From 39 minute mark Doc Mike in answer to a question about sale proceeds financing Goulamina he said " probably not". He then mentioned all sorts of legal and Tax implications etc. The implications are that the proceeds go into FFX bank account? He also said he thinks Mali Government will likely look favorably at FFX holding a meaningful % of ownership. Doc Mike said FFX would look monetise their share at a later date. Monetise may mean use as security for finance etc. The value of the holding retained will appear on the FFX balance sheet. FFX are obviously on the out look for the new co. As a wholly owned discovered resource no value is shown on the FFX balance sheet at the moment. So the spin off will reward us with free shares in newco plus strengthen the FFX balance sheet which will/should be reflected in the SP. As Morila was a purchased asset it will be interesting to see whether FFX are able to revalue the Plant and GOLD reserves?
