Yes, he used to be at Taurus and it was his debt financing...

Yes, he used to be at Taurus and it was his debt financing expertise that FFX lauded when he was first appointed MD. Except that he then didn’t pursue any, instead cap raising at the drop of the hat, always saying it was to “ramp up” and inferring it was the last one and that they were fully funded to production (which they now clearly weren’t). It earned him the moniker “No Debt Mike”. On one occasion the morning financial press were reporting a term sheet circulating, prompting an ASX release by FFX a few hours later denying they had “a mandate” to raise, all the while still trading, only for a cap raise announcement to drop around 48 hours later! It was very slippery stuff imo. Retail over there were also frequently hooked in via the same sort of IR webinars that Investability does here - they were FFX’s original “investor relations” mob too.

It now seems that FFX limped to the demerger (of Leo Lithium), with Mike painting everything as being on track and rosy right up until the week LLL IPO’d. Then FFX’s final coup was a cap raise attempt at a circa ~70% discount, oddly pulled 5 minutes later, sending the stock into a suspension from which it never returned! It has been extraordinary to say the least.

Presumably Anderson helped Taurus to get its deal here. Maybe they were the rumoured financiers who ran the ruler over FFX too. The “Money of Mine” podcast guys have been seeking out Firefinch whistleblowers and digging in the dirt, and recently put this out (shared to FFX HC threads by another investor a couple of weeks ago):



One wonders if this was Taurus/Gordon Galt who took a detailed look at Morila on Anderson’s request for finance (to avoid another humiliating cap raise) and declined? If so, I guess he still owed them a deal, and so here we are now with them at AW1 in a royalty gig and him out on his ear. Good riddance imo.