Drill rig at Morila. Source: Firefinch
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  • Firefinch (FFX) has been granted a three-year extension to its establishment convention for the Morila gold mine, in Mali, by the Malian Government
  • The convention specifies economic, legal, administrative, social and other terms and conditions that relate to Morila
  • Extending the convention shows the Government of Mali supports Firefinch’s activities in reviving “Morila the Gorilla”
  • The convention sits alongside the mining exploration license for the project
  • Shares in Firefinch were up 7.69 per cent this morning to $0.98 as of 10:43 am AEST

Firefinch (FFX) has been granted a three-year extension to its establishment convention for the Morila gold mine, in Mali, by the Malian Government.

The purpose of the convention is to lay down the general economic, legal, administrative, financial, tax, customs and social terms relating to Societe des Mines de Morila SA (Morila SA), the owner and operator of Morila, which Firefinch acquired in late 2020.

Extending the convention shows the Government of Mali supports Firefinch’s activities in reviving “Morila the Gorilla.”

The convention sits alongside the mining exploration license for the project.

Firefinch said the terms of the convention remain unchanged to allow the ramp-up of activities and gold production at the project.

Managing Director Michael Anderson said it is “fantastic to have a strong relationsip with the Malian Government.”

“Since taking over ownership of the mine, we have worked to deliver on our ‘Mali first’ motto and are pleased to employ a workforce that is 97 per cent Malian,” he said.

“We are very focused on continuing the production ramp-up and look forward to building on our good working relationship with the Malian Government in doing so.”

Shares in Firefinch were up 7.69 per cent this morning to $0.98 as of 10:43 am AEST.

FFX by the numbers
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