Ann: Intention to Demerge Goulamina Lithium Project, page-142

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FIREFINCH (ASX:FFX)

Gold focused explorer will demerge its advanced Goulamina lithium project in Mali into a separate ASX listed company in 2021 “to realise its full value”.

Results of a Definitive Feasibility Study (DFS) in October 2020, placed Goulamina among the world’s highest quality and largest undeveloped lithium deposits, Firefinch says.

A sample of ASX lithium companies is up approximately 260 per cent since 30 October 2020, it says.

“The creation of a new lithium focussed company in a strong lithium market is the optimal way to realise the value for shareholders,” Firefinch says.

“Since completion of the Goulamina DFS, there have been unsolicited expressions of interest in Goulamina relating to partnership and offtake opportunities.

“A number of these parties are currently in a data room and in preliminary discussions with the Company – these will be progressed in parallel with the proposed demerger.”

Firefinch – formerly Mali Lithium, formerly Birimian – was serious about developing Goulamina before ongoing weak sentiment in the battery metals space saw them pivot to gold.