On basic legal principles, if the Malian Government believe...

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13/02/24

02:22

Post #: 72370554
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Originally posted by MtnMusic: ↑

Not so fast cowboy!
Our last ASX ann was 19 Jan:

Might take a little longer...
Resolving:
- Import taxes
- Mali govt %
- Ongoing duties/royalties
- Mining Code clarification
- Transport route/ore stockpiling
- Construction permits
- Construction progress
- FFX *

As @azoic and @Red Baron have intimated, perhaps both parties are working towards our situation being resolved with both the company and Mali benefitting, under trying conditions for both.

My conversation with Mr Hay at last years AGM to me demonstrated the company's care for the local population was genuine from the top down, and I will trust that this has percolated through at the local level up to the junta decision makers.

Obviously many moving pieces in play with the recent ECOWAS decision, so I'm happy for the plant to be completed and undergoing commissioning before trading again with clarity around all of the above.

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On basic legal principles, if the Malian Government believe Firefinch owes big money, it would seek to exercise security over Firefinch remaining assets.

If Leo are in the alternative held over the barrel by Mali to in effect guarantee a liability of Firefinch, notwithstanding that legally any such claim is tenuous at best, then surely it would follow that the only valuable asset of Firefinch (being its shareholding in Leo) should effectively be made available to Leo (cancellable in part?) as a form of indemnity to Leo?

Will be very interesting to see this upcoming announcement.

LLL Price at posting: 50.5¢ Sentiment: Buy Disclosure: Held
6 Upvote

0 Great analysis

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