My positive slant on this is that Ganfeng had to get board approval for a possible transaction. That money is now available on call.
Meanwhile, LLL are finishing off the other side of a transaction. If this is not agreed, then the deal won’t proceed as the money from Ganfeng won’t be needed. The most obvious possible transaction involves FFX. Alternatively it may be something left field (eg. a new exploration permit). Either way, if the Ganfeng money were only needed for cost overruns or a financial buffer, you’d think they’d have already announced it, as it’s not a good look for the company otherwise.
So I’m hoping Simon, FFX and the Malian government sign off on a settlement in the coming days and at that point the Ganfeng deal will be activated and the entire transaction announced.
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