Pathfinder Minerals (LON:PFP) announced a change in directorship on Monday, causing shares to rise.
The natural resources company announced the departure of director Nick Trew, effective from today.
His successor is Scott Richardson Brown, previously a non-executive director of the Company.
In the statement, the company thanked Mr Trew for his time at the company.
“The directors thank Nick for his unwavering commitment and persistence in preserving the Company’s prospects of achieving a resolution to Pathfinder’s dispute over mining licences in Mozambique.”
The statement added: “The directors remain steadfastly focused on delivering a positive outcome for all shareholders.”
The latest decision follows an onslaught of changes to the board in recent weeks, after just recently appointing Simon Farrell and Scott Richardson Brown as non-executive co-chairman and non-executive director.
Earlier this year, departing executive director Trew was the target of attempted coup, after an activist investor Richard Jennings accused bosses of presenting an overly optimistic outlook regarding the long-standing issue over the ownership of a prospect in Mozambique.
Pathfinder Minerals is a natural resources exploration company with interests focused in Mozambique.
It focuses on particular in mining mining minerals such as ilmenite, rutile and zircon in the region.
The firm is listed on the AIM-market of the London Stock Exchange.
Shares in Pathfinder Minerals are currently trading +14.47 percent as of 10.38AM (GMT).
