p at 1.48p