Firefinch & GANFENG, page-97

Another Tuesday and another company making announcement!

Kudos to one of our fellow LT holders @boy1 for calling it, well done mate.

How good is our management team, to pull off one transformational transaction when we are on our knees is unbelievable but to pull off a 2nd, all in the space of about 6 months, really is the the stuff of legends and dreams.

It would have been nice for our team to be first to announce but the world doesn't stop for Oz.

So seems the deal is for US$130m cash to FFX for 40% of the Goulamina Project + a loan up to US$40m + 50% off product, if they help with additional funding for capex then they can take 100% of stage 1 product. The important part of this is they reference "stage 1" seems there are plans for a "stage 2" perhaps 4 or 5mtpa and/or secondary processing facility close by?

So my take is as @ozblue pointed out, they will still need to kick in their share of capex which would be 50%, we kick in the other 50%, either with cash from the US$130 or debt or a mix, I suspect a mix as they will want to keep some decent cash for expansion plans with Morila or other gold acquisitions. Mali Govt. get 10% and we (FFX) retain 10% for future equity or if Mali Govt' want to but it off us.

Anyways, I didnt get much sleep last night, and suspect not going to be very productive today, cant wait for the announcement to drop.

Congrats to all holders, its been a long and stressful ride at times but certainly been worth the wait.

Best wishes to all fellow holders.