Rome Resources Secures Settlement with Mozambique Government Over Mining Concession

Pathfinder Minerals ( (GB:RMR) ) has issued an update.

Rome Resources Plc has reached a settlement with the Mozambique government regarding the expropriation of a mining concession in 2011. As part of the agreement, Rome will receive a 30% carried interest in five new research and exploration licenses in Mozambique, which cover a total area of approximately 59,733 hectares. This settlement, while not providing immediate cash compensation, offers potential future value through the development of these licenses, particularly in graphite mining. The company aims to realize value from these licenses through potential liquidity events, although there is no certainty of monetization. Rome Resources continues to focus on its exploration activities in the DRC, specifically at the Bisie North site.

More about Pathfinder Minerals

Rome Resources Plc, formerly known as Pathfinder Minerals, is a company focused on exploring tin and base metals, primarily in the Democratic Republic of Congo (DRC). The company is involved in the mining industry and has a particular interest in graphite and heavy mineral sands, as evidenced by its recent settlement involving new exploration licenses in Mozambique.

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Technical Sentiment Consensus Rating: Buy

Current Market Cap: £12.14M

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