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Ann: Audit Update, page-19

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tara007

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30/03/24

19:18

Post #: 73126024
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Originally posted by manny100: ↑

Spot on.
The key is the possible contingent liability. Mali are making a claim. FFX says their legal advice is they have no debt to Mali. The Auditors will not sign off the Accounts until the possible contingent liability becomes firm no liability which requires a settlement/agreement with Mali.
Mali will not agree without an incentive to sign.
I agree with your view that sadly the $30 mill or a good part of it will be the incentive to get Mali to agree.
Hopefully the agreement leaves us with some sort of cash distribution. We can be sure the BOD will ensure there is enough to pay out what is owing to them.

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The only thing owed to the BOD is a rope!

FFX Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
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Ann: Audit Update, page-19

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