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Firefinch to exit Morila debacle in Mali

THE much-promoted Morila gold project in Mali has been unable to be recapitalised by owner and promoter Firefinch, which now expects the Mali subsidiary that owns 80% of the project, Morila SA, to enter a Malian insolvency process.

Michael Quinn
The Morila gold mine in Mali, which was acquired from Barrick Gold and AngloGold Ashanti

The Morila gold mine in Mali, which was acquired from Barrick Gold and AngloGold Ashanti

Firefinch, which had A$54.5 million at the end of September, has told its subsidiary it is "unable to continue to fund it". While Firefinch expects its investment in Morila SA to be written down to...

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