I suspect the FFX board/management whisked away all of the cash in the Morila SA bank accounts in an overnight sweep in late June/early July, at the same time the ill-fated sale of LLL shares at a colossal loss was actioned. Leaving local mine management with no working capital to pay the bills. It was probably a legitimate transfer that FFX was fully entitled to do, but whether it was the “right thing” to do is probably still open to debate depending on how you view FFX’s role as essentially a cash teller machine for what increasingly seems to be an unaccountable, uncontrollable Morila SA entity.
*If* this is in fact what occurred, I can see why new ESG-oriented NEDs joining FFX anew would’ve been appalled, why locals are miffed, and why remaining staff on the Morila SA payroll are angry. Add to that question marks and suspicions over the former mining minister and I can also see why the Mali Govt is probably enraged.
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