Friday, 20 November 2015

Squeaky bum time for Pathfinder Minerals - part 2

I'm presuming bums are getting particularly squeaky round at Pathfinder Minerals, the controversial mining company focused on Mozambique.

Readers might recall I did a piece in the summer about how auditors for Pathfinder Minerals had raised "going concern" issues at the company, which as far as I can see is now just a cash shell fighting over mining rights in Mozambique. Here is a link:

http://betaville123.blogspot.co.uk/2015/07/squeaky-bum-time-for-pathfinder-minerals.html

Well, a mole has been in touch to point out that in July the company said in its interim report that it had net assets (mostly in the form of cash deposits) of £592,000 but the company burns through almost £100,000 a month.

I have, of course, asked the company's spokesperson at Vigo Communications to comment on the business's cash position but he refused to provide any information.

I guess investors will have to do their own maths...
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