Just a thought that sits somewhere between "nothing to worry here, just a DSO tax" and "why aren't LLL telling us more".
The 2019 Mali Mining Code (translated extract below) requires all holders of a Large Mine Exploitation Permit (which I assume to be the permit we have) to commence mining within three years of grant of the permit, otherwise they need to lodge a new feasibility study. They are also required to inform the Minister of Mines before mining commencement and advise on any parameters that have changed since the feasibility study used for the permit. Though the Goulamina permit was granted under the prior 2012 Mining Code, the 2019 Code supersedes (and indeed outlines additional requirements for existing holders such as lodgement of the new requirement for a community development plan, which I assume FFX/LLL were well across).
The permit for Goulamina was announced as granted 27 August 2019. On 20 June 2023 the Fastmarkets presentation announces mining has commenced in preparation for DSO. That's nearly four years.
Presumably given the expertise involved LLL suitably advised the Ministry before commencing mining, but there have been a number of changes since the originally lodged feasibility study (which as far as I can tell was the preliminary feasibility study: the DFS was announced on 20 Oct 2020 with subsequent updates), and it has been over three years since the permit was granted, so perhaps either of these items raised the question of a need for an updated feasibility study to be provided in light of the DSO mining commencement.
(20min delay)