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    FFX   AU0000114522

FIREFINCH LIMITED

(FFX)
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Delayed Quote. Delayed Australian Stock Exchange - 01/16 11:35:36 pm
0.725 AUD   -2.03%
01/12Gold miners in Mali see no immediate sanctions impact
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01/12Gold miners in Mali see no immediate sanctions impact
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01/12Firefinch's Operations Not Impacted by Sanctions on Mali
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Australia's Firefinch sees output at Mali lithium mine by early 2024

11/18/2021 | 01:10pm EST

BAMAKO, Nov 18 (Reuters) - Australian lithium miner Firefinch Ltd expects its Goulamina project in Mali to start production in late 2023 or early 2024, its country director Seydou Semega told Reuters on Thursday.

The company foresees annual production of over 436,000 tonnes of spodumene concentrate, the ore from which lithium is extracted, making Goulamina one of the largest developments of its kind in the world.

Semega said the project had seen some delays because of the coronavirus pandemic.

"Now things are returning to normal," he said on the sidelines of an industry event in Bamako.

Lithium prices have soared this year as automakers invest billions of dollars in a transition to electric vehicles, boosting demand for batteries which use lithium.

Construction at Goulamina should start in the second quarter of 2022 and last 18 months, after which production will start in late 2023 or early 2024, Semega said, forecasting output of 450,000 tonnes per year over the project's 23-year projected lifespan.

In June, Firefinch signed a deal to jointly develop and operate Goulamina with China's Ganfeng Lithium, one of the world's top producers of the mineral. Under the deal, Ganfeng was going to invest $130 million for a 50% stake.

Firefinch is due to make a final investment decision (FID) on the project in December - a key condition for Ganfeng to make $91 million of its funding available. (Reporting by Tiemoko Diallo Writing by Alessandra Prentice Editing by Marguerita Choy)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
FIREFINCH LIMITED -2.03% 0.725 Delayed Quote.-14.45%
GANFENG LITHIUM CO., LTD. 1.15% 128.63 End-of-day quote.-9.95%
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Financials
Sales 2021 106 M 76,6 M 76,6 M
Net income 2021 -17,4 M -12,5 M -12,5 M
Net Debt 2021 - - -
P/E ratio 2021 -37,0x
Yield 2021 -
Capitalization 872 M 630 M 629 M
Capi. / Sales 2021 8,20x
EV / Sales 2022
Nbr of Employees 1
Free-Float 100,0%
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Mean consensus BUY
Number of Analysts 1
Last Close Price 0,74 AUD
Average target price 1,55 AUD
Spread / Average Target 109%
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Managers and Directors
Michael Richard Anderson Managing Director & Director
Tom Plant Chief Financial Officer
Alistair Cowden Non-Executive Chairman
Andrew Taplin Chief Operating Officer
Brendan Borg Independent Non-Executive Director
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