Morila Mine vs FFX Management - 12 months on, page-5

Kraken, I think you may be correct. The problem was the lack of oversight by FFX management, because not only was it completely incompetent, but none of the executives wanted to actually go and live in Mali at the mine. Unfortunately, I believe Leo is having the same problem. If you have a mine in Africa, you need a great many executive managers living in the country, this FIFO rubbish from Perth to Bamako and then Morila just does not work. Leo have been struggling with this for some time, and if they don't wake up then they'll go under to. They just advertised for a human resource executive which said as FIFO - it's a load of old tosh, it just won't work, and they just don't seem to understand, it's common sense, but they seem to be in some state of complete denial, almost like an emu with it's head in the sand thinking that no-one can see it. I'm amazed at their complete naivety. I think you are correct, it was what killed FFX, the executives of Morila S.A. being almost all Malian in Bamako were completely incompetent. They had a couple gold mining professional engineers from South Africa who should have been given control of the mine, but the complete arrogance of pure stupidity and ego of FFX directors would not hear of that, so then they just cut and run when completely overwhelmed by their own incompetence. The only Australian mining companies who have been successful in Africa have had large numbers of ex-pat mining executives and engineers actually living permanently in Africa (except for their annual holidays). From what I can see, Leo also don't seem to understand this very basic fact.

Gw