Pathfinder Minerals PLC (AIM:PFP) shares soared an impressive 60% higher on the junior market on Wednesday after the natural resources company announced that Acumen Advisory Group (AAG) has exercised its exclusive option to acquire Pathfinder’s subsidiary, IM Minerals Limited.
On execution of the agreement, Pathfinder will receive £2mln from AAG, who will proceed to launch legal action against the Government of Mozambique for the expropriation of mining rights.
In late morning trading, AIM-quoted Pathfinder shares were changing hands for 66p, giving it a market value of £3.5mln.