StockMarketWire.com - 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



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