FFX 0.00% 20.0¢ firefinch limited

Ann: Drilling commences at Morila, page-232

  1. 3,548 Posts.
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    I think the reason the market is having problems with FFX is, this is there fifth company name, eagle eye, Birimian Ltd, Birimian gold, Mali Lithium now FFX, they are also on there 3rd board of directors in 4 years, the market sees zero stability here, they announced they would be a producer from day 1, yet it is more realistic to believe they may be 12 months away from the first pour, without any guarantees the tailings mound holds anything except hope, so we have a situation where they have to spend an unknown amount of cash on dewatering a mammoth size swimming pool, hope it doesnt rain and the pit dries out enough to access it, hope there is enough gold in the existing leases, they say that wont be looked at till May 2021, in the meantime they have kept all the employees of all different categories on the payroll, from what I am reading the mill and plant does need some work done to it and the power has to be upgraded, if so then its a little while off being sorted, Barrick and Ashanti put disclaimers in the announcement when FFX advised they were buying the plant and mine and there was so much gold available, Barrick and Ashanti categorically denied it, hopefully for holders this will come together but I feel it will not be a producer from day one, maybe if everything falls into place the middle to late next year the wheels may start turning, good luck holders
 
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Currently unlisted public company.

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