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20.0¢ firefinch limited

I really appreciate the work you've all put into doing this....

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JohnMaz

255 Posts.

31

29/03/24

06:55

Post #: 73114850
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Originally posted by fooca: ↑

Another session of collaborations between Franky1, Avo and myself;

Letter 2 has been dispatched in the same manner as previous.

Dear Sirs,

We refer to the announcement provided on the 22/01/2024 and seek clarification regardingthe following:

1: Have discussions with "interested parties" to the Corporate Transaction beenterminated or have they been paused due to delays pending the outcome of negotiationswith the Malian Government?

1(a) If the discussions are only paused, is it the Company's intention to re-engagewith the current interested parties after the outcome of negotiations with the MalianGovernment?

1(b) In the circumstance that the Corporate Transaction process has been terminatedwith no binding agreement, in accordance with the Company's undertaking announced inthe "Shareholder Update" released to the ASX platform on 30 June 2023, when will theCompany return its cash holdings to shareholders.

1(c) The company has stated: "Subject to the outcome of the class ruling, shareholderapproval, and the Leo shareholding coming out of ASX escrow in June 2024, the Companymay then be in a position to distribute the Leo shares."
Please provide details of any foreseeable hindrances or events that would prevent thedistribution of these shares to shareholders.

2. Has Firefinch Limited terminated Treadstone Resources contract/engagement withthe company, or has this been paused pending outcomes from the negotiations with theMalian Government?

3. Does Firefinch still retain the services of Gilbert and Tobin for legal counsel?
4. Does Firefinch Limited still retain the services of Clifford Chance for negotiations withthe Mali government? Or are our previously used in-country lawyers providing theseservices?

5. The Corporations Act 2001 Section 317 states:
Consideration of reports at AGM;
(1) The directors of a public company that is required to hold an AGM must lay beforethe AGM:
(a) the financial report; and
(b) the directors report; and
(c) the auditor’s report,for the last financial year before the AGM.

How will the following requirements be affected if the financial reports are not lodged withthe ASX & ASIC by the company:

(i) holding the Annual General Meeting within the specified time as per ASX Listing Rulesand the Corporations Act 2001 Section 250N; and
(ii) providing the required timelines for the notice of the meeting being announced?; or
(iii) given the uncertainty surrounding the “good faith” negotiations with the MalianGovernment and the lack of any indicative timelines, does the Company intend to apply toASIC for an extension of time to hold the Annual General Meeting under Section 250P ofthe Corporations Act?

With respect, drawing your attention to the Australian Securities & Investment CommissionRegulatory Guide 44 and specifically to the advice contained in Sub Clause RG 44.8 andthe timing of making an application.

Your urgent reply regarding the above matters would be appreciated.

Yours Sincerely,

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I really appreciate the work you've all put into doing this. Well done. My fear is it all drifts along, and meanwhile the directors are being paid from what's left of the cash and then owe them more, so when the shares in LLL come out of Escrow, they sell them to pay the debt and before long time passes and there is no money from the sale of LLL left, and we get zilch back.

Last edited by JohnMaz: 29/03/24

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

0 Great analysis

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