FFX 0.00% 20.0¢ firefinch limited

Ann: Government of Mali - Update, page-50

  1. MM0
    232 Posts.
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    Sure, if you accept the Board position that FFX will not have to take on the $190m of Morila liabilities noted in the Annual Report.

    The Auditor provided qualifications and commentary in that regard that this created a "material uncertainty" that "may cast significant doubt on the Group's ability to continue as a going concern". The Auditor also noted that FFX has been unable to access Morila financial records since the loss of control event on 3 November 2022 - okay fair enough. However, the Auditor also noted they could not find "sufficient appropriate audit evidence" regarding the financials outlined for Morila for the year up to 3 November either That seems unusual.

    The Director's Report recognised that the Auditor's Report "highlights the existence of a material uncertainty that may case significant doubt about the Group's ability to continue as a going concern".

    Regarding the commenter you referred to mentioning pre-demerger, I would guess they meant to ask how did FFX not know that things in Morila were unsustainable prior to receiving the 24 June 2022 report which outlined that Morila performance had dipped compared to the report received a week prior on 17 June 2022, i.e. how did a performance dip on a weekly report make the difference between being able to sustain Morila and having to write it off.


    https://hotcopper.com.au/data/attachments/5532/5532682-5bb8ec992f5aa6c114819c13ca795b5d.jpg

    https://hotcopper.com.au/data/attachments/5532/5532686-2bc35b644424c3070781452fb57cbbeb.jpg

    https://hotcopper.com.au/data/attachments/5532/5532699-e35d06f3f6efa2b152f098681bfa328e.jpg




    Last edited by MM0: 23/08/23
 
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