Pathfinder Minerals Plc Update on Rome Resources
February 27 2024 - 2:00AM
RNS Regulatory News
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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