Once again, the financial website Proactiveinvestors has published misguided "research" about Pathfinder Minerals and the on-going dispute with General Veloso and Diogo Cavaco.
This time the "research" has been produced by Beaufort Securities, the new name (since 1st May 2013) for HB Markets, which in turn was a name change from Hoodless Brennan, a stockbroking firm fined by the FSA on more than one occasion for its aggressive selling techniques.
Beaufort says in the "research" that it is “optimistic” that Pathfinder Minerals will be successful in court in Maputo. It is very hard to see where they find justification for this optimism, given a) the injunction in Mozambique preventing recognition of the English judgement and b) the case filed against them in Maputo which will be the real contested hearing of their claims.
Given that the UK court confirmed Pathfinder never paid for the shares of CMdN, the company is likely to lose, at more cost to its hapless shareholders.
Beaufort reckons on the basis of this “research” that Pathfinder shares are a speculative buy. Let’s hope they’re not aggressively punting them to customers.