Trying to localise all the unanswered questions in one place, and the relevant items leading to the General Meeting.
Just as a reminder of the {insert own description here} Board of Directors performances and or lack of performances;
Government of Mali letter:In all the time I have been investing, I don't think that I have seen an announcement quite like the one recently released by the Company in what was basically a rebuke to some social media posts of concern.
The announcement was released on the 3rd of August in relation to a LinkedIn post by a member of the Morila Mine staff which had in part made claims of the Malian Government sending letters to Firefinch Limited, including court orders.
The purported post (since been removed) was placed on LinkedIn on the 27th July some 7 days prior to the announcement.
The Company debunked the Court Orders component which basically (IMO) means the rest of the content of the post was factual.
What has me perplexed, when did the Company actually receive the letter/s from the Government?
Were they going to inform the market of the "material change" to the negotiations of the 80% shareholding of Morila SA?, ie: Government not signing off on the deed until it resolves issues at the Morila Gold Mine.
++ Some transparency would have been nice to I dunno, what are the (expletive deleted) issues at the Mine that could possibly involve us as we have no liabilities or whatever legal jargon you want to throw around in your fluttering eyes sales pitches.
~ did they only make the announcement because of the social media post rather than their continuous disclosure obligations?
~ why are we not being informed of what the Morila issues are that we are supposed to remedy? and never mind any of this confidentiality rubbish.
~ the Company have been informing shareholders since they began these proposed transactions (2 Dec 2022) that we are getting closer, and we have our preferred bidder for Morila and preferred bidder for FFX, and it is close (as per the minions) that drop in to tell us we are jeopardising everything.
At a time of concern for the incumbent Directors as us activists may cause significant destabilising events to negotiations, etc --
how does that stack up against the Government not signing off on the deed of sale, and with this (further?) delay (bare with me as I look for the exact words of concern the incumbent Board have so I can quote verbatim)
quote: "(sic) ...
at a time of critical importance to the future of the Company as it realises its strategy in relation to the Process. Any board change could cause existing negotiations to break down or or otherwise place place potential transactions at risk and; .......(sic)"
~ I would be surprised if the bidder for the process doesn't terminate negotiations with this destabilising event.
~ we have and continue to be treated with (IMO) disdain, hence another query has been lodged with the ASX
Recently received indeed ...... I actually implore everyone to submit one, after they get a few the ASX might just pay attention.
I have never had any real issues with Michael Weir from Citadel - Magnus, other than when the Director Nomination went AWOL into his junk folder, but you do have to feel for him.
I sent him questions re:
~ as previous post, Seydou Semega no longer being employed by Firefinch, and as he was an Executive why was it not announced?
~ with him not being the Country Manager, and as Lowe has no intention to go to Mali who is doing the negotiations on behalf of Firefinch with the Mali Government?
We all remember the recording of the AGM, where Fraser was adamant that the Company have and are always available to speak (etc) with shareholders ..
~ I had a return email from Michael -- he was unable to contact the Company but will get back to me when he as been in contact with them .. .. lol
At a time of concern for the incumbent Directors as us activists may cause significant destabilising events to negotiations, etc -- how does that stack up to not knowing if we have anyone in Mali to negotiate of behalf of the Company. Maybe Gordon should have volunteered to go, he speaks French and has expertise in Africa, and mining and other stuff - just saying.
At a time of concern for the incumbent Directors as us activists may cause significant destabilising events to negotiations, etc -- how does that stack up to not being contactable? I mean, the Mali government may have been trying to call, or the bidder for FFX may have wanted one final question answered before signing -- please leave a message after the tone and someone will get back to when we eventually get around to it.
Shareholder communications are depending who you are; or through whose eyes you are looking.
The company believe they are and have been always available to shareholders but yet have been using the services of Morrow Sodali (Citadel-Magnus) since November 2022.
~ Some shareholders know otherwise, and yesterday's email exchange is evidence of the difficulties shareholders have in trying to communicate with the company. Firstly you are communicating through a 3rd party, which in turn lengthens the time spent on each shareholder interaction with the back and forth dialogue. It extends further if Michael doesn't have ready answers, (understandable) as he isn't an officer of the Company and even further again if he can't actually contact the Company.
Bottom line: If you think there is problems with getting any shareholder engagement and or information from the Company now, how will we go if the Company is delisted? cheers
ps: Announcement by FFX prior to LLL releasing one tomorrow bets?
