Firefinch Executive Chairman, Dr Alistair Cowden, said:
“A confluence of events, including cost inflation, ECOWAS sanctions and contractor performance has resulted in underperformance at Morila.
The Board has acted decisively to address this with management changes, cost cutting, a pivot in the mining strategy and the acceleration of a new mine plan to inform the way ahead.
I also want to make it clear that the orebody has not underperformed, rather production has not ramped up as fast and as cost effectively as planned.
Morila is a world-class gold deposit with extensive operational infrastructure and which has produced over 7.5 million ounces of gold and has a current resource of 2.5 million ounces.
This asset, together with our stake in Leo Lithium, provides a solid underpinning to the Company.”
And now he does a Runner .... unbelievable
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FFX Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
