@fooca Auditors, previously qualified the accounts regarding the...

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15/02/24

11:31

Post #: 72420025
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Originally posted by fooca ↑

I take it the board are to busy to answer emails, Michael Weir from Citadel Magnus has replied;
Surprised they are still engaging a public relations company?

Dear Frank (being Franky1)

Thank you for your email. I also confirm the Company has received your letter via registered mail.

The Company is aware of its reporting and other regulatory requirements. However, I draw your attention to the section in the most recent Quarterly Activity report regarding the audit on the half-year review and interim accounts.

The Quarterly stated the Company was working with its auditors on the accounts, which has substantially completed but went on to note "finalisation of the half-year review and interim accounts is subject to an outcome of the discussions with Government regarding the Company's plans to dispose of its interest in Morila SA."
~ which is exactly what was stated in the Audit Update announcement 4th October 2023

As you are aware discussions with the Government of Mali are continuing and we are not able to provide a specific timeframe for conclusion.

~ being aware of reporting and other regulatory requirements is different to practicing those reporting and obligations.
~ also not surprised there was a lack of acknowledgement on the other items in the letter.

cheers

I really do need an accountant type person to explain why something we have written down to nil value (Morila) in the previous year (2022) impacts the reporting of financial reports 2 periods later?
~ will that mean that the 2022 Financial report presented to the AGM will need to be amended?

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@fooca

Auditors, previously qualified the accounts regarding the Mali situation. Auditors now have more information the directors are not willing to release.

... how long is a piece of string?

FFX Price at posting: 20.0¢ Sentiment: None Disclosure: Held
9 Upvote

2 Great analysis

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