Posted this some time back:The Malian Government are working...

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fooca

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31/10/22

09:01

Post #: 64487954
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Originally posted by WoodySpoon: ↑

If this is still losing money even after putting off capital works needed to keep going, then surely it's decision week for the new MD.

Either dispose of it, or shut it down and put Morilla A into admin. Can't keep losing money week after week, month after month.
Gold still not where it needs to be, or showing any signs it will get to a spot for this to have any prospect of being a going concern.
Hand it over to MEIM and Mali gov if they want to run it for job and contract creation. Or Morrila SA can sell the plant and pay of their creditors.

To again state the obvious it is absolutely pointless chasing 3 million ounces of gold (or a billion) if the cost to get it out of the ground is equal to, or greater than the price you get for it. Any plan to do so will see holders simply exit at any price on open having seen us lose all LLL value to current holders in a cash raise. ONLY chance I can see for this to stay under FFX is if the Mali Gov at least partially guarantee a loan from AfrexIm Bank (Pan - African export credit bank). Can't see it happening as Perth dunderheads wouldn't have thought to source funds from anywhere not Perth,

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Posted this some time back:
The Malian Government are working towards the country's return to the financial market of West African Monetary Union, though the issue of support and recovery bonds, 3 & 5 year bonds with interest rates of 6.22% & 6.32%.
https://www.jeuneafrique.com/1367648/economie/le-mali-de-retour-sur-le-marche-obligataire-une-operation-osee/

The loan from the 1992 Morila Establishment Convention, currently stands at circa $10M (inherited from acquisition) but from research it is opaque but it doesn't have a limit?
~ possible we could borrow against this as well?

Although as per the MTPP
~ this quarter will be status quo? with 32,000 oz production target but the indicated AISC is circa $1,600
~ Q1 2023 target 31,000 oz production, indicated AISC $1,450
~ Q2 2023 target 39,000 oz production, indicated AISC $1,200

Opinion: not all doom and gloom mate

cheers

Last edited by fooca: 31/10/22

FFX Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
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