Firefinch Limited (ASX: FFX) (Firefinch or the Company) is pleased to advise that it has exceeded its
production guidance with 4,228 ounces of gold produced from processing tailings in December 20201
.
A total of 7,683 ounces have been produced since the Company acquired ownership of the Morila
Gold Mine on 11 November 2020.
The Company reaffirms a production target of 10,000 to 10,500 ounces of gold for Q1 2021 (refer ASX
Announcement 7 September 2020).
Cash and Gold2 on hand is A$33 million3 at 31 December 2020.
Operational performance has consistently delivered above forecast, and safely. We continue to
progress mine planning including evaluating potential new ore feeds and plant and infrastructure
refurbishment, costings and works at the Morila Gold Main Pit.
Two reverse circulation drill rigs are on site, undertaking infill drilling at Morila’s satellite resources to
improve confidence in planned open pits through increased data coverage.
Contemporaneously, we are actively progressing options to advance and realise the value of our
world-class Goulamina Lithium Project.
A detailed update will be provided in the upcoming Quarterly Report. An updated Mineral Resource
Estimate for the Morila deposit is expected in coming weeks.
Executive Chairman of Firefinch, Dr Alistair Cowden, commented:
“We are delighted with the gold production and overall progress at Morila. In just two months the
Firefinch team have safely achieved above forecast production. Significant progress has been made
on mine plans, costs and timelines and we very much look forward to updating our shareholders
further as plans are finalised.
“At the same time, we are in a very fortunate position with our Goulamina lithium asset. Recent
strong interest in lithium equities has improved the standing of the Goulamina Lithium Project, one
of the world’s best undeveloped and uncommitted lithium assets. We thank our shareholders for
their ongoing support and look forward to updating the market in the coming weeks.”
This announcement has been approved for release to the ASX by the Board.
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Almost double the projected gold mined. Exceeding expectations so much.. if they keep this up $1b here we come.
Good as gold. I can here those drill rigs humming from here.
Should go a very long way to reassuring investors that firefinch is the real deal and morilla the gorilla has been angrily awoken.