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Highlights:
- Firefinch’s managing director, Michael Anderson, has left the company by mutual agreement.
- Yesterday, two non-executive directors left their positions in the firm.
- Shares of Firefinch last traded at AU$0.200 per share, prior to announcing trading halt on 27 June.
Australian gold miner, Firefinch Limited (ASX:FFX) has been witnessing changes in its board lately. As per an ASX announcement made on Wednesday (29 June 2022), Michael Anderson, managing director of Firefinch, has left his position by mutual agreement. He offered his services to the company for 14 months.
Yesterday, the Mali-focused lithium developer had informed the market that Liz Wall and Naomi Scott have resigned from their respective positions of the company. Reportedly, both joined the board a month back (on 30 May 2022).
The company had appointed Naomi Scott and Liz Wall after Brendan Borg left the board to join Leo Lithium’s board. Leo Lithium is a spin-out of Firefinch’s Goulamina Lithium Project in Mali, established in 2021. It commenced trading on ASX on 23 June 2022 under the ticker code ‘LLL’.
Board changes in Firefinch
With the resignation of the managing director, the company has appointed Alistair Cowden as executive chairman, and Andrew Taplin will act as acting CEO, effective from today.
Share performance of Firefinch
Image source: © Nevillepetersenp | Megapixl.com
Firefinch has requested a voluntary suspension in its securities today, pending the release of the Morila Gold Project update.
The shares last traded at AU$0.200 per share.
In a month, the share price of FFX has fallen by 81.82%, and the year-to-date fall is 78.26%. In last one year, Firefinch’s share price has tumbled by 50%.
About Firefinch
Firefinch is a Mali focused gold miner, engaged in increasing the production at Africa’s Morila Gold Mine. The company has exposure to the electronic revolution and lithium with a 20% stake in Leo Lithium.
Details of Morila Gold Mine
The company has a 20% interest in the Morila Gold Mine. According to the company’s official website, it is a cash-generating asset. In 2022, the company is targeting annualised production of 100koz.
