The Firefinch purchased its interest in the Morila Gold Mine in November 2020 from Barrick Gold Corporation (Barrick) and AngloGold Ashanti (AngloGold), who each held an effective 40% interest in Morila with the State of Mali owning the remaining 20%.
As announced on 2 June 2023 , non-binding indicative term sheets were executed with a number of a suitable parties for the purchase of the Company’s interests in Societe des Mines de Morila SA. These non-binding term sheets form the basis for negotiation of a definitive sale and purchase agreement in relation to 100% of Firefinch’s shares in Morila Limited (which in turn holds 80% of Morila SA).
Firefinch has selected a substantive West African mining contractor (“Proposed Purchaser”) as the preferred bidder out of the parties that executed non-binding indicative term sheets to acquire the Company’s interest in Morila SA.
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