Firefinch & GANFENG, page-33

I'm not up to date on the specifics, like where is the US$130 mill going, into capex for development, or to FFX for straight sale? I always thought it would go into capex, but the details around $40 mill debt finance to be provided and the proviso of more to be arranged have me a bit confused. $130 plus $40 sounds about right for capex and working cap.

Is this "possibility of more debt finance surrounding expansion of phase one capacity then?

I guess we'll find out more tomorrow or later this week.

Source on the shelf SPV company owning 80%?
Does this mean the Mali Gov's ten % is contained in the other 20% and FFX retaining 10%? Or Mali Gov buying into their extra 10% now? Perhaps this 10% after Mali get their free carried share is the percentage the Dr mentioned the company would retain - and sell at a later date (to Mali if they opt for that).

The deal itself is a great one for GF, lets face it. But it puts a value of US$130 million on our half(40%? and more on the other 10% FFX keep). Plus the value will head north fairly rapidly with offtake and development assured.

Pleased for LT shareholders, and pleased for the Malians who will benefit from this project too.