As we are on the cusp of mining the 1 Million ounce Indicated resource at our ground at Massigui and Morilla - page 5, 2.2 Million ounce resource estimate transforms Morilla ASX Announcement 8/02/21,
I wanted to reiterate somewhat how far the company has come in such a very short time.
The quarterly cash report as at 31 December 2020 had cash and bullion at $27.2 Million Australian dollars - which was left after the company raised a MASSIVE $73.8 Million dollars Australian and purchased Morilla for $41.4 Million dollars Australian - Quarterly activities report 31/12/2020
Since then a massive amount of work has been done by the company on infrastructure improvements at the main Morilla plant and the tailings dam. And if things can get even more exciting for shareholders, the satellites are very close to being mined with de watering complete at Ntiola and the 'new' Pit 5 having been drilled out and very close to being mined - among the work being completed to mine the satellites - pages 1 & 2 Update on activities at the Morilla gold mine ASX Announcement 12/03/21
I'm expecting the next quarterly cash flow to show cash on hand (and bullion) to be very similar the December report. The reason is that most, if not all of the progress and work carried out by FFX at Morilla and Massigui (from the Morilla purchase date) , HAS BEEN FROM THE CASH FLOW generated by the company at Morilla from the first day of ownership - 'These projects are being funded by cashflow from operations' - Page 1 (etc), Update on activities at the Morilla gold mine 12/03/21.
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