Firefinch has completed the acquisition of an 80% interest in the Morila gold mine in Mali.
The final acquisition price was US$27.67 million plus a US$1.2 million adjustment for gold in Dore and in fine carbon.
The parties were advised by the Government of Mali that it did not object to the transaction and was supportive of Firefinch efforts to rejuvenate the mine.
Firefinch Executive Chairman, Dr Alistair Cowden, comments:
“We are delighted to become the latest gold producer listed on ASX. The positive reception that the change in ownership has received from the Morila workforce, surrounding communities and the Government in Mali has been overwhelming. We are thrilled that they share our excitement in giving Morila a new lease of life.
Read more about Mali
“We have much to do and we are well underway in the process to transition Morila from treating tailings and preparing for closure to an operation preparing for the resumption of open pit mining and expansion of production.
“We are excited about the journey ahead and look forward to keeping our shareholders updated and we will be unrelenting in our efforts to develop a long life, mid-scale gold producing operation.
“We would like to acknowledge the support of Barrick and AngloGold through this transaction. We look forward to building upon the 7.5 Moz of gold production legacy we inherit.”