Pathfinder Minerals issued equity

Pathfinder Minerals said it has raised gross proceeds of £150,000 via a placing of 18.02m shares at 0.8325p each.

Proceeds will further aid it in pursuing the recovery of its mining licences with the ultimate objective of resuming the development of the Moebase and Naburi mineral sand deposits in Mozambique.

It also said that Beaufort Securities Ltd, the sole placing agent, has been appointed as joint corporate broker to Pathfinder with immediate effect.