Pathfinder extends longstop date for IM Minerals disposal

Mining company Pathfinder Minerals updated the market on its disposal of IM Minerals on Wednesday.

The AIM-traded firm announced on 22 March that it had entered into a conditional binding sale-and-purchase agreement with Acumen Advisory Group for the disposal of IM Minerals.

At the time, the longstop date for the agreement was set as 26 April.

However, the company announced that the longstop date for the agreement had been extended into May.

The extension was made by mutual agreement between the two parties.

“Pathfinder announces that, by mutual agreement, the previous longstop date of 26 April has been extended to 11 May,” the board said in its short statement.

At 1310 BST, shares in Pathfinder Minerals were up 4.5% at 0.42p.

Reporting by Josh White for Sharecast.com.