leadf
logo-loader
viewFirefinch Ltd

Firefinch directors show faith in gold strategy with purchase of shares on-market

The newly acquired Morila Gold Mine is producing gold above forecast in its first month of operation with grade in line with forecasts and tonnage above forecast.

Firefinch Ltd - Firefinch directors demonstrate faith in gold mining strategy with the purchase of shares on-market
The Morila mine is producing gold above forecast in its first month of operation under Firefinch

Firefinch Ltd (ASX:FFX) directors have demonstrated their faith in the company’s gold mining strategy with the purchase of shares in on-market transactions.

Executive chairman Dr Alistair Cowden purchased 750,000 shares worth a total of $113,017.71 - increasing the total number of securities held after the change to 5.75 million shares.

Non-executive director Brendan Borg acquired 167,500 shares worth a total of $25,190.62 increasing his total stake in the company to 12.5 million shares.

First gold under ownership

The company became an income-generating gold producer after completing the first gold pour at Morila Gold Mine in Mali under its ownership.

This follows the company, formerly Mali Lithium, completing the acquisition of an 80% interest in Morila earlier this month with the state of Mali owning the remainder.

Firefinch executive chairman Dr Alistair Cowden said: “We have been delighted at the smooth transition from Barrick management to Firefinch management at Morila and are especially pleased to be generating cashflow.”

Quick facts: Firefinch Ltd

Price: 0.195 AUD

ASX:FFX
Market: ASX
Market Cap: $152.47 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Firefinch Ltd named herein, including the promotion by the Company of Firefinch Ltd in any Content on the Site, the Company receives from said...

FOR OUR FULL DISCLAIMER CLICK HERE

Firefinch delighted as first month of production from Morila goes smoothly

Firefinch Ltd's (ASX:FFX) (OTCMKTS:EEYMF) (FRA:N9F) Alistair Cowden speaks to Proactive's Andrew Scott after announcing the first month of production from the Morila gold mine in Mali under Firefinch ownership. In November, Morila treated 544,714 tonnes of tailings at a grade of 0.46 g/t gold...

on 8/12/20

2 min read