Firefinch Limited (ASX:FFX) formerly Mali Lithium, has completed the acquisition of an 80 per cent interest in the Morila gold mine in Mali.
The final acquisition price was $38.4 million plus a US$1.2 million adjustment for gold in Dore and in fine carbon.
The parties were advised that the Government of Mali and was supportive of Firefinch efforts to rejuvenate the mine.
Firefinch Executive Chairman, Dr Alistair Cowden, says “We would like to acknowledge the support of Barrick (formerly Randgold) and AngloGold through this transaction.
We look forward to building upon the 7.5 million ounce of gold production legacy we inherit.
The Government of Mali owns the other 20 per cent of Morila.
Shares in Firefinch Limited (ASX:FFX) are trading 1.5 per cent lower at 16 cents.