- FFX got a letter the same day as LLL. Disclosed it a fortnight later after social media pressure following a report from someone in Mali that a letter had been sent, but maintain it wasn't necessary to disclose.
- There has been a Commission established by Mali.
- FFX is "taking the opportunity in these meetings to clarify a number of legal matters".
- FFX advises us that LLL has felt a need to make representations to Mali that it has no affiliation with FFX.
- FFX reminds us it has no liability in Morila, and has written off its value, but nonetheless remains committed to selling the mine for a benefit of a range of stakeholders including employees, community and the Government. This process may go beyond the previously estimated Q3. FFX notes that if it eventually determines there is no reasonable prospect of selling off Morila "within a suitable timeframe", presumably for what has been previously advised as nominal consideration, then at that point it will commence the return of assets to shareholders (why not sooner - why is the return of assets connected with the work to sell Morila)
- FFX will advise more on or before September 30th
So what would explain the above, but must not be true given neither FFX nor LLL have disclosed this to be the case, is both companies receiving communication and/or letters to the effect of "For LLL to continue being successful in Mali you need to sort out the Morila issues"
But of course that can't be the case or we'd have been advised.
FFX got a letter the same day as LLL. Disclosed it a fortnight...
Add to My Watchlist
What is My Watchlist?