On 3 rd August 2023, FFX announced that it had received a letter from the Minister of Mines, Mali (“Letter”). The Letter was received on 18th July 2023 and dated 17th July 2023 which followed on from previous correspondence between the Company and the Government. As previously announced, the
Letter stated that the Government will not approve any deed of sale of Firefinch’s interest in Morila SA unless Firefinch resolves issues relating to the Morila Gold Mine. The issues listed in the Letter included Morila SA’s financial liabilities and environmental impact at the Morila Gold Mine. Previous correspondence from the Government included some of these issues and also raised questions regarding the tailings deposited in the mine by the previous owner of the Morila Gold Mine and community projects. Firefinch provided a fulsome response in writing to the issues raised by the government.
https://hotcopper.com.au/posts/69503266/single
Further, if you review FFX financials, you will see provision for Rehabilitation costs on the mine - from memory, it was circa $20M plus.
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Ann: FFX: Settlement with Govt of Mali & Agreement -Leo & Ganfeng, page-24
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