Ganfeng does not appear to have acknowledged any recent communications from the government of Mali. This is what they say about the project in their most recent filing (an interim financial report dated September 28, 2023):
17. RELATED PARTY TRANSACTIONS (Continued) (c) Commitments with related parties (Continued) (iv) On 11 June 2021, GFL agreed to provide LMSA with a total amount of financial assistance not exceeding USD40,000,000 (debt facility), depending on the specific situation, to help LMSA develop and construct the Goulamina spodumene mine project. Financial assistance period: 5 years from the first provision of financial assistance, annual interest rate: SOFR+6.00%. As at 30 June 2023, LMSA has not made any withdrawals from GFL. To provide further support for Goulamina, GFL entered into an offtake agreement for up to 100% of spodumene concentrate product produced at Goulamina across the life of mine. GFL received offtake rights to 50% of the offtake from Stage 1 of Goulamina on FID. The remaining 50% of offtake from Stage 1 of Goulamina will be assigned to GFL, subject to the provision of the debt facility (condition satisfied) and Goulamina reaching commercial production within four years of FID (i.e. by 4 January 2026).
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