Timeline of Events
Past Events:
- June 2022: Leo Lithium Limited demerged from Firefinch Limited.
- July 2022: Firefinch sold down its equity stake in Leo Lithium from 20% to 17.6%.
- October 2022 - January 2023: Firefinch released updates on its interim accounts and quarterly activity reports,indicating delays due to ongoing discussions with the Government of Mali regarding the disposal of its interest in Morila SA.
- March 2024: Firefinch provided another audit update, stating further delays due to discussions with the Government of Mali.
- April 2024: Firefinch anticipated lodging its financial documents imminently.
- May 2024:
- Firefinch reached a settlement with the Government of Mali, agreeing to transfer its shares in Morila SA and mining titles for US$1 each.
- Firefinch released a market update indicating potential deferred tax liabilities and the need for clarity on loan balances with Morila SA to finalize its accounts.
- Firefinch received an arbitration notice from EGTF.
- June 2024:
- Firefinch was removed from the official list of the ASX.
- An official press release announced the conclusion of an agreement for the transfer of Morila SA's assets and liabilities with Firefinch.
- July 2024: Firefinch shareholders received a letter with their share certificates, stating the company is finalizing its overdue financial accounts and will call an Annual General Meeting once completed.
Future Events:
- Finalization of overdue financial accounts and audit.
- Annual General Meeting to vote on the sale of Morila SA and other matters.
- Resolution of the arbitration case with EGTF.
- Distribution of Leo Lithium shares to Firefinch shareholders, subject to a favorable tax ruling and resolution of the arbitration case.
- Potential return of surplus capital to shareholders after finalizing all activities and winding up.