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RNS Number : 5226E Pathfinder Minerals Plc 27 February 2024
27 February 2024
Pathfinder Minerals plc
("Pathfinder" or the "Company")
Update on Rome Resources
Pathfinder Minerals PLC (AIM: PFP), an AIM Rule 15 cash shell, notes the
announcement made by Rome Resources Ltd ("Rome Resources") on 26 February
2024, detailing, inter alia, that Rome Resources has commenced extension
diamond drilling on its Kalayi and Mont Agoma Prospects on PEPM 13274 and PR
15130 respectively (together the "Bisie North Tin Project").
On 29 November 2023, Pathfinder announced, inter alia, that it had entered
into non-binding heads of terms regarding a potential acquisition of the
entire issued and to be issued share capital of Rome Resources by Pathfinder
(the "Proposed Acquisition"). Related to the Proposed Acquisition, Pathfinder
also simultaneously announced that it had agreed to lend Rome Resources up to
CA$2,500,000.00 on an unsecured basis (the "Loan"). In this regard, Pathfinder
is pleased to note that the Loan, which was integral to entering the
non-binding heads of terms in relation to the Proposed Acquisition, has
enabled Rome Resources to progress activities in relation to the Bisie North
Tin Project.
The Company is pleased with the progress made to date in relation to the
Proposed Acquisition and all advisers are continuing to work hard on the
proposed transaction to bring it to fruition. In this respect, Pathfinder is
pleased to have engaged MSA Group (Pty) Ltd ("MSA") to undertake a Competent
Persons Report on the Bisie North Tin Project and the Company will update the
market in due course.
The Rome Resources announcement is available for viewing on the SEDAR+
website.
Enquiries:
Pathfinder Minerals Plc
Paul Barrett, Executive Director
Tel. +44 (0)20 3143 6748
Allenby Capital Limited (Nominated Adviser and Broker)
John Depasquale / Vivek Bhardwaj / Lauren Wright (Corporate Finance)
Stefano Aquilino / Joscelin Pinnington (Sales & Corporate Broking)
Tel. +44 (0)20 3328 5656
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