EXPLORATION & DEVELOPMENT

Satellite ounces added to Firefinch's Morila gold venture

Operation in Mali is in growth stage

 Mining at Viper, Mali

Mining at Viper, Mali

Viper has 3.3 million tonnes at 1.15 grams per tonne gold for 119,000 ounces and N'Tiola has 2.9Mt at 1gpt for 96,000oz.

Firefinch said total resources for Morila are now 2.5 million ounces.

Firefinch expects to produce about 100,000oz this year at Morila, up from a 45,000oz run-rate last quarter.

Ultimately the aim is to average about 160,000ozpa for 10 years at all-in sustaining costs of US$1124/oz, including more than 200,000oz in 2024.

Firefinch is currently in the process of spinning out its substantial Goulamina lithium deposit in Mali into new company Leo Lithium.

In December it raised A$100 million by issuing new shares priced at 67c each.

Shares in Firefinch were up 5% to 94.5c in early trade, capitalising the company at $1.1 billion.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

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