I get where you are coming from, with what has transpired and with the basic demise of Firefinch most want it to be wrapped up without further delays and move on or at least have the resumption of trading so individuals can make their own decisions.
IMO, the company will not resume trading on the ASX for some time, (I estimate circa mid May) giving they have given themselves a time frame of completing the strategic review and reporting to shareholders by the end of March.
Bear in mind also, the company is currently in suspension mainly for a breech of ASX listing rule 17.5 for failure to comply with periodic reporting obligations being the "Interim Financial Accounts" for period ending 30th June 2022. The company has indicated the report is expected to be completed and published in February after which it will release the full year accounts expected to be completed and published by the end of March.
Dependent on the strategic review findings and the release of the periodic reports, then and only then will the company be able to engage with the ASX for a plan moving forward to be re-admitted to quotation. It is also a possibility that depending on the findings of the review, shareholder approval may be needed to enter into and/or initiate any third party agreements, and if there are any board recommendations, which would mean that there could be an additional 28 days (minimum to call a EGM) to add to the time line.
I am not seeking any sort of justice as it would be futile exercise to firstly categorise what/or if there are any specific and/or a combination of failures that were contributing factors to the performance and ultimate denigration of shareholders wealth and it would be difficult to provide enough evidence to support any claims that has been limited by (IMO) ambiguous company announcements and/or unpublished reports (1/2 yearly accounts) and/or a lack of information that in the course of being the operator of the Morila Mine and by receiving weekly/fortnightly and/or monthly reports from the mine management that are not available to shareholders as being internal reports and not published in either announcements on the ASX platform or contained in the Annual Report/s.
There comes a point where you stop giving a company or board/management time to act accordingly in the best interests of shareholders in a manner which is documented in the company's charter and the governance, shareholder communications and risk management policies.
I made allowances for the turmoil following the withdrawal of production guidance, the resignations and the board being thrown into roles they were not accustomed to and the appointment of Lowe as managing director to get their acts together.
The tipping point why I will submit reports to ASIC and AFCA, this current board lead by Fraser (Chairman) were instrumental in compiling, sourcing support with large stake holders, brokers & lead managers to provide a funding option re: the "Recapitalisation Package" that not only had a 187% dilution impact to the current SOI but was based on $0.06 per share, an 87% discountto the last trading share price of $0.20 per share.
~ the package was announced on the 21st September and ultimately withdrawn 5 days later on the 26th September with the company citing recent downward movements in the US$ POG and the USD/AUD exchange rate.
For Fraser (Chairman's Letter to Shareholders) to then quote: "Through this process, it became clear that not one of these options was going to be in thebest interests of shareholdersto retain value, and, in particular, it would have required ahighly dilutive equity raising"
Point 1: after Fraser's comments in his chairman's letter, the Recapitalisation Package by default is now deemed (IMO) as not being in the best interests of shareholders is it not?
Point 2: As per the annual report and the Morila Convention loan, IMO the company after recognising a risk, failed to act and/or implement change to reduce or mitigate the impact of the known risk by not registering the risk as per the Company's Risk Management Policy and acting according to the procedure as described in the policy.
Identified Risk: Commodities - Price of Gold
~ from the annual report: The groups operating revenues are sourced from the sale of gold and to a much lesser degree, silver. These commodities are priced by external markets which are subject to fluctuation.
~ from the annual report: The group did not enter into any hedging contracts during the year to manage its commodity price risks!
~ from the withdrawal of the Recapitalisation Package: downward movement in the POG was a contributing factor to the withdrawal.
IMO and solely on my interpretation of the Morila Convention loan that Firefinch inherited on the acquisition of the Morila Gold mine, gold hedging was a condition under clauses 8.1.10 and 9.1.7 loan agreement and the loan hedging policy.
Given that I opine that at the earliest it will be mid May before being readmitted to quotation, submitting a report and if there is any subsequent follow up investigation/s be either and/or both the ASIC and AFAC would fall within my predicted mid May time line.
cheers
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