There are some positives from this announcement:From the...

There are some positives from this announcement:

From the Quarterly for the period ending 31st December 2023;
The Company continues to work closely with its Auditors, PricewaterhouseCoopers ("PwC"), on the half-year review and the interim accounts which have been substantially completed. Finalisation of the half-year review and the interim accounts is subject to an outcome of the discussions with the Government regarding the Company's plans to dispose of its interest in Morila SA.

From this Quarterly;

Audit

The Company continues to work closely with its Auditors, PricewaterhouseCoopers ("PwC"), on the half-year review and the interim accounts, together with the annual financial statements. The Company anticipates these documents to be lodged imminently.

An element of confidence? Is the end nearer than we think?

Negatives:
Leaky ship?
~ Recent posts now highlighting concerns that the LLL shares will be used as funds for a settlement to the Mali Government?

The historic tax payment certainly raises the eyebrows, how did this slip through given that Michael Weir in nearly all correspondence iterates that the board are aware of all their legal, financial and reporting responsibilities.

@GARETH78 agree with the ATO ruling per se, the excess cash that is a requirement to maintain the entity until its either liquidated (post delisting) or offered as carrot for a backdoor listing with $33.27 million on hand, a very large portion of that should have already been returned or further advanced to be returned. Just an opinion, but $20 million could have been returned with the remainder (a generous amount) being set aside to operate the company and pay the bills. Maybe the bulk of the cash on hand will be part of a resolution at the up coming (when announced) AGM.

As for they can't make a ruling on the LLL shares, I tend to agree but how hard or how much engagement have they had with the ATO? Given that they couldn't get the financials out because the were busy in discussions with the Mali Government!

@manny100
Just a point of correction, LLL have US$65 million (if required?) in two tranches the first tranche being US$34.8 million and also bear in mind that these amounts are not indicative of how much (if any) funds will be required for a settlement. The second tranche is only paid to LLL if the government is still in good standing with LLL, as we have already potentially paid for a settlement the tranche 2 funds will go towards LLL's share of the loan for the Mali Government to take up the additional 10% equity in the project?

Increase in Directors Fees for the quarter $102,000 versus last quarter $73,000, Fraser might be working more than his Director allowance and is on the higher rate?

cheers