The Firefinch Fiasco (Money of Mine Analysis), page-39

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21/08/23

00:49

Post #: 69445738
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Originally posted by Karl89: ↑

Really odd, the money was in our bank account, not the morilas funds account. How did we have no finance governance control over our own bank accounts if the above was correct?

Q1 production costs showed an unsustainable amount of cash burn, if the above was correct, FFX would have been fully aware they would run dry well before producing cash flow positive.

Why would FFx presented these apparent additional costs as bundled within production costs? Surely they internally would have a better break down of what these costs were?

the amount of employees seems high however in the early days I trolled through Randgold / barrick / anglogold reports and the numbers seemed to be in the rough ball park of those required to run the plant when in full swing.

The bit about the female directors has me also scratching my head as well. As far as I knew they had not gone in country and activity as NEDs, how much engagement would they have had with the locals within the short time frame of employeement? Death threats and feeling threatened? Odd ?

not saying any of what you have said here is incorrect however it creates a ton of questions that I couldn’t imagine would have understandable answers? … that said no one ousted of the company (and perhaps in country) has properly explained how this all imploded and so quickly…

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"the money"

probably a reference to Morila cash

not Firefinch cash

Mali militia don't have access to Australian bank accounts of Firefinch, don't be silly

if they did, there wouldn't be 30,000,000 remaining

FFX Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
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The Firefinch Fiasco (Money of Mine Analysis), page-39

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