Annuncio • Aug 28
Firefinch Limited Announces Board Changes Firefinch Limited at General Meeting held on 28 August 2023, approved Removal of Mr. Brett Fraser as a Director, Removal of Mr. Bradley Gordon as a Director, Removal of Mr. Mark Hepburn as a Director, Election of Mr. Garry Peter Lougher as a Director, Election of Mr. Gareth John Edwards as a Director, Election of Mr. Zoran Memed as a Director. Annuncio • Jul 23
Scott Lowe to Leave the Firefinch Limited as Managing Director, Effective on August 31, 2023 The Board of Firefinch Limited provides the following update regarding the Managing Director position. By mutual agreement, Scott Lowe will leave his position as Managing Director effective 31st August 2023. From 1st September 2023, FFX will not have a full time Managing Director. Executive leadership will be provided by Chairman Brett Fraser with a focus on drawing to a conclusion the strategic review process as announced on 14th December 2022, and as otherwise required. Annuncio • Jul 22
Firefinch Limited Announces Board Changes Firefinch Limited announced the removal of Mr. Brett Fraser, Mr. Mark Hepburn and Mr. Bradley Gordon as directors of the Company with immediate effect; and the appointment of Mr. Garry Peter Lougher and Mr. Gareth John Edwards as directors of the Company with immediate effect. Annuncio • Nov 16
Firefinch Limited Announces Redundant of Thomas Plant as Chief Financial Officer Firefinch Limited advised the position of Chief Financial Officer of the Company has been made redundant and as a result Mr. Thomas Plant's employment with the Company has ended 16 November 2022. This is in line with the Board's focus on reducing corporate overheads and staff headcount in the Perth office to reflect current situation more appropriately. Annuncio • Oct 17
Firefinch Limited Appoints Scott Lowe as Director Firefinch Limited announced the appointment of Scott Lowe as Director. Date of appointment is 17 October 2022. Annuncio • Sep 22
Firefinch Limited Presents Production Target for Forthcoming Production from the Morila Gold Project in Mali Firefinch Limited presented a Production Target for forthcoming production from the Morila Gold Project in Mali (Morila). The Production Target covers the period from October 2022 to March 2024 and is based on the recent update of the Mineral Resources for Morila. The Production Target has been derived from Stages 1, 2 and 3, being sub-stages of the Phase 1 open pit of the Morila Super Pit (MSP) where Ore Reserves were previously defined in May 2021. The 2021 Stage 1 and 2 designs have been modified to bring them in-line with the open pit optimisations recently completed by Orelogy Mine Consulting (Orelogy) utilising the new Morila Mineral Resource and updated modifying factors. Accordingly, a medium term production plan (MTPP) has been able to be rapidly optimised. The new MTPP envisages a target production rate of 30,000 ounces of gold per quarter on average for the 18 month period via the processing of 4.17 million tonnes of ore at an average grade of 1.54g/t gold and at a rate of 700,000 tonnes per quarter. Importantly, the input costs and consumption rates used in the MTPP based current, actual costs at Morila. The AISC over the 18 month period is forecast to be between USD 1,425/oz USD 1,475/oz. The project is anticipated to be cashflow positive in fourth quarter 2023 (December Quarter). The updated pit design for the Phase 1 Pit at the MSP is currently being completed by Orelogy. This will enable updated Ore Reserves to be published for Morila and a full Life of Mine Plan (LOMP) to be scheduled and costed. Following completion of the LOMP, studies will commence into the expansion of the mine life for Morila, either via a cut back to the Phase 1 pit (Phase 2) or via underground mining. Safety is Firefinch's number one priority. There were no serious injuries or incidents during the months of July and August. Gold production was 5,339 ounces of gold for the month of July and 8,122 ounces of gold for the month of August. The August monthly production is the highest monthly production for Morila under Firefinch's ownership with improved production driven by increases in head grade to 1.52g/t (vs 0.61g/t in the June quarter) and recovery to 90.3% (vs 84.3% in the June Quarter) 3. Ore from the Morila Super Pit comprised approximately 40% of the mill feed in July and 70% of the mill feed in August. Operations have successfully pivoted to the new project plan, with mining only undertaken at the Morila and Viper pits since early July. The larger fleet at Morila has assisted in minimising the impacts of the wet season and equipment downtime during the month. Total material moved (TMM) improved in August due to greater equipment availability with movement at the MSP being only 3% below target. Tonnes processed was 9% below target for August but mitigated by both grade and recovery being above target with a number of initiatives implemented to improve reliability and throughput. The new MTPP envisages mining and processing of 4.17 million tonnes at 1.54 g/t gold to end March 2024 for a total of 189,000 recovered ounces of gold and a target quarterly production of 30,000 ounces of recovered gold (average). The MTPP assumes that mining is only carried out at the MSP and the Viper open pit. The predominant ore feed will be from the MSP during the MTPP with Stage 1 ore being mined to Second Quarter of calendar year 2023 in parallel with Stage 2 waste stripping. Stage 2 ore mining is anticipated to commence in First Quarter of calendar year 2023 and continue until after the end of the MTPP. No ore is mined from Stage 3 during the MTPP. Waste stripping from Stage 3 has been scheduled within the 18 month period to ensure ore is available as planned in the previous LOMP 4. Activity at Viper will decrease to enable mining to proceed in a safe and orderly manner. Mining at Viper is scheduled to be completed by end first quarter 2023 (end March 2023). Annuncio • Aug 31
Firefinch Limited Presents an Update to the Mineral Resource for the Morila Gold Project (Project) Firefinch Limited presented an update to the Mineral Resource for the Morila Gold Project (Project). The Mineral Resource for the Morila Gold Deposit now stands at 66.7 million tonnes at 1.55g/t for 3.33 million ounces of gold. The resource is divided into a potential open pittable resource (which is defined by a pit shell derived using current parameters) and a resource potentially mineable by underground methods. As a result of this update, the Global Mineral Resources for the Project (comprising Morila and the satellite deposits) now stands at 73.5 million tonnes at 1.52g/t for 3.58 million ounces of gold. The Morila Open Pit resource represents the Mineral Resource reported within a conceptual pit shell generated by pit optimisation using costs derived from long term operational costs at Morila and a gold price of USD 1,800/oz as required to satisfy the Reasonable Prospects for Eventual Economic Extraction (RPEEE) criteria under the JORC Code (RPEEE shell). The Morila Underground resource is the Mineral Resource below the RPEEE shell reported above a cut off of 1.8g/t gold (derived from a database of global underground mining operations utilising mining methods suited to the Morila mineralisation). The Morila Underground resource includes the material previously reported as the Samacline and Morila North East Mineral Resource 1 and also includes mineralisation delineated by drilling at Morila East and Morila MidWest. The Company intends to complete a study into underground mining at Morila which will confirm the economics of an underground operation and determine the cut-off grades which should be used for the underground resource. Accordingly, the Underground resource is currently classed as Inferred until that study has been completed. The Mineral Resource for the Morila Deposit has been revised using almost 40,000 metres of drilling completed by Firefinch since the previous Mineral Resource was released in February 2021. Annuncio • Aug 19
Firefinch Limited Announces Change of Company Secretary Firefinch Limited announced that Mr. Nathan Bartrop has resigned as company Secretary of the company. The company announced the appointment of Mr. Stuart Usher as Company Secretary effective from 19 August 2022. Mr. Usher is a CPA and Chartered Company Secretary with 25 years of extensive experience in the management and corporate affairs of public listed companies. He holds an MBA from the University of Western Australia and has extensive experience across many industries focusing on Corporate & Financial Management, Strategy & Planning, Mergers & Acquisitions, and Investor Relations & Corporate Governance. Annuncio • Jul 04
Firefinch Limited Provides Production Guidance for the Quarter Ended June 2022 Firefinch Limited provided production guidance for the quarter ended June 2022. For the period, the company expects Production is estimated to be approximately 13,300 ounces of gold for the Morila Gold Project. This compares to previous guidance of 17-20,000 ounces of gold. Annuncio • Jun 23
Firefinch Limited completed the Spin-Off of a 80% stake in Leo Lithium Limited (ASX:LLL). The Board of Firefinch Limited (ASX:FFX) announced the spin-off of a 80% stake in Goulamina Lithium Project on February 9, 2021. Under the terms, Firefinch shareholders being rewarded with free shares in the new entity, Leo Lithium Limited proportional to their existing holding. Firefinch to retain up to 20% of Leo Lithium shares following the demerger. Firefinch will raise approximately AUD 46.9 million by issuing new 117 million shares at AUD 0.4 per share to support spin-off. Firefinch intends to progress a demerger of Goulamina into a separate lithium focused company which is expected to be listed on ASX in 2021. Simon Hay, former Chief Executive Officer of Galaxy Resources, to join Leo Lithium as Managing Director with effect from January 10, 2022. This transaction is subject to meeting ASX listing requirements and securing required regulatory including Chinese regulatory approvals, shareholder and other required approvals. Shareholder Meeting to approve demerger targeted for February 2022. Leo Lithium is expected to list on ASX by the end of the March Quarter 2022. Demerger will be implemented in February 2022. As of October 25, 2021, transaction will be completed in early 2022. Firefinch will now proceed with the demerger of Goulamina. Firefinch Limited advise that a general meeting of shareholders will be held on May 31, 2022. Under the Demerger, subject to shareholder approval, Eligible Firefinch Shareholders at the Demerger Record Date (June 6, 2022) will retain their Firefinch Shares and will also receive Leo Lithium Shares on a 1 for 1.4 basis. In connection with the Demerger, Leo Lithium intends to undertake the following offers set out below and to apply for admission to the Official List and for quotation of the Leo Lithium Shares on ASX. AS per disclosure of May 31, 2022, all conditions to the Demerger, with the exception of Firefinch shareholder approval (to be sought at a general meeting to be held later today) have now been satisfied. As on May 31, 2022, Firefinch shareholders approved the transaction. The deal is expected to close on June 9, 2022.
Firefinch Limited (ASX:FFX) completed the spin-off of a 80% stake in Leo Lithium Limited (ASX:LLL) on June 21, 2022. The conditions precedent to the Demerger have been satisfied without waiver. Recent Insider Transactions • Jun 08
Independent Non-Executive Director recently bought AU$69k worth of stock On the 3rd of June, Brett M. Fraser bought around 200k shares on-market at roughly AU$0.34 per share. In the last 3 months, there was an even bigger purchase from another insider worth AU$81k. Despite this recent purchase, insiders have collectively sold AU$3.4m more in shares than they bought in the last 12 months. Board Change • May 31
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Non-Executive Director Brad Gordon was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Recent Insider Transactions • May 31
Non-Executive Director recently sold AU$566k worth of stock On the 26th of May, Mark Hepburn sold around 589k shares on-market at roughly AU$0.96 per share. In the last 3 months, there was an even bigger sale from another insider worth AU$2.9m. Insiders have been net sellers, collectively disposing of AU$3.5m more than they bought in the last 12 months. Annuncio • May 30
Firefinch Limited Appoints Liz Wall and Naomi Scott as Non-Executive Directors Firefinch Limited announced the appointment of Liz Wall and Naomi Scott as Non-Executive Directors. Wall is a specialist consultant in Environment, Social and Governance matters with more than twenty years of global experience assessing and addressing social and environmental risks associated with extractive sector projects and investments. Having worked on a number of the largest extractive sector projects in the world, including Simandou, the ExxonMobil Rovuma project, Papua New Guinea LNG, and the Guinea Alumina Project, while also working closely with junior and mid-tier companies she brings pragmatic experience of social and environmental risks and opportunities. Liz recently served as Chair and director of TSX listed Royal Road Minerals. She has significant African experience, having worked in over a dozen countries including Mali, with extensive periods of time spent on the continent. She has provided strategic advice to listed companies and private equity firms, has worked for both the mining industry (Rio Tinto) and major lending institutions (the International Finance Corporation) directly, as well as undertaking corporate governance roles for not-for-profit organisations. Wall is a Rhodes scholar with a Bachelor's degree in Mining Engineering, and Master's degrees in Development Studies and Environmental Management. She is a Fellow and CP (social performance) of the AusIMM and is Chair of the Social Practice Forum. Scott has eleven years of operational experience within the mining sector and over ten years of experience in the design and implementation of United Nations programmes. Ms Scott is a respected authority on investment risk analysis and crisis management in Africa. For the last 6 years Ms Scott has served as Legal Counsel and Country Director Mozambique for Battery Minerals (Australia), which involved managing all aspects of legal compliance in Mozambique and Mauritius, ensuring oversight of legal matters in Australia, as well as securing mining licenses, export licenses, environmental impact plans, multiple road/water/construction/processing permits and a community relocation agreement. Ms Scott was CEO of Anglo American (Mozambique) for four years, a position which, alongside day to day management, focused on business development, project generation, regional project integration and government negotiation. Prior to Anglo, Scott was Regional Director of Metals Africa. Recent Insider Transactions • May 14
Non-Executive Chairman recently bought AU$81k worth of stock On the 12th of May, Alistair Cowden bought around 96k shares on-market at roughly AU$0.85 per share. This was the largest purchase by an insider in the last 3 months. This was Alistair's only on-market trade for the last 12 months. Recent Insider Transactions • May 05
Independent Non-Executive Director recently sold AU$2.9m worth of stock On the 3rd of May, Brendan Borg sold around 3m shares on-market at roughly AU$1.12 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$2.7m more than they bought in the last 12 months. Annuncio • Apr 26
Firefinch Limited, Annual General Meeting, May 27, 2022 Firefinch Limited, Annual General Meeting, May 27, 2022, at 15:00 W. Australia Standard Time. Location: Celtic Club, 48 Ord Street West Perth Western Australia Australia Agenda: To consider non binding resolution to adopt Remuneration Report; to re-elect Mr. Mark Hepburn as a director; to consider replacement of constitution; to consider renewal of proportional takeover provisions; and to transact other matters. Annuncio • Apr 12
Firefinch Limited Provides Production Guidance for the Second Quarter, Third Quarter, Fourth Quarter and Full Year 2022 Firefinch Limited provided production guidance for the second quarter, third quarter, fourth quarter and full year 2022. For the second quarter, the company expects production for the Morila Gold Project to be in range of 17,000 ounces - 20,000 ounces of gold. For the third quarter, the company expects production for the Morila Gold Project to be in range of 30,000 ounces - 35,000 ounces of gold. For the fourth quarter, the company expects production for the Morila Gold Project to be in range of 36,000 ounces - 40,000 ounces of gold. The company maintains its guidance for calendar year 2022 of approximately 100,000 ounces of gold. Annuncio • Feb 22
Firefinch Limited Provides an Update on Drilling Activities At the Morila Gold Project Firefinch Limited provided an update on drilling activities at the Morila Gold Project (Morila), including a number of significant intersections with high grade gold mineralization. MRD0018 Result: The intersections in MRD0018 are significant as they appear to be separated from the mineralized lodes previously mined at Morila. MRD0018 tested for extensions to mineralization intersected in a prior drillhole located 30 metres to the south (drillhole SAN 263 intersected 23 metres at 2.48g/t gold from 270 metres 1) and returned much higher grades: 15.0 metres at 7.61g/t gold from 263.0 metres, including 9.0 metres at 11.1g/t gold (MRD0018); and 2.8 metres at 23.7g/t gold from 236.4 metres, including 0.8 metres at 82.0g/t gold (MRD0018). The intersections are some 250 metres west of the pit and 130 metres south of the Morila Mineral Resource. It is unclear whether these thick and high-grade intersections represent an offset of the main Morila lodes or represent a new and discrete zone of mineralization. Mineralization at Morila is generally flat lying and both controlling structures and mineralization are interpreted to have a broad north-south trend. One of the targeting criteria used by Firefinch is to identify prior drill intersections which have not been tested to the north or south. Drilling is ongoing to the south of MRD0018, in the south-west portion of the Morila Deposit, testing similar historical intersections which were not followed up with closer spaced drilling. Morila West Drilling: All results have now been received and interpreted from the drilling campaign at the western side of the Morila Super Pit, completed in fourth quarter 2021. Results include: 7.5 metres at 5.99g/t gold from 168.8 metres, including 2.7 metres at 15.9g/t gold (MRD0015); 16.8 metres at 3.02g/t gold from 279.4 metres, including 6.3 metres at 6.95g/t gold (MRD0015); 21.7 metres at 1.40g/t gold from 266.7 metres (MRD0016); 18.0 metres at 1.58g/t gold from 262.5 metres, including 8.5 metres at 2.81g/t gold (MRD0012); 15.0 metres at 1.77g/t gold from 262.5 metres, including 4.6 metres at 3.55g/t gold, within a wider interval of 37.8 metres at 1.02g/t gold from 242.2 metres (MRD0010); 10.0 metres at 2.16g/t gold from 271.6 metres, including 4.5 metres at 3.60g/t gold, within a wider interval of 18.4 metres at 1.39g/t gold from 263.3 metres (MRD0024); 3.3 metres at 7.12g/t gold from 204.1 metres including 0.9 metres at 25.0g/t gold (MRD0011); and 14.0 metres at 1.60g/t gold from 129.8 metres including 8.1 metres at 2.57g/t gold (MRD0013). This first phase of resource drilling at Morila has delineated down-dip extensions to mineralization below the current planned pit design in the north-western portion of the deposit; the area where pre-stripping of waste has commenced. Drilling successfully intersected a number of high-grade zones in MRD0015 (7.5 metres at 5.99g/t gold including 2.7 metres at 15.9g/t gold and 6.3 metres at 6.95g/t gold) and MRD0011 (3.3 metres at 7.12g/t gold including 0.9 metres at 25.0g/t gold). These add to previously released results along strike to the north in MRD0006 (3.7 metres at 6.81 g/t gold) and MRD0009 (3.3 metres at 6.93 g/t gold). These high-grade zones are now high priority targets for further drilling, currently underway, to increase the confidence in the Mineral Resource in these areas and inform mine planning to focus on accessing these high-grade zones. The other results listed in Appendix 1 are largely consistent with the 2021 Mineral Resource, with some local variations in predicted position. These are the result of better definition of the mineralized horizon, controlling structures and refinement of the geometry of tonalite intrusions (which the mineralized horizons wrap around). Detailed structural logging has been completed on all core drilled by Firefinch with current work focussing on merging this in with historical data to provide new geological models and inform a new set of targets in this area. Morila North East Drilling: In parallel with the resource drilling at Morila West, a campaign of drilling has been completed in the northeastern part of the deposit, targeting potential extensions to the intersection in MRD0001 (10.5 metres at 34.0g/t gold). Follow up drilling to the east of MRD0001 has now returned 4 metres at 13.6 g/t gold from 315.2 metres in MRD0028. This result is down dip from MRD0002 which returned 6 metres at 2.62g/t gold 6 and geological and structural data from MRD0028 and surrounding holes are being interpreted to guide follow up drilling in this area. This high-grade zone of mineralization remains a focus for follow up drilling as the results intersected to date highlight the potential for an underground operation at Morila. The Company has already commenced a high-level study into underground mining at Morila and these results will be fed into forthcoming updates of that study. Major Estimate Revision • Feb 01
Consensus revenue estimates fall by 19% The consensus outlook for revenues in 2021 has deteriorated. 2021 revenue forecast decreased from AU$106.3m to AU$85.9m. Forecast losses increased from -AU$0.02 to -AU$0.04 per share. Metals and Mining industry in Australia expected to see average net income growth of 37% next year. Consensus price target of AU$1.90 unchanged from last update. Share price was steady at AU$0.66 over the past week. Price Target Changed • Jan 25
Price target increased to AU$1.90 Up from AU$1.55, the current price target is provided by 1 analyst. New target price is 188% above last closing price of AU$0.66. Stock is up 238% over the past year. The company is forecast to post a net loss per share of AU$0.02 compared to earnings per share of AU$0.00028 last year. Annuncio • Jan 18
Firefinch Limited Provides Production Guidance for the Period from January to March 2022 Firefinch Limited provided production guidance for the period from January to March 2022. Guidance for the January to March 2022 quarter is 10,000oz to 11,500 ounces of gold. Annuncio • Jan 06
Firefinch Limited Announces Mining Commences At Morila Super Pit Firefinch Limited announced that mining activities have commenced as scheduled at the Morila Super Pit. Initial activities comprise pre-stripping of waste from the first stage of the Morila Super Pit, which will continue during first quarter of 2022. Ore mining is currently forecast to commence during second quarter of 2022, with the Morila Super Pit becoming a consistent source of ore in the second half of 2022. Mining is being carried out by the Company's primary mining contractor Mota Engil working in joint venture with Malian group Intermine (MEIM). Morila SA engaged MEIM in June 2021 to perform contract mining operations at the Morila Super Pit and satellite pits. MEIM initially mobilised to commence mining at the Viper satellite pit. Hydraulic mining of high-grade tailings and satellite pit ore has provided a window to commence mining operations at the Morila Super Pit using the current fleet. A new mining fleet is onsite being assembled and will be operational imminently to ramp up material movement and accelerate the development of the Morila Super Pit. Pre-stripping of Stage 1 of the Morila Super Pit will continue through first quarter 2022 with first ore currently planned to present during second quarter of 2022. Board Change • Dec 31
High number of new directors MD & Director Michael Anderson was the last director to join the board, commencing their role in 2021. Recent Insider Transactions Derivative • Dec 27
Non-Executive Director exercised options and sold AU$387k worth of stock On the 21st of December, Mark Hepburn exercised 2.00m options at around AU$0.40, then sold 1m of the shares acquired at an average of AU$0.67 per share and kept the remainder. Since December 2020, Mark's direct individual holding has increased from 1.11m shares to 3.58m. Company insiders have collectively bought AU$253k more than they sold, via options and on-market transactions, in the last 12 months. Annuncio • Dec 23
Firefinch Limited Announces High-Grade Drilling Results At the Morila Gold Project Firefinch Limited announced high-grade drilling results at the Morila Gold Project, which indicate the presence of a new high-grade zone on the eastern side of the Morila Super Pit. Recent drilling has focussed on the eastern side of the Morila Super Pit targeting potential extensions to historical high-grade intersections and testing areas which were not previously well drilled. Results have been received from three holes including: 5.0 metres at 30.3g/t gold from 294.6 metres, including 1 metre at 128g/t gold; 0.90 metres at 35.9g/t gold from 228.2 metres; 1.15 metres at 31.2g/t gold from 174 metres; 1.2 metres at 18.1g/t gold from 177.3 metres; 7.9 metres at 5.60g/t gold from 313.6 metres, within a wider zone of 22.2 metres at 2.24g/t gold from 299.3 metres, including 1 metre at 31.8g/t gold; 36.6 metres at 2.01g/t gold from 371.1 metres including 4 metres at 4.24g/t gold and 11.1 metres at 2.94g/t gold; 10.5 metres at 1.87g/t gold from 241.9 metres including 4.1 metres at 3.30g/t gold; 10.5 metres at 1.68g/t gold from 155.7 metres including 4.8 metres at 2.51g/t gold; and 6.4 metres at 1.78g/t gold from 188.9 metres including 1 metre at 5.95g/t gold Previous drilling on the eastern side of Morila was relatively wide spaced, with mineralisation interpreted to be offset by a major shear zone. However, the presence of high-grade mineralisation in this drilling suggests this historical interpretation needs to be re-evaluated. The intersections also lie outside the Mineral Resources delineated at Morila. The intersections are down dip of the Morila Pit Mineral Resource and along strike from the Morila NE Mineral Resource . Also of significance are the shallow high grade intersections of 1.15 metres at 31.2g/t gold from 174 metres in MRD0021 and 1.2 metres at 18.1g/t gold from 177.3 metres in MRD0025. If infill drilling confirms this lode is continuous then it will add additional open pittable mineralisation to the Morila resource. Follow up drilling to infill these results and to test for extensions is currently in progress, with drilling already completed between MRD0021 and MRD0025 . Results from this drilling will be used to update the geological interpretation in this area and confirm the likely geometry of these high-grade zones for further drilling. Following this, an update for the Mineral Resources for Morila Pit and Morila NE will be completed. Results were derived using the fire assay technique. Analysis by the more accurate screen fire assay technique is in progress. Four rigs will continue to operate at Morila over the Christmas and New Year period. Drilling is focussed on following up recent and historical high-grade intercepts such as 10.5 metres at 34.0g/t gold in MRD0001, as well as improving delineation of mineralisation within initial mining areas to support Mineral Resources and Ore Reserves upgrades. High-grade zones intersected within this drill programme will provide priority targets for ongoing drilling in 2022. Open pit mining continues to ramp up with primary mill feed currently being provided by the Viper and Morila Pit 5 as the tailings resource is depleted. Pre-stripping activities at the Morila Super Pit will commence in First Quarter 2022, which will facilitate a ramp up in production to levels above 100,000 ounces of gold in 2022. Recent Insider Transactions • Nov 11
Non-Executive Director recently sold AU$121k worth of stock On the 2nd of November, Mark Hepburn sold around 200k shares on-market at roughly AU$0.61 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought AU$344k more than they sold in the last 12 months. Recent Insider Transactions Derivative • Sep 08
Independent Non-Executive Director exercised options to buy AU$688k worth of stock. On the 6th of September, Brendan Borg exercised options to buy 1m shares at a strike price of around AU$0.15, costing a total of AU$161k. This transaction amounted to 39% of their direct individual holding at the time of the trade. Since December 2020, Brendan has owned 3.67m shares directly. Company insiders have collectively bought AU$739k more than they sold, via options and on-market transactions, in the last 12 months. Annuncio • Jul 15
Firefinch Limited Announces First Production Blast Since March 2015 Took Place on 2 July 2021 Firefinch Limited announced that the first production blast since March 2015 took place on 2nd July 2021. Mining at Morila Pit 5 commenced in early May, and the initial phases of mining were undertaken with free dig material. Mining has now progressed to deeper benches of ore at Pit 5. This has permitted access to fresh rock which will generate processing optionality with the presentation of fresh, transitional and oxide ores, consistent with the historical mining environment at Morila. Malian owned and operated contractor EGTF has been mining Morila Pit 5, and EGTF has also performed the recent drill and blast activities. All work has been performed injury free, and material movement is progressing on schedule. Pleasingly, both reconciled recovery and grade through the plant have been above forecast. The Morila site team are now undertaking the full suite of mine operations activities safely, efficiently and effectively at Pit 5, in advance of commencing operations at additional satellite pits in August 2021, and the Morila Super Pit (expected first half 2022). Recent Insider Transactions Derivative • Jul 03
Non-Executive Chairman exercised options to buy AU$247k worth of stock. On the 1st of July, Alistair Cowden exercised options to buy 625k shares at a strike price of around AU$0.15, costing a total of AU$94k. This transaction amounted to 10.0% of their direct individual holding at the time of the trade. Since December 2020, Alistair has owned 6.25m shares directly. Company insiders have collectively bought AU$559k more than they sold, via options and on-market transactions, in the last 12 months. Recent Insider Transactions • Jul 01
MD & Director recently bought AU$99k worth of stock On the 30th of June, Michael Anderson bought around 250k shares on-market at roughly AU$0.39 per share. This was the largest purchase by an insider in the last 3 months. This was Michael's only on-market trade for the last 12 months. Annuncio • Jun 30
Firefinch Limited has completed a Follow-on Equity Offering in the amount of AUD 46.8 million. Firefinch Limited has completed a Follow-on Equity Offering in the amount of AUD 46.8 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 117,000,000
Price\Range: AUD 0.4
Transaction Features: Subsequent Direct Listing Annuncio • Jun 25
Firefinch Limited announced that it expects to receive AUD 46.8 million in funding Firefinch Limited (ASX:FFX) announced a private placement of 117,000,000 ordinary shares at an issue price of AUD 0.40 per share for gross proceeds of AUD 46,900,000 on June 24, 2021. The transaction will include participation from institutional, sophisticated and professional investors. The price represents an 11.1% discount to the closing price of A$0.45 per share on 23 June 2021 and a 13.7% discount to the 5-day trading volume weighted average price. Annuncio • Jun 10
Firefinch Limited Announces Latest Drilling Results Received from the Viper Deposit Firefinch Limited announced latest drilling results received from the Viper Deposit (Viper), part of the Firefinch's 80% owned Morila Gold Project. Further high-grade results from recent infill and extensional RC drilling at Viper include: 6m at 11.34g/t gold from 74m, including 2m at 29.2g/t gold (VIPRC121); 9m at 6.78g/t gold from 54m, including 1m at 36.9g/t gold (VIPRC120); 1m at 36.5g/t gold from 51m (VIPRC120); 6m at 9.69g/t gold from 60m, including 1m at 15.9g/t gold (VIPRC119); 7m at 5.07g/t gold from 64m, including 1m at 19.7g/t gold (VIPRC116); 10m at 3.50g/t gold from 68m, including 1m at 17.3g/t gold (VIPRC108). Surface mineralisation delineated in the southern part of the deposit. Results suggest Viper can potentially make a more significant contribution to near-term mining schedule and will be included in a revised Mineral Resource Estimate. Further deep resource drilling, as well as grade control drilling, is planned. Commencement of mining at Viper to be expedited; early works at Viper are already underway with mining to commence in the coming weeks. A total of 53 holes for 7,011 metres have been completed at Viper since the first phase of drilling in February 2021. As mentioned, the ongoing programme aims to infill existing drilling at depth to 20 metres spaced sections along the main part of the Viper deposit. In the south, the company are testing the strike and down dip extent of the deposit. All assay results received to date from this programme are included in Appendix 1 and shown on Figures 1 and 3, with better results including: 6m at 11.34g/t gold from 74m including 2m at 29.2g/t gold (VIPRC121); 9m at 6.78g/t gold from 54m, including 1m at 36.9g/t gold (VIPRC120); 1m at 36.5g/t gold from 51m (VIPRC120); 6m at 9.69g/t gold from 60m, including 1m at 15.9g/t gold (VIPRC119); 7m at 5.07g/t gold from 64m, including 1m at 19.7g/t gold (VIPRC116); 10m at 3.50g/t gold from 68m, including 1m at 17.3g/t gold (VIPRC108); 10m at 3.45g/t gold from 57m (VIPRC055); 8m at 4.19g/t gold from 48m (VIPRC056); 6m at 4.72g/t gold from 56m (VIPRC057); 6m at 4.00g/t gold from 70m, including 1m at 12.2g/t gold (VIPRC117); 15m at 1.71g/t gold from 75m (VIPRC070); 2m at 11.53g/t gold from 55m (VIPRC113); 3m at 7.66g/t gold from 23m (VIPRC076); and 5m at 3.78g/t gold from 76m, including 1m at 14.1g/t gold (VIPRC115).
As previously mentioned, the current and ongoing drill programme at Viper was designed to follow
up high grade mineralisation discovered below the pit in March 2021. The Company is pleased to
report the high grade shoot delineated by earlier drilling has been confirmed to have at least 100
metres strike length and extends 75 metres down dip below the current pit. Importantly, as shown on Figure 2, it remains open at depth. Further drilling is planned.Of note is the identification and delineation of surface mineralisation in the southern part of Viper. This provides an opportunity to supply early oxide mill feed from the satellite deposits. There has been no previous mining in this area. Results from the southern portion of the Viper deposit include 15m at 1.71g/t gold from 75m
(VIPRC070) and 2m at 4.02g/t gold from 37m, 2m at 3.54g/t gold from 88m and 4m at 3.37g/t gold
from 102m (VIPRC045). These drillholes follow results returned in the first phase, such as 5m at
17.7g/t gold from 37m (VIPRC032); 6m at 4.40g/t gold from 66m and 7m at 9.40g/t gold from 92m
(VIPRC043). Overall, the results suggest Viper can potentially make a more significant contribution to the near-term mining schedule than previously thought. The results will be included in a revised Mineral Resource Estimate and the commencement of mining at Viper is expected to be expedited following these high-grade and impressive results. Annuncio • Jun 01
Firefinch Limited Provides Update on Drilling Activities At the Morila Gold Mine in Mali Firefinch Limited (Firefinch or the Company) provide an update on drilling activities at the Morila Gold Mine in Mali. Morila is 80% owned by Firefinch. Further positive results have been received from drilling at Pit 5, a mining area located on the western margin of the Morila Super Pit. Separately, Firefinch is delighted to report it has commenced its first diamond core drill hole at the Morila Super Pit to test for extensions to high-grade mineralisation intersected in historical drilling beneath the pit floor at the Morila NE target. There are a number of outstanding intersections outside the mined pit including 56m at 4.97g/t gold (SAN540) and 29m at 6.23g/t gold (SAN216) and there will be an increased focus on drilling to target extensions to such high grade mineralisation. The Morila Pit 5 deposit is located on the western margin of the Morila Super Pit, less than 1 kilometre from the Morila plant, and is the site of current mining operations at Morila. Morila Pit 5 currently has an Indicated and Inferred Mineral Resource of 840,000 tonnes at 1.1g/t. Previous drilling at the Pit 5 deposit identified high grade mineralisation at the northern extent of the deposit such as 19m at 4.14g/t gold from 40m in SE77 and 19m at 4.37g/t gold (incl. 7m at 7.53g/t gold) from 64m in SE74. Based on these intersections the Company implemented a drilling program of 23 holes for 2,422 metres to test for extensions to the north of Pit5, along the western side of the Morila pit. All assay results from this programme are included in Appendix 1 with better results including at 1.75g/t gold from 91m (SE97);16m at 3.98g/t gold from 88m (SE93); 18m at 2.17g/t gold from 39m and 9m at 3.83g/t gold from 91m (SE87); 33m at 1.04g/t gold from 73m (SE88); 6m at 4.12g/t gold from 76m (SE95); 10m at 2.71g/t gold from 104m (SE102); and 6m at 1.96g/t gold from 168m (within 21m at 0.88g/t gold, SE105). The geology of Pit 5 is the same as the broader Morila Mineral Resource, with stacked shallow to flat-lying mineralised lodes. Initially, the Pit 5 Mineral Resource predominantly comprised near surface material, however recent drilling has intersected deeper mineralisation, which looks to have confirmed the interpretation used in the main, open-pittable Morila Mineral Resource. Pit 5 drilling results are being integrated with the broader Morila mineralisation model (developed during the estimation of the Mineral Resource). Once this is completed a new Mineral Resource will be estimated for Pit 5, and an Ore Reserve defined. The Pit 5 results will also be used in future updates of the Morila Mineral Resource since the intersections in SE88, SE97, SE104 and SE105 have returned an increased thickness of mineralisation when compared to the Morila mineralisation model. In addition, the Pit 5 results are also expected to inform the targeting of high-grade mineralisation elsewhere at Morila. Pleasingly, the thickness and tenor of mineralisation at Morila (outside the previously mined pit) has been highlighted by the significant results returned by recent Firefinch drilling at Pit 5. It is worthwhile noting that 4 of the 23 drillholes ended in mineralisation. The Company is pleased to advise that diamond drilling has commenced at the Morila Super Pit. Initial drilling aims to test for extensions to high-grade mineralisation intersected in historical drilling at Morila NE. Prior drilling in this area returned intersections such as 14m at 21.7g/t from 119m downhole (RCX2814) and 6m at 9.0g/t gold from 146m downhole (RCX2995). These results represent just some of the high-grade drilling intersections present outside the mined open pit at Morila, and Firefinch aims to systematically test a number of these targets in coming months. As with the Pit 5 drilling, it is anticipated that testing of each target will yield data which can be applied to refine the targeting model for Morila. Drilling is being carried out by Capital Drilling, with a second diamond rig planned to arrive shortly to accelerate drilling. Annuncio • May 25
Firefinch Limited Announces the Identification of A New Satellite Deposit At the K2 Prospect, Within Trucking Distance of the Morila Gold Mine Firefinch Limited announced the identification of a new satellite deposit at the K2 Prospect, within trucking distance of the Morila Gold Mine. The K2 Deposit (K2 or the Deposit) is approximately 25 kilometres north-west of Morila and will be serviced by the proposed Koting haul road. K2 lies 250 metres south-west of the planned Koting open pit and 1km NE of the recent K3 South discovery, where drilling is currently ongoing. K2 lies entirely within the Finkola tenement that is 100% owned by Firefinch through its subsidiary Birimian Gold Mali SARL. The K2 Deposit was first drilled in 2018 by the Company following up an auger geochemical anomaly with mineralisation identified in adjacent aircore holes NTAC191 (7 metres at 1.1 g/t gold from 17 metres), and NTAC192 (3 metres at 1.43 g/t gold from 8 metres). No further work was undertaken until the recent drilling campaign. A total of 28 reverse circulation drillholes have been completed for 2,811 metres of drilling. Additional drilling is planned to infill and extend the northern part of the Deposit and to infill already drilled sections in the southern half of the deposit. The Koting deposit lies to the NNE of K2 and results of this drilling will test any link between the deposits, with the current interpretation that K2 sits in the footwall of the Koting deposit. This drilling will likely follow the current drilling at K3 South which is following up the recent discovery of high-grade mineralisation. Completion of the drilling may be disrupted by the forthcoming wet season. Annuncio • May 21
Firefinch Limited Announces Commencement of Commissioning of the Comminution Circuit at the Morila Gold Mine Using Feed from Morila Pit 5 and Stockpiles Firefinch Limited announced that commissioning of the comminution circuit at the Morila Gold Mine has commenced using feed from Morila Pit 5 and stockpiles. This milestone heralds the second stage of the Company's ramp-up strategy, whereby open pit mining of Morila's satellite pits is forecast to increase production from approximately 50,000 ounces of gold in 2021, to approximately 120,000 ounces in 2022. Since acquiring the Morila Gold Mine on 11th November 2020, Firefinch has rapidly commenced a program of work to refurbish key steel structures in the comminution circuit, prepare the crushers, screens and all components of the plant for operation. Preparatory work also included an upgrade of the dump pocket structures, embankment stabilisation and drainage upgrades. Approximately USD 2.5 million dollars has been spent on the refurbishments, with all work having been undertaken by Malian owned and operated contractors, and their local workforces. Importantly, the original equipment manufacturers have undertaken positive technical assessments, utilising their African based presence. Commissioning of the oxide circuit commenced on 15th May 2021 predominantly using feed from run of mine stockpiles and the plant has ramped up well, with 20 hours of overall circuit run time by day 3. Ball mill run time was 21.2 hours, and processing was at an annualised rate of 2.4 million tonnes per annum for the 24-hour period. Direct tipping of Morila Pit 5 feed commenced on 19th May 2021. The oxide circuit will be ramped up to approximately 3 million tonnes per annum in the coming days. Annuncio • May 05
Firefinch Limited Provides Update of its Life of Mine Plan for the Morila Gold Mine in Mali Firefinch Limited provided details of its Life of Mine Plan for the Morila Gold Mine in Mali. Morila has been producing gold continuously for 21 years. Mining to December 2020 has delivered 62.18 million tonnes at 3.81 g/t gold for 7.62 million ounces of contained gold to the processing plant. Some 21.3 million tonnes of tailings have also been reprocessed giving a total gold production from mining and re-processing of 6.9 million ounces at an overall recovery of 91%. This new LOMP envisages an annual average production rate of 160,000 ounces of gold to 2030 via the mining and processing of some 37.5 million tonnes at 1.33 g/t gold for 1.45 million recovered ounces of gold. The LOMP covers the period 2021 to 2030. The initial period of the LOMP (2021 to 2028) incorporates mining of Probable Ore Reserves of 23.8 million tonnes at 1.40g/t gold for 1.07 million contained ounces of gold and returns an undiscounted pre-tax cashflow of USD 604 million (AUD 805 million). The new LOMP envisages mining and processing of some 37.5 million tonnes at 1.33 g/t gold at 1.45 million recovered ounces of gold for an average annual production of 160,000 ounces of recovered gold to 2030. The LOMP envisages that tailings production via hydraulic mining will progressively ramp down and cease by December 2021. Production will increase through mining of Morila Pit 5 (adjacent to the Morila Super Pit) and the satellite pits (Koting, N'Tiola and Viper) at a rate of up to 3 million tonnes per annum. Pre-strip and the delivery of ore from the Morila Super Pit will ultimately overlap satellite pit mining, and the predominant ore feed will be from Morila by quarter 1, 2023, when production will ramp up to approximately 4 million tonnes per annum. It is anticipated that feed from the satellite pits will continue to provide optionality. Executive Departure • Mar 21
Joint Company Secretary has left the company On the 16th of March, Bee Hiang Lee's tenure as Joint Company Secretary ended after less than a year in the role. We don't have any record of a personal shareholding under Bee Hiang's name. A total of 3 executives have left over the last 12 months. Annuncio • Mar 21
Firefinch Limited Announces Resignation of Elizabeth Lee as Joint Company Secretary Firefinch Limited announced resignation of Ms Elizabeth Lee as Joint Company Secretary with effect from 16 March, 2021. Annuncio • Mar 14
Firefinch Limited Provides Update on Activities At the Morila Gold Mine Firefinch Limited provided update on activities at the Morila Gold Mine. The Morila gold mine in Mali is currently producing gold from reprocessing of tailings. Guidance offered was that the mine would produce between 10,000 and 10,500 ounces of gold in First Quarter 2021. In January, the mine produced 3,494 ounces of gold and 3,372 ounces of gold in February. The mine remains on track to meet guidance. It is intended to commence mining of satellite pits in mid-2021 and to enable processing of this ore, multiple capital works programmes are being undertaken at the processing plant and the tailings dam. These projects are being funded by cashflow from operations. Major projects at the processing plant include: Refurbishment of the primary crusher and oxide crusher dump pockets; Civil works around the Primary Crusher retaining structures. 90% complete; Sandblasting and painting of mill steel structure. 80% complete; Replacement of corroded steelwork in process plant, conveyor transfer maintenance and transfer replacement. 60% complete; Refurbishment of laboratory buildings; Civil works to install temporary 6MW power plant; Vendor inspection of crushers and mill has commenced; Projects are proceeding on budget, on schedule and incident free. Projects at the tailings dam include: Establishment of deposition compartments within the tailings dam footprint to accept tailings to allow congruent hydraulic mining and tailing deposition. Deposition of tailings into the tailings dam, as opposed to the Morila Pit, commenced on 25 January 2021. This is the first step towards dewatering the Morila Pit. Water levels in the Morila Pit have started to decline. Mechanical mining of the basal layer of tailings after hydraulic mining and prior to deposition of tailings. Some 350,000 tonnes at approximately 0.4g/t gold has already been placed on the ROM pad for treatment once comminution commences. Refurbishment of main drains in the tailings dam. Design of final TSF facility has commenced. Annuncio • Mar 11
Firefinch Limited Appoints Michael Anderson as Managing Director, Effective from 6 April 2021 Firefinch Limited announced the appointment of Dr. Michael Anderson as Managing Director (with effect from 6th April 2021). Dr. Alistair Cowden has acted as Executive Chairman over the past year and will resume the role of Non-Executive Chairman; he will retain carriage of the Goulamina Lithium Project partnering and demerger process until an executive team are appointed to the new lithium company. Annuncio • Mar 06
Firefinch Limited Provides Drilling Updates of Koting Project and the Pit 5 Prospect Adjacent to the Morila Pit Firefinch Limited announced latest results received from drilling at the Koting Project and the Pit 5 Prospect adjacent to the Morila Pit. The Koting deposit is located approximately 30 kilometres northwest of Morila, only 2 kilometers from an established haul road, and is 100% owned by Firefinch through its subsidiary Birimian Gold Mali SARL. Koting was discovered by Firefinch in early 2014 and has been drilled intermittently since that time, with a significant drill program completed at the deposit in late 2019. Individual intercepts greater than 0.5 g/t gold are tabulated. A long section looking east with composite intersections greater than 3 metres long and 0.5 g/t gold is shown in. Mineralisation is shear zone hosted, low sulphidation (pyrite and arsenopyrite) quartz vein system, with varying levels of silica, chlorite, biotite and sericite alteration of the host greywacke and siltstone. Mineralized lodes strike northnorth east and dip steeply to the west. Lodes are up to 250 metres long and 25 metres wide in plan. The Pit 5 Prospect is located on the western edge of the Morila Pit and is named after a conceptual mine design planned during 2006 but not mined. Drilling was completed to a nominal spacing of 35m x 35m at this time, with no further drilling completed in the last 15 years. A short RC drilling programme was completed at the Pit 5 Prospect in February 2021. 43 holes for 1,756 metres were drilled at a spacing of 25m x 25m as an initial step to determine the quantity and grade of oxide mineralisation present within Pit 5. The geology of the Pit 5 is the same as the broader Morila Mineral Resource, with stacked shallow to flat lying mineralized lodes. All assay results have now been received from this programme and better results include: 7 metres at 5.72 g/t gold from 15 metres in SE03 including 4 metres at 9.48g/t gold; 6 metres at 2.77 g/t gold from 1 metre in SE25 including 1 metres at 13.3g/t gold; 9 metres at 1.13 g/t gold from 25 metres in SE06; and 5 metres at 1.74 g/t gold from 6 metres in SE09 including 2 metres at 3.72g/t gold. The Pit 5 mineralisation was not included in the Morila Mineral Resource and a separate resource model is being prepared. Due to the shallow nature of the mineralisation identified and the proximity to the processing plant the Pit 5 Prospect will be evaluated as a standalone project independent of the main Morila resource, and is anticipated to provide another source of early mill feed in the rampup of the Morila Project. Annuncio • Feb 09
Firefinch Limited Clarified the Announcement to ASX of February 8, 2021 Entitled 2.2 Million Ounce Resource Estimate Transforms Morila Firefinch Limited clarified the announcement to ASX of 8 February 2021 entitled 2.2 million ounce resource estimate transforms Morila. The Company stated in that announcement that studies to commence to target production of 150,000 to 200,000 ounces from a Morila Superpit using existing infrastructure. The Company wishes to restate this Production Target and consolidate the material assumptions upon which this production target is made to provide greater clarity to investors. Other than costs assumptions used in pit optimisations the assumptions upon which the production target is based have been stated in the Announcement as well as in prior ASX announcements, specifically those of 31 August 2020 and 7 September 2020. Investors who wish, may find extensive further relevant disclosure in the JORC Table 1 attached to these releases. The company has disclosed Resource Estimates for the main Morila deposit, satellite pits and tailings in the announcements listed above. These resources include some 25.6 million tonnes at 1.46g/t gold for 1.24 million contained ounces of gold in the Measured and Indicated category. There is sufficient tonnage within these classifications to supply the Morila mill at its nameplate capacity of 4.5 million tonnes per annum for at least 5 years. These Measured and Indicated resources underpin 100% of the production target and no Inferred Resources are considered in setting the Production Target. These estimates were, as disclosed in the Announcement, prepared by a Competent Person in accordance with the requirements of the JORC code. A Competent Person has also signed off on the Production Target. All Mineral Resources are constrained within conceptual pit shells to meet the reasonable prospects of eventual economic evaluation criteria under the JORC Code. The Mineral Resource at the Morila pit is contained within conceptual pit shell generated at a gold price of USD 1,800 per ounce of gold which is similar to the prevailing gold price. The gold price in the last 6 months has ranged between USD 1,776/oz and USD 2,035/oz). The conceptual pit shell was generated by Whittle pit optimisation software and is much larger than the Indicated Resource as it also includes Inferred Resources. However, the Production Target is not dependent on Inferred Resources as detailed above. Specifically, the Indicated Resources are not located at the extremities of the conceptual pit shell and no Inferred Resources need to be mined to access the Indicated Resources. No detailed pit design has yet been completed, once a pit design and associated works have been completed during the quarter an Ore Reserve may be able to be declared. Mining costs used in the pit optimisations were informed by recent mining tenders for mining at Morila and industry comparisons. Actual costs are commercial in confidence until the tender process is completed. All other costs used in the pit optimisation were actual processing and administration costs from current Morila operations along with prevailing royalties to the state of Mali. Assumptions for processing rates are based on the nameplate throughput for the currently operating Morila processing plant, namely 4.5 million tonnes per annum. The plant has operated continuously at this throughput from 2000 to 2016 treating similar material to that considered here. From 2016 the plant has been treating tailings and pit ore at similar or higher throughputs. The base case for mining rates in the life of mine plan as well as for any studies on additional mineralisation will be to provide ore to the plant to match this processing rates. The plant is currently in operation and there is no reason for the Company to forecast that this plant will not operate at the assumed processing rate. The Morila pit and the satellite deposits (N'Tiola, Viper and Domba) have been mined and processed previously, as recently as 2018. The material planned to be mined at Morila and its satellites is identical and continuous with that previously mined material. There are extensive production records that document an average metallurgical recovery of 90%-92%, along with metallurgical testwork carried out during the life of the operation. The production records relate to processing of over 50 million tonnes of ore and consequently gold recoveries are assumed to be 90% - 92% when mining of thismaterial resumes. Infrastructure Morila has all the infrastructure, workforce, systems and processes required of a remote operating mine and processing plant. It has invested heavily in surrounding communities. Costs are well understood based on 20 years of continuous operations. Firefinch has previously informed the market on the refurbishment activities underway at Morila to permit the resumption of crushing and grinding by mid-year. Current gold production is from tailings reprocessing and does not require crushing and grinding. Is New 90 Day High Low • Feb 09
New 90-day high: AU$0.28 The company is up 72% from its price of AU$0.16 on 11 November 2020. The Australian market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 18% over the same period. Annuncio • Feb 08
Firefinch Limited to Announce the Results of Mineral Resource Estimate at the Morila Gold Mine in Mali Firefinch Limited (Firefinch or the Company) announced the results of a Mineral Resource Estimate at the Morila Gold Mine in Mali. The Mineral Resource for the Morila deposit is: The Mineral Resource was estimated by independent consultants Optiro Pty Ltd. (Optiro) using an entirely new geological model constructed by Optiro based on drilling data from the Morila deposit. Some 12,082 drillholes for over 483,000 metres of Reverse Circulation and diamond core drilling informed the estimate. The Mineral Resource is reported at a 0.40g/t gold cut-off grade for the Morila Main Pit Resource and a 1.80g/t gold cut-off grade for the Morila NE and Samacline Resources. The open pittable mineralisation lies around and beneath the existing Morila pit and has been constrained within a conceptual Whittle pit shell based on a gold price of USD 1,800 per ounce, that gold price also informs the economic cut-off grade. The cut-off grade for mineralisation which could be exploited by underground mining methods has been determined based on potential mining costs, comparison with other operations in West Africa and the current gold price. The previously reported Inferred Mineral Resource of 32 million tonnes at 1.26 g/t gold for 1.30 million ounces of contained gold was based on resource modelling completed in 2008. This estimate used a `numbers driven' approach and a 1 g/t gold cut-off grade. The almost 70%, increase in the ounces of contained gold is due to three factors: Application of a 0.4g/t gold open pit cut-off grade due to the gold price being more than double than that applicable when the prior estimate was made; A geologically driven approach from Optiro where considerable effort was made to generate coherent and credible `geological' shapes that reflect and honour the geometry of mineralisation mined in the Morila pit from 2000 to 2009; and Unification and validation of various databases by independent database consultants Geobase Australia that delivered confidence to improve resource classification and permitted the verification and inclusion of data in the estimate that was not included in the prior estimate. The Company is tackling Morila in a logical and systematic manner, with a plan well underway to define near-term feed to the plant, refurbish the plant and tailings dam, build resources and reserves and then define an initial mine plan that details production and costs. Drilling: Further drilling is required at Morila's satellites - Koting, N'Tiola, Viper, Domba and Pit 5. This drilling will rotate continuously through the deposits; the order of drilling will be determined by production priorities. Drilling will continue until the limits of economic open pittable material have been reached. Assay turnaround from the on-site, independently operated laboratory is quick (5 - 10 days) compared to the backlogs being faced by Australian companies. Further drilling is also required at Morila to test extensions to mineralisation as well as infill to verify the resource. This drilling is now able to be planned as it can be informed by the new resource estimate. Of the two rigs currently at Morila, one is a multi-purpose rig, and when production priorities permit, that rig will commence infill and extension reverse circulation and diamond drilling around the Morila pit. Some infill drilling will await dewatering of the upper part of the Morila pit. Annuncio • Jan 29
Firefinch Limited Appoints Elizabeth Lee as Joint Company Secretary Firefinch Limited announced the appointment of Elizabeth Lee as Joint Company Secretary effective from 28 January 2021. Elizabeth will be jointly
responsible for all company secretarial functions and corporate governance matters. Annuncio • Jan 22
Firefinch Limited Announces Drilling Results from Infill and Extensional Drilling At the N'Tiola Deposit Within the Morila Gold Project Firefinch Limited announced drilling results from infill and extensional drilling at the N'Tiola Deposit within the Morila Gold Project. The N'Tiola satellite pit is some 25 kilometres from the Morila Processing plant. Drilling has successfully intersected thick zones of economic mineralisation including: 15m at 1.94g/t from 107m (NTNRC013). 15m at 1.93g/t from 109m (NTNRC004). 7m at 1.72g/t from 40m (NTNRC004). 6m at 1.40g/t from 49m (NTNRC014). 18m at 1.12g/t from 132m (NTNRC022). 11m at 1.04g/t from 29m (NTNRC016) and 8m at 1.10g/t from 68m (NTNRC021). The drilling results are anticipated to result in an increase to the Mineral Resource at N'Tiola. Drilling successfully targeted mineralisation within, or adjacent to, the pit shell which defines the current Mineral Resource at N'Tiola. The Mineral Resource is currently being updated with these drilling results, following which the resource will be used to refine the pit design. The pit shell shown in Figure 1 has been used in preliminary mine planning and scheduling and the updated Mineral Resource will be used to delineate maiden Ore Reserves for N'Tiola. Contemporaneously, quotations are currently being received from mining contractors via a tender process. Approximately 39,000 ounces of gold (0.85 million tonnes at 1.42 g/t gold) has been produced to date from open pit mining at N'Tiola. N'Tiola is one of three satellite deposits (N'Tiola, Viper and Domba) which are expected to underpin the initial phase of the Company's plan to return Morila to full production, in combination with development of the Company's Koting discovery. Drilling is currently underway at Koting with two RC drilling rigs; the rigs are scheduled to move to drill the Viper deposit next. Drill rigs are likely to return to N'Tiola to complete grade control drilling on near-surface mineralisation and carry out further infill based on the updated Mineral Resource. Annuncio • Jan 08
Firefinch Limited Announces Quarter Gold Production in December 2020 Firefinch Limited announced that it has exceeded its production guidance with 4,228 ounces of gold produced from processing tailings in December 2020. A total of 7,683 ounces have been produced since the Company acquired ownership of the Morila Gold Mine on 11 November 2020. The Company reaffirms a production target of 10,000 to 10,500 ounces of gold for First Quarter 2021. Cash and Gold on hand is AUD 33 million at 31 December 2020. Operational performance has consistently delivered above forecast, and safely. Continue to progress mine planning including evaluating potential new ore feeds and plant and infrastructure refurbishment, costings and works at the Morila Gold Main Pit. Two reverse circulation drill rigs are on site, undertaking infill drilling at Morila's satellite resources to improve confidence in planned open pits through increased data coverage. Is New 90 Day High Low • Jan 08
New 90-day high: AU$0.23 The company is up 35% from its price of AU$0.17 on 09 October 2020. The Australian market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 24% over the same period. Recent Insider Transactions • Dec 20
Executive Chairman recently bought AU$71k worth of stock On the 15th of December, Alistair Cowden bought around 500k shares on-market at roughly AU$0.14 per share. In the last 3 months, they made an even bigger purchase worth AU$113k. Alistair has been a buyer over the last 12 months, purchasing a net total of AU$184k worth in shares. Annuncio • Dec 03
Firefinch Limited Completed its First Month of Production Under Firefinch Ownership Firefinch Limited announced that the Morila mine has completed its first month of production under Firefinch ownership. In November, Morila treated 544,714 tonnes of tailings at a grade of 0.46g/t gold and produced 4,130 ounces of gold at a recovery of 51%. All-in Cost is approximately US$1,000 to $1,100 per ounce of gold. The tailings treatment operations are forecast to produce 4,000 to 4,100 ounces of gold in December and 10,000 to 10,500 ounces of gold in First Quarter 2021. Aircore drilling to delineate additional mineralised tailings has been completed and modest extensions to the tailings Resource are expected. The drilling results are currently being modelled and the production plan will be updated. The company is applying cash flow from the tailings operations to fund capital works and studies to enable the re-start of open pit mining at Morila. These activities include: Mine planning: Developing a mine plan and schedule for the Morila satellite pits and tender for mining contractors. Tailings and water management: Reconfiguring the tailings storage facility to cease depositing tailings in the Morila pit and deposit tailings within the existing tailings storage facility footprint and dewatering of the Morila pit. Plant: Refurbishment of the processing plant. Satellite Drilling: Drilling at satellite pits to improve confidence and potentially increase resources. Potential new ore feed: Evaluating stockpiles and potential remnant shallow mineralisation adjacent to the Morila pit evident from new data. Exploration Drilling: Aircore drilling of targets on the Morila lease and on the adjacent Massigui Project. Recent Insider Transactions • Dec 02
Executive Chairman recently bought AU$113k worth of stock On the 27th of November, Alistair Cowden bought around 750k shares on-market at roughly AU$0.15 per share. This was the largest purchase by an insider in the last 3 months. This was Alistair's only on-market trade for the last 12 months. Annuncio • Nov 28
Firefinch Limited Announces First Gold Pour at the Morila Gold Mine in Mali Under Firefinch Ownership Completed Firefinch Limited announced that the first gold pour at the Morila Gold Mine in Mali under Firefinch ownership has been completed. Yesterday's gold pour highlights that the Company is now an income-generating gold producer. The Morila Gold Mine is producing gold above forecast in its first month of operation. Tailings retreatment, mining and processing is operating as planned, the Company is achieving grade in line with forecasts, and tonnage is above forecast. Production for the month of November is expected to amount to 4,000 to 4,100 ounces of gold at an approximate All-In-Cost of USD 1,000 to USD 1,100 per ounce of gold. Please refer to ASX announcement of 7 September 2020 for production target. Annuncio • Nov 25
Firefinch Limited Announces an Initial Mineral Resource Estimate for the Three Previously Mined Open Pits Within the Morila Project - N'tiola, Viper and Domba Firefinch Limited announced an initial Mineral Resource Estimate for the remaining mineralization at three previously mined open pits within the Morila Project - N'Tiola, Viper and Domba. A total Indicated and Inferred Mineral Resource Estimate of 2.5 million tonnes at 1.38g/t gold for 113,000 ounces of contained gold at a cut-off grade of 0.5g/t gold, has been delineated at the three satellite deposits. All resources have been estimated from existing data via Ordinary Kriging and constrained within conservative pit shells using a gold price of USD 1800 per ounce of gold to satisfy the Reasonable Prospects for Eventual Economic Extraction criteria within the JORC Code. The combined Measured, Indicated and Inferred Mineral Resources across the Morila Project is now: 39.3 million tonnes at 1.17g/t gold for 1.49 million ounces of contained gold at a cut-off grade of 0.5g/t gold. It should be noted that the Mineral Resource for the tailings is being depleted by current mining and will be updated quarterly. Previous production from the satellite pits was approximately 110,000 ounces of gold: Viper: 0.81 million tonnes at 1.19 g/t gold for 31,000 ounces of gold. N'Tiola: 0.85 million tonnes at 1.42 g/t gold for 39,000 ounces of gold. Domba: 0.77 million tonnes at 1.71 g/t gold for 42,000 ounces of gold. The Mineral Resource Estimates reported here have been provided to Firefinches consultant mining engineers to allow mine design and scheduling to take place ahead of a tender process for the recommencement of mining at the Morila Project. The satellite deposits are expected to underpin the initial phase of the Company's plan to return Morila to full production. Drilling rigs are on site to carry out infill and extension drilling at the satellite deposits with the aim of improving the delineation and classification of material currently classified as Inferred as well as testing strike and depth extensions at each deposit. A new geological model has been created for the main Morila deposit and all historic data validated. A new Mineral Resource Estimate is in progress and will be reported when completed. Drilling is also being carried out around the Morila site testing stockpiles to determine which of these could provide additional feed to the Morila processing plant. Drilling at the northern margin of the tailings dam has been completed with results to be fed into an updated Mineral Resource for the tailings. Annuncio • Nov 11
Firefinch Limited Announces Management Changes Firefinch Limited announced multiple key appointments which greatly strengthen the team. Mr. Brett Fraser has joined the Board of Firefinch as a Non-Executive Director. Brett is an experienced ASX company director, currently holding a position as Director of central-west African iron ore company, Sundance Resources Limited. Brett's deep knowledge (acquired over his 30 years' corporate finance experience) will be a great asset to the Company, particularly regarding business acquisitions, business strategy and restructuring, and corporate governance. Mr. Andrew Taplin has joined Firefinch as Chief Operating Office. Andrew has extensive executive leadership and operational experience with Rio Tinto and BGC Contracting. Andrew brings more than 25 years experience in the resources sector working in operations, major project development, studies and joint ventures. Andrew has worked extensively around the world including in Australia, Canada, USA and Africa. He is a past Chair of CMEWA WHS Committee. In particular his experience working in operations and projects in West Africa and his fluency in French will be an integral part of the ramp up the Morila operations. Mr. Denis Matanda has been appointed Group Mining Engineer after 8 years with Resolute at the Syama mine in Mali where he was manager of surface mining and previously with Barrick and AngloGold in East and West Africa. Denis brings more than 17 years experience in mine production, mine planning, projects and management. Mr. Amadou Maiga has been appointed finance and administration manager at the Morila mine. He is an accountant and was previously Finance Manager at the Loulo and Morila mines for 12 years and has deep knowledge of Morila. Ms Irina Latonenko will join the company as Financial Controller in the Corporate Office. Ms Latonenko is a Chartered Accountant with extensive experience in West Africa, including with Byrnecut Offshore Group where she held the role as Commercial Manager. Annuncio • Oct 29
Mali Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 64.437815 million. Mali Lithium Limited has completed a Follow-on Equity Offering in the amount of AUD 64.437815 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 402,736,345
Price\Range: AUD 0.16
Discount Per Security: AUD 0.008
Transaction Features: Subsequent Direct Listing Is New 90 Day High Low • Oct 21
New 90-day high: AU$0.22 The company is up 42% from its price of AU$0.15 on 23 July 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is flat over the same period. Annuncio • Oct 08
Mali Lithium Limited Announces Drilling Programme to Commence At Koting Mali Lithium Limited announced that the Koting deposit lies within MLL's Massigui Project and is adjacent to the Morila mine, being some 22 kilometres from the processing plant and 2 kilometres from the existing haul road. An initial Resource Estimate is nearing completion and a programme of 4,400 metres of RC drilling for 38 drillholes has been prepared. The drilling will infill and extend the existing drilling to deliver a Resource suitable for mine planning and design. Drilling will commence as soon as possible after the wet season in Mali, targeting mid to late October. Work has commenced on mining and environmental studies to support an application for a mining permit for the Finkola tenement which hosts the Koting deposit. The aim is to develop shallow open pit resources which can potentially feed the Morila mill in the short term. In addition to drilling at Koting, 3 exploration targets will be tested; K2, K3 and K4. A programme of 3,030 metres of RC drilling for 28 drillholes has been prepared. These targets are defined by gold in auger and aircore drilling. The Company has commenced work to upgrade the current Inferred classification, and to increase the size of the current 1.3 million ounce Inferred Mineral Resource for the main Morila pit, using all available data along with prevailing gold prices and costs, to create a new Mineral Resource Estimate. The current Mineral Resource for the main Morila pit comprises 32 million tonnes at 1.26g/t gold in the Inferred category. Annuncio • Sep 09
Mali Lithium Limited announced that it expects to receive AUD 64 million in funding from Resolute Mining Limited Mali Lithium Limited (ASX:MLL) announced a private placement of 400,000,000 shares at a price of AUD 0.16 per share for gross proceeds of AUD 64,000,000 on September 9, 2020. The transaction will include participation from existing major shareholders, institutional and sophisticated investors, including a strategic investment from new investor Resolute Mining Limited (ASX:RSG). The company will receive funding in two tranches first tranche of approximately 47,600,000 shares and second tranche of 352,400,000 shares which is subject to shareholder approval in meeting to be held in late October 2020. The first tranche is expected to be issued on September 11, 2020. The transaction will include participation from directors of the company subject to shareholder approval. 