Given that the "I have heard" whispers "pssst pssst" were around back in May, the company is now confirming there is another bidder. * this was asked at the AGM, but was buried in the usual Director speak and answered without actually answering!
It will come down to (opinion) between, ~ the government's preferred contractor, being the state owned SOREM Mali SA or; ~ the Company's preferred bidder Corica Mali SA ~ neither has been substantiated, (obviously) but going on the premise that the Company has recently addressed incorrect information on social media outlets this has not been refuted, .
The pros, cons and/or no idea:
SOREM SA: -- formed?/announced?/in the news from around October 2022 http://news.abamako.com/h/277327.html ~ how has the state structured SOREM? ~ do they actually have the right and/or any expertise? ~ do they have the right or any equipment? ~ I mean it is a great incentive for the State, but they have to be able to do the job? maybe a little less sipping of Mbege or palm wine! == although my care factor is zero as to who the owner will be, but if it comes at too much of a cost to shareholders if (is there any doubt?) that the company is negotiated into accepting the State preferred bidder, then, well, {insert flipping the bird emoticon here} ~ IMO, the government won't want to form any JV with a contractor, defeats the purpose of establishing the state run company to maximise revenue.
Corica Mali: -- "purported" to be the preferred bidder https://corica.com/about/ ~ well credentialed, capable, have the equipment, can do all the required activities including drilling / blasting, etc. ~ IMO they were the 3rd contractor engaged during the ECOWAS sanctions to mitigate any impact to mining activities the sanctions could have, as per the aware letter - not affected by the border restrictions of ECOWAS sanctions.
EGTF: could be the elephant in the room? -- they also fit the description of being a West African company as per the company announcements. -- their contract was extended to April 2023, I will make an assumption that they were/are the contractors still operating at the mine? https://egtf-mali.com/ * they have the equipment, the expertise & know the Morila mine and tenements well. * also proficient in rehabilitation work. * they were the contractors when BGS entered into the toll/royalty agreement with Randgold. ~ also Firefinch were impressed with their work and extended their initial contract for 12 months? * combination of drilling and blasting capabilities
Inter-Mining Services: - I think they would want to keep as far away as possible from Morila after their JV jaunt with Mota-Engil? https://inter-mining.com/ ~ do have the credentials working at big mining sites
~ Inter Mining Services along with Mota-Engil (Joint Venture partners) were the contractors that the company were suggesting underperformed and were initiating commercial action in accordance with the mining contract! https://announcements.asx.com.au/asxpdf/20220712/pdf/45bscyf0xb3c4k.pdf
cheers
I do love the statement in the 3rd August announcement: ~ "The preferred buyer for Firefinch's interest in Morila SA remains the West African contracting company referred to in the Company's 30th June announcement." -- I thought, sh%t I missed something, I don't remember them announcing the contractor!
Lol lol lol - so we trundle back through the announcements to 30th June, ~ "Firefinch has selected a substantive West Africa mining contractor (Proposed Purchaser) as the preferred bidder out of the parties ........(sic)." ~ "The proposed purchaser is well placed as a significant and experienced mining contractor in the region."
cheers
The debt/future liabilities to MEIM is not transparent, as in what is debt and what are future liabilities??
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(20min delay)