28/6/2022 Liz Wall and Naomi Scott resign. Announcement approved...

28/6/2022 Liz Wall and Naomi Scott resign. Announcement approved for release by Cowden, chairman

29/6/2022 Anderson resigns. Announcement approved by Board

4/7/2022 Operational Update Signed by Cowden, approved by Board


Firefinch Executive Chairman, Dr Alistair Cowden, said:
“A confluence of events, including cost inflation, ECOWAS sanctions and contractor performance has
resulted in underperformance at Morila. The Board has acted decisively to address this with
management changes, cost cutting, a pivot in the mining strategy and the acceleration of a new mine
plan to inform the way ahead. I also want to make it clear that the orebody has not underperformed,
rather production has not ramped up as fast and as cost effectively as planned. Morila is a world-class
gold deposit with extensive operational infrastructure and which has produced over 7.5 million ounces
of gold and has a current resource of 2.5 million ounces2
. This asset, together with our stake in Leo Lithium, provides a solid underpinning to the Company.”

11/7/2022 One week after the "Operational Update" and the chairman's assurances, he, Cowden resigns. Fraser new Chairman.
Approved by Board

An eventful couple of weeks. It doesn't sound like a happy, cohesive executive team.
Did the other director/s think they could do better and tap the chairman on the shoulder?
At the Sunday board meeting (June 27, 2022) did they push Anderson to substantiate the sucessfull operation of the mine?