Australia's largest stock trading and investment forum Australia's #1 stock forum

FFX

0.00%

20.0¢ firefinch limited

We still have a responsibility for rehab costs if no new buyer...

First 34 Last

Share
Profile

Follow
dazaliam

6,129 Posts.

1985

17/08/24

15:38

Post #: 75251919
Share

Originally posted by WoodySpoon ↑

Surely given the delays stretching into years, the loss of effective control so long ago, the mothballed mine the company can have auditors write off Morilla completely without an official word from the Malian Junta? Just close the friggen shelf company in Jersey. Job done.

What does the Junta's stamp do for our financials? Does it mean potential creditors are prevented from claiming on us as Morilla SA still a going concern now belonging to someone else with assets that may be claimed?
If they are waiting for a new company to come aboard before the official gov sign off we'll be likely waiting forever. Nobody wanted it under the old code, they sure AF don't want it under the new one - even with gold at record highs, nobody is stupid enough to put money into it with the Junta looking to take half....then invent reasons to dig into whatever profit the new owner does take...

Auditors need to step up and write it off now IMO. Our legal position should be solid enough to enable this. Any claimant that says othewise can see us in an Australian court where they'd lose in record time. If they didn't lose in record time we'd have cause to sue our old lawyers for whatever they claim and then some for negligent legal advice previously given.

Expand

We still have a responsibility for rehab costs if no new buyer is found.

FFX Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

HVN

Consumers cautious according to Harvey Norman, as profit slumps 35% in FY24

PYC

PYC achieves key designation for drug aiming to treat blinding eye disease ADOA

CYM

WA Nifty copper project steps closer to restart with Cyprium Metals inking $40M loan from Glencore

EBR

EBR reaches review milestone for wireless cardiac pacing device

Consumer Staples Shine Amid Retail Slump – Key Stocks to Watch

TBN

Tamboran kicks off Shenandoah South pilot project with SS-2H well spud

VYS

Vysarn acquires Waste Water Services Pty Ltd for $7.5M; WWS to become subsidiary as expansion continues

Results wrap: Austal, TPG Telecom and Downer

LLC

Lendlease sells off US east coast construction operations in latest global divestment push

HLX

Helix investor makes partial takeover bid, proposing board changes