What are we all expecting?
Considering that LLL has gone into another suspension since the last snippet of information came out from the Company, I will be expecting very little;
We will (should) get the promised update to the progress and/or finalisation of the:
(a) "good faith" discussions
~ if these are still ongoing then these discussions have/had a bit more meat on the bone than what us shareholders have been told! and have gone passed being "good faith" and IMO the Company should actually disclose what the Governments concerns and demands are?
They Company cannot hide behind ongoing discussions with the Government under the veil of "confidentiality" as they have demonstrated that they will disclose if it suits them.
~
at the AGM on the 31st May 2023, they were adamant that the Company was not receiving
any official correspondence from the Government, but they had heard of the Bamanko Court case being extended, BUT BUT!!!!! here we are ...... I actually don't believe anything that comes out of their mouths.
(b) some progress on the "bidder" for the Morila mine, bearing in mind that FFX had one ready to sign before the Government intervened, wanting their preferred contractor.
@WoodySpoon if the company's bidder was going to take on the Morila mine, it would also have meant they were willing to accept the provisions for the rehabilitation costs when the Mine eventually ceases operations.
Same as FFX did when we took over the Mine from Barrick/Anglo, the pre paying or pay as you go
environment bond has only come into effect in the 2023 Mining Code?
The issue of the tailings in the MSP; were the Company executives of FFX during the negotiating of the Contract of Sale made aware that this practice had been taking place? Remembering that the current Manager of the Mine, was also the Manager of the Mine under the Barrick regime and would have been aware of the tailings being put in the MSP. Also remember, the Mine was going to be shut down until the "White Knights of the FFX round table" decided it was the deal of the Century. So after months and months of "back slapping" by the current Mine Manager, and staff and anyone else from the mine that has decided to open a LinkdIn account and tell all and sundry how well the mine was going without Firefinch!
Right up until they ran out of the easy picking gold and now have to actually put some effort into the mining part.
(c) Corporate Transaction, surely any potential bidder has ran for the hills? and IMO, this should be finally put to bed as the Company has previously stated "it was to be completed in a timely manner? Although, the have already provided a reason for the timeline being extended with the "good faith" discussions currently taking place.
~ any Scheme of Arrangement proposed will almost line up with the LLL share escrow period.
(d) 1/2 Yearly Financials are due
(e) Extension of Voluntary Suspenion
We have to wait another 4 weeks before we are enlightened on how many hours @$250/hr or days @ $2,000 / day we have been invoiced for.
They are in no hurry to get squat done .. ... ..
Personal opinion, I think the Mining companies present and future in Mali have a lot to thank the Executives, KMP's and the BOD of Firefinch Limited for the inclusions in the new 2023 Mining Code!!
cheers
ps
@WoodySpoon re: NSR for LOM, if Firefinch is wound up where are these royalties going to be paid to?
