March 21 (Reuters) - Firefinch Ltd (FFX) : RECEIVED A NUMBER OF...

March 21 (Reuters) - Firefinch Ltd (FFX) :

• RECEIVED A NUMBER OF NON-BINDING INDICATIVE PROPOSALS
• CONSIDERS THAT THESE PROPOSALS ARE SUFFICIENTLY ROBUST TO WARRANT CONTINUED NEGOTIATION AND DISCUSSION
• OF VIEW THERE IS REASONABLE POTENTIAL FOR BINDING AGREEMENT TO BE REACHED WITH SUCCESSFUL BIDDER
• NO GUARANTEE THAT A DEFINITIVE TRANSACTION WILL BE AGREED WITH RELEVANT BIDDER
• BOARD WILL UPDATE SHAREHOLDERS IN Q2 CY23 REGARDING PROGRESS TOWARDS BINDING TRANSACTION
• IF NO DEAL MATERIALISES, WILL LOOK TO RETURN MAJORITY OF CURRENT CASH TO FFX SHAREHOLDERS
• IN ADVANCED DISCUSSIONS RELATING TO POTENTIAL DEAL FOR SALE OF ITS 80% INTEREST IN MORILA SA FOR NOMINAL CONSIDERATION
• OVER NEXT QUARTER, BOARD'S OBJECTIVES WILL REMAIN DELIVERING LIQUIDITY & VALUE FOR SHAREHOLDERS
• OVERHEAD COSTS HAVE BEEN DRASTICALLY REDUCED BUT CONTINUED TO INCUR COSTS ASSOCIATED WITH DISPOSAL OF MORILA