BullishBearish, I think you are close to the truth, when saying the money was probably laundered through Malian contracting companies. It's an interesting theory, and it would be fascinating to know who owns the contracting companies, and which ones were involved (if any).
I remember seeing a photo posted by someone on another social media platform of a person associated with FFX in Mali, in a hotel room in Switzerland, living it up in 5 star comfort, with a big smile, and my concerns and worries for the company grew considerably after seeing this.
Yes 52570, I agree with you. I also wonder what FFX intended to do with the money if they were permitted to sell all the LLL shares that are in escrow. Would that money also just disappear down an electronic hole in Mali, also laundered through contracting companies banking software.
Personally, I'd absolutely love to see the accounting books held in Mali by Morila S.A. and do an audit and reconciliation, or send the best forensic accountant in the world to analyze them.
If we'd won the 249D, then I'd have suggested FFX takes back full ownership of Morila S.A. and puts the mine on care and maintenance, and then in full control, send the best forensic accountants in the world to Mali to claim the books and analyze them. We may have then been able to discover what Swiss or Cayman Island bank accounts the money ended up in. Somehow though, I don't see the current board doing this.
I know a forensic accountant, a good old mate from way back in my university days. He is also a hell of a good computer hacker. We both did computer science at UWA together, but he went over to the dark-side. The interesting thing about some of the forensic software he runs, some of which he got via the dark web, is that it can root out bytes written to hard disks that were always meant to never be seen. It's fascinating.
Were FFX told the main pit was full of tailings when they bought the mine, or did they have blinkers on and just not do sufficient due diligence? Were they that innocent and naive? Maybe. It's possible.
I have a sense that the Mali government commission won't find much truth, because public servants very rarely have access to what is really going on, or understand it, and most don't care, they just want their government wage.
In Australia, the Chinese launder hundreds of millions of dollar every year through the casinos and other institutions, with impunity mostly, they put it into real estate, and the Australian government public servants and bureaucrats do very little to control it, because they can't, and often on a personal level just aren't that interesting. The occasional story comes up with they sprout they've made a find, but it's rare. So I would expect that Mali is no different.
Money disappears all the time, especially when it's being transferred across national borders, and just about every company and clandestine organization in the world does it to some degree, including the Vatican bank. It's sad to know, but it's true.
Someone is sipping champagne in a 5 star hotel, and driving their Lamborghini, or sunning themselves on a Cayman beach while being served expensive canapes by servants and beach babes, and they just sit back and smile and hold their drinks up to the fading sun and say "thank you Firefinch, you suckers and dopes".
I think this has been one of the great "Stings" on the ASX of the 21st century.
I'm waiting for the movie to be made. I believe they've approached Brad Pitt to play Cowden ha ha ...., but who plays Anderson?
Gw
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