Strong gold, lithium start to year for Firefinch

NEW gold miner Firefinch has been buoyed by strong initial production from its Morila operation in Mali and a strong lithium market continuing to emerge as it looks at divestment options for “one of the world’s best undeveloped and uncommitted lithium assets”.
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Morila, a former AngloGold Ashanti-Barrick asset in Mali now owned by Firefinch

Firefinch said an update on the Goulamina lithium project in Mali could be expected in "coming weeks".

A pre-tax NPV for the project of A$1.7 billion was estimated late last year.

Meanwhile, Morila in Mali has produced 7683 ounces since being acquired by Firefinch in November and the company is maintaining guidance for the current March quarter of 10,000-10,500oz.

Cash and gold on hand at the end of December was $33 million.

Firefinch is treating tailings at the large scale Morila operation and is planning on mining satellite pits before undertaking a development reboot of the large-scale, mainstay deposit.

Shares in Firefinch were up 17.5% to 23.5c in morning trade, capitalising the company at $184 million.