FFX (ASX) Ann: Update on Corporate Review and Management Changes

Originally posted by marakai ↑

This is yet another issue that has been discussed Ad infinitum over the years. Mali is comparatively very stable politically , and the issue's which do affect it are due mostly to incursions in the very far North of the country around the Sahel and were fairly well dealt with by Operation Serval back in 2014. Sure you get the odd act of militants sporadically here and there but nothing that could be called organized or substantial.

Morila and Bougouni are in the Southern part of the country and far from any threat of that kind at all.

And as for the recent lengthy review, in the famous words of that hawk nosed pig farmer, It was the review that we had to have really.

I mean, how would it look if nothing was done except for a quick 'Symbolic' once over and then six months down the track the Tax issues came up, and then four months later we find out that the Deal with Randgold was up the creek without a paddle ? And does anyone think that the previous bunch signing off on their freebies a week or two before the shareholder vote was actually legit ?
The same bunch squawking now would be apoplectic with the new board if that occurred and all be screaming that they hadn't done their job's properly, no doubt.

I have given the options to management a bit of thought, and while the thresholds for them receiving the oppies are as some have stated a little soft so it seems for now, there is still the underlying point that they are not for a pissy ten cents as the previous lot of Ne'er do wells were groping for, and the new lot would be putting a substantial amount of their own $ in to actually get them for a start.

That starting point is double the current share price and for them to even make ten% on that investment they would have to see BGS' price up at least that much right ?

$500 K spent now for a clean slate and a new starting point, plus an already known larger deposit (how big who knows ?), plus a gun team, new feet on the ground, and a cool $ 3 Million thrown in for good measure if the new BoD can deliver ?

Whats not to like here ?

Expand

"Mali is comparatively very stable politically , and the issue's which do affect it are due mostly to incursions in the very far North of the country around the Sahel and were fairly well dealt with by Operation Serval back in 2014. Sure you get the odd act of militants sporadically here and there but nothing that could be called organized or substantial."

I've got no argument with you there. I'm investing in Mali at the moment through RSG. The French have shown their willingness to knock trouble on the head in Mali and Côte d'Ivoire in recent years. Esh