FFX Moving On -- Contractor - New Owner, page-13

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dazaliam

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09/09/23

12:52

Post #: 69795525
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Originally posted by WoodySpoon ↑

Bah, I think we all know why the DSO was halted at LLL, and it has everything to do with Mali Gov's self entitlement over Morilla, and nought to do with a study for DSO being done or not at LLL.
How much in taxes have they taken from Morilla over the last 20 something years? How much has the local community benefited?
Do they honestly think it's going to go on forever? Endlessly deep pockets from investors to plough into a loss making operation?

Can't they see not one gold mining company of any standing in the whole world values the project as viable, even at a price of zero dollars? If Mali want a rehab bond paid, wrap Morilla SA, sell the refurbed plant off and put the money to use in rehab. Nah, they want an endless money spinner - despite it being not economic, and for someone else to pay for it all. Dreamin.

Plant has to be worth $30 mill to an outfit like PDI with their new project near the Mali Guinea border.
FFX would have been better sacking the Morilla SA management, declaring Morilla SA bankruptcy and selling off the plant to cover the bond. We'd have been outta there by now with $35 mill in cash, and the LLL shareholding. Instead we've shafted ourselves and wiped $700 mill off LLL's value trying to satisfy those that simply cannot be.

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If it was simply about grabbing cash then they would have ammended kodals ML months ago to get them making cash asap but it does actually go deeper than that. Agree on Morila tho, that has been one big mismanaged stuff up. Wrap it up yestereday.

FFX Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
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FFX Moving On -- Contractor - New Owner, page-13

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