thus far, we know we have:A$35.8m in cashA$12.9m in LLL...

thus far, we know we have:
A$35.8m in cash
A$12.9m in LLL sale
us$3.6m in bullion
($us25m in vat)

totaling approx cash reserves of a$54m

but I think I’ve just found a few fairly immediate a$15.6m (perhaps slightly more with usd/aud conversion) to be added to the kitty with the lift of sanctions via VAT credit refund 2021.

2021 annual report released 31st of March 2022 has attached. Important to note that sanctions were implemented almost straight into the new year, and while we can’t 100% confirm at this state that we weren’t given the refund, going off quarterly cash reports and well as the likely immediate halt on vat credit refund.

Should I be correct, this would see us with almost a$70m in the bank. (I would imagine VAT refunds are a yearly thing, and as such, FFX would have additional VAT credit climbing for 2022 to be paid at a later point). I may be reading this wrong (very possible? Thoughts?






As I said above, I estimate FFX housing enough cash (with increase gold output and cash outflow reduction measures) to get us through Q3 and approx a substantial portion through Q4. We would never want to see ourself running down to the bone and would want a buffer at all times.

It’s through this I believe we would want enough cash to see us through q4 and Q1 2023 before seeing positive cash flow at some point q2 2023 (all my opinion). I would assume 30k+ oz q1 2023 is a very achievable target… I am happy n’toila is mining is ceasing, closing the satellites and more ore direct from the superpit will see a grade increase of 1-1.5gt which is a significant step up on current.