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

FFX

Click for more information

0.00%

20.0¢ firefinch limited

Ann: Response to ASX Aware Query, page-90

First 90 Last

Share
Profile

Follow
52570

4,752 Posts.

514

12/07/22

18:59

Post #: 62501713
Share

Originally posted by chrisman: ↑

What a load of horseshit. A company doesn't completely withdraw its annual guidance because it missed by 3k ounces in one quarter due to issues which no longer exist (sanctions are lifted, and delayed equipment is arriving at site according to the recent update).

"...the actions taken to improve FFX’s working capital would mean that FFX’s Calendar Year Production Target would not be met."

^ This is the telling statement imo. The guidance was withdrawn because they are implementing cost cutting, meaning their spending is out of control. One can only assume they didn't plan their capital allocation correctly and, consequently, they will run out of money if the continue spending in line with the existing plan; nothing to do with ECOWAS sanctions or delayed equipment. This smacks of poor planning and execution by management, and poor oversight from the board.

Expand

Er...regarding the spending- that is what i posted. So not horseshit from my end.

And I did post that in hindsight things maybe could have been done differently.

This is IMO

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

0 Great analysis

Reply

Top Stories

MIN

Movers and Shakers: Zip Co, MinRes, Kuniko, more – The week's top ASX gainers

Week 44 Wrap: Relatively boring week ahead of US election; HotCopper's most watched; Oz inflation at 3.5%

Bitcoin hits fresh record as instos pile into BTC ETFs – and Trump helps, too

Palladium's the newest geopolitical hot commodity. But ASX exposure is limited

MIN

Ellison slapped with $20M sanction from MinRes but will stay on as leader – for now

There are more pages in this discussion • 285 more messages in this thread...

First 90 Last

Add FFX (ASX) to my watchlist