Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-46

First 46 Last

Share
Profile

Follow
fooca

6,781 Posts.

4271

01/11/23

21:16

Post #: 70676746
Share

Originally posted by john_utah: ↑

@fooca. They're the ones who raised the "English isn't the first language" as an issue contributing to complexity and timeframes.

Now I'm no polyglot but I imagine if I was being paid $500k a year I'd do my best to make sure that the language barrier was not an issue even worth mentioning, let alone being raised as a major factor, in the single most important undertaking (and sole reason for my employment) in my tenure with my employee.

Its embarrassing they put that line into this announcement. Makes me think they honestly have no idea what they are doing, are trying to pad out something that is fairly straightforward but of which they have no real voice in.

Its clear as day that there was an environmental/cleanup liability attached to the closure of the mine which we inherited when we bought Morila. You just can't hand back the keys and abandon responsibilities that you're liable for.

Im happy to be proven incorrect but I highly doubt things are as complex as management are trying to make it out to be.

Expand

Totally agree, this announcement wasn't the first time they highlighted the language barrier.

As for clean up liabilities I would also agree if the Company were looking to close the mine, they have a buyer for it including the liabilities that includes the rehabilitation of the mine and surrounds.
Explains the "nominal fee" the are claiming the sale price to be.

cheers

FFX Price at posting: 20.0¢ Sentiment: None Disclosure: Held
5 Upvote

0 Great analysis

Reply

Top Stories

IVR

Investigator Resources hits 8m @ 1.06% copper on-site Stuart Shelf JV project acreage

AI stocks: What to expect in 2024-25

WC8

Leia pegmatite pulls up recoveries of 84% lithium for Wildcat in WA

BYH

Bryah gains $408K government rebate for work on copper target Narracoota

Talking the US election, the spectre of Trump and what's hot on the ASX200: Wealth Within