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Ann: Government of Mali - Update, page-85

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benladeng414

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23/08/23

21:20

Post #: 69511625
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Originally posted by John_Wayne: ↑

Question. Is there not a mine rehabilitation trust setup as a seperate legal entity protected from any potential liabilities claimed by contractors?

I would have thought this as a legal requirement? I know it is in Tasmania. How about Mali?

I.E If the local limited liability company (Morila Sa) goes bust then there is money set aside for rehabilitations which contractors cannot claim.

Surely Morila SA and it’s international backers would have been required to set aside some cash for this?

It’s outrageous if not and IMO fair enough for the GOV to want to ensure that the rehabilitation costs are covered.

I say this as an investor of both FFX and LLL.

Does anyone know?

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Only the newly adopted 2023 Mali mining code has a clause for rehabitation liabilities.
It requires the miner to deposit the bond into a local bank in Mali to cover future rehabitation liabilities before a permit is issued.

FFX Price at posting: 20.0¢ Sentiment: None Disclosure: Held
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Ann: Government of Mali - Update, page-85

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