Australia's largest stock trading and investment forum Australia's #1 stock forum

FFX

Click for more information

0.00%

20.0¢ firefinch limited

Yep I'm which case everything will be lost

First 18 Last

Share
Profile

Follow
intelseb

3,353 Posts.

185

04/05/24

17:23

Post #: 73666486
Share

Originally posted by Gwaihir: ↑

As Barrick have stated in their release and webinar, and in the financials, they have been ordered to replace Western staff by training up Malians to take over all those jobs and run the gold plant.

Companies like Leo have also been ordered to do the same.

Barrick paid an additional $370 million in taxes last year, on no production increase.

And the Russians are building, for free, the Malians a gold refinery in Bamako.

If you read between the lines, this looks like it will eventually add up to only one (1) conclusion.

That is the nationalization of all mines in Mali by the government, once all the Western companies have obeyed the new laws and trained all the Malians up in running all the mines.

It may take 2 or 3 years, but this seems inevitable to me now.

And it's not unusual. For example, Mexico has nationalized all Lithium mines, and Niger has nationalized all oil and gas projects, and there are many other examples now of similar resource nationalism sweeping continents like Africa and South America.

This does not bode well for Barrick or Leo, or the other gold miners in Mali.

The only winners from this will be the Junta and Wagner.

Gw

Expand

Yep I'm which case everything will be lost

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

0 Great analysis

Reply

Top Stories

AL8

From the Floor question: "What is the focus of AL8 and how is management going to attract shareholders to the registry?" | Alderan Resources

CC9

The USA's dominance requires a domestic lithium supply chain. Chariot stands to benefit

SXG

From the Floor question: "Could gold be manufactured in a lab like diamonds?"

Chris Judd's Talk Ya Book: Tracking Life360 on a journey to the stars

FEX

From the Floor question: "When will FEX start using rail to augment & de-risk their haulage solution?" | Fenix Resources

First 18 Last

Add FFX (ASX) to my watchlist

SPONSORED BY