Pathfinder Minerals Share Discussion Threads

[hyper al] 22/1/2014 07:16

so who has purchased all these shares?

[melodrama] 20/1/2014 15:13

something going on behind the scenes recently, vols too much for PI catfood investors, heading for biggest daily vol in a good 9 months, last 3 weeks vol similiar

[double6] 20/1/2014 12:18

PFP Net Assets compared to MC of £6 mln ??

Spitfire Oil ... Net Cash = £3mln+ compared to MC of £1.5mln. Latest update suggests investment hopeful in the current year.....

[rajaster] 20/1/2014 12:15

well this may well turn in to a pump dump sooner or later.. stale bulls selling quickly.. quick sell sell sell..make 20% and sell when you can have 100%+

[melodrama] 20/1/2014 12:06

I'm far from a Lawyer, but if Timmy has been naughty, surely the administrator cannot sell the shares in the open market?

[moreforus] 20/1/2014 11:56

+50%

great effort over the weekend

[rajaster] 20/1/2014 11:47

shareprice now seems to be reacting nicely.

[rajaster] 20/1/2014 11:47

Yeh but nicola denied all knowledge of any wrong doing lol. spin masters galore

[melodrama] 20/1/2014 11:46

Intriguing stuff here it seems! This plus CHL and OXS in the gambling fund provide no end of fun! Nicola lost some monies with Bernie Madoff i seem to remember, all not well over the Horlicks breakfast bar these days it would seem

[john6185] 20/1/2014 09:30

£4m = £2m as of June 2013 accounts + VAT Rebate + £1.1m in expenses ordered to be paid by the Generals side. So agreed £4m is overstated, but to consider that causing delay exhaust funds before the conclusion is nonsense.


Contingent Liability - the relevant triggering event is the return of the Mozambique Assets and the start of construction. Events that we will all welcome.


Regarding Cash Burn - yes laywers are expensive. But in the end we won't paying those legal fees, the general will be. Personally I think shareholders would have preferred to spend these considerable sums on progressing a DFS, and starting to make money for PFP Shareholders, and the good people of Mozambique. Instead one of Mozambiques decorated hero's decided to tarnish his reputation after the end of a noted military career. In my opinion, this was no patriotic and nationalist action in the interests of his country, this was blatant self-serving greed, from someone who thought himself above the law.

But thanks for sharing the detail, as I am fairy new to this share.

[stockonomist] 20/1/2014 00:27

£280k per month over 7 months is £1.96m

[stockonomist] 20/1/2014 00:25

LOL maths not your strong point ? a bit like your stock picking PMSL

[rajaster] 20/1/2014 00:06

stockonomist under the proceeds of litigation the general also owes pfp 1.1 million for the legal expenses incurred according to uk law and the judgement in the uk. the general has failed to pay a penny. then add the tax rebate. so from june to now if costs were 230k per month theb spend of 2.1 million would leave approx 1 million plua tax rebate and what the general owes. the assets are still not priced in.

[stockonomist] 19/1/2014 23:20

Which lying conmen have been propagating the myth that PFP have '£4m' ?

[stockonomist] 19/1/2014 23:19

Tuesday, 27 August 2013

Comments on Pathfinder's cash position

23 August 2013

Companhia Mineira de Naburi ("CMdN")
Pathfinder Minerals' Interim Results for 2013

The owners of CMdN, General Veloso and Diogo Cavaco, note the announcement of Pathfinder Minerals' interim results for 2013.

Pathfinder Minerals' financial position

According to Pathfinder Minerals' announcement it had cash of £2.1m at the end of June 2013 (compared to the £11m raised in June 2011 and £3.8m at the end of 2012). This implies a cash burn of approximately £280,000 per month
since year-end 2012.

Given that its published legal expenses were £3.1m, what has happened to the other £5.8m?

Why has the totally discredited Board of Pathfinder Minerals chosen to spend over £250,000 on salaries for themselves and other "expenses" since July 2011 – when it has no assets and no business to operate?

At the current rate of cash burn, Pathfinder Minerals will be bankrupt within 6 months.

[stockonomist] 19/1/2014 23:16

Also note the MASSIVE Contingent Liabilities

3. CONTINGENT LIABILITIES

As part of the agreement for the purchase of the shares in its subsidiary, Companhia Mineira de Naburi SARL, Mb>the Company has agreed to pay the vendors a further sum of $9,900,000 if, following further exploration and appraisal, an agreement is reached for the construction of a facility for the processing of ore extracted from the Naburi mineral sands deposit. Similarly, as part of its agreement for the purchase of the whole of the issued share capital of Sociedade Geral de Mineracao de Moçambique SARL, Comphania Mineira de Naburi SARL has agreed to pay the vendors, BHP Billiton, a further sum of $9,500,000 if, following further exploration and appraisal, an agreement is reached for the construction of a facility for the processing of ore extracted from the Moebase mineral sands deposit.

[stockonomist] 19/1/2014 23:14

B.S.

The Company does not have £4m.

As at last accounting date of June 2013 they had only £2m.

At that stage they were spending at a rate of £2m per year.

Lawyers are very expensive, especially when you are fighting in several different jurisdictions

[rajaster] 19/1/2014 23:04

the thing is PFP has close to £4 MILLION whether tim horlick or his wife were involved inside selling is a matter for them. It is messy to consider the companys partner is upto no good and is involved with the third part namedly the general veloso. so at this point its open game to as the assets are not priced in.

[john6185] 19/1/2014 22:57

The expression "people in glass houses" comes to mind.The chart is why I am invested. 4p in March is my genuine expectation

[stockonomist] 19/1/2014 20:57

8.0p to 0.3p

[stockonomist] 19/1/2014 20:56

I see you avoided the issue of AIM cesspit management