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Firefinch Limited (FFX) Report Analysis

Corporate Events

Negative

Firefinch Limited Announces Resignation of Non ...

2022-06-28 00:02:00

Firefinch Limited announced that Ms. Liz Wall and Ms. Naomi Scott, who were recently appointed to the Board of Firefinch, have advised of thei...

Neutral

Firefinch Limited - Special Call

2022-06-21 04:57:00

To consider listing day investor briefing- to provide an update on the demerger and ASX listing of Leo Lithium Limited

Positive

Firefinch Limited completed the Spin-Off of a 8...

2022-06-21 00:00:00

The Board of Firefinch Limited (ASX:FFX) announced the spin-off of a 80% stake in Goulamina Lithium Project on February 9, 2021. Under the ter...

Negative

Firefinch Limited Appoints Liz Wall and Naomi S...

2022-05-29 22:22:00

Firefinch Limited announced the appointment of Liz Wall and Naomi Scott as Non-Executive Directors. Wall is a specialist consultant in Environ...

Neutral

Firefinch Limited Approves Replacement of Constitution

2022-05-27 09:13:00

Firefinch Limited at the annual general meeting held on 27 May 2022, approved replacement of Constitution.

Positive

Firefinch Limited - M&A Call

2022-04-28 23:50:00

Firefinch Limited - M&A Call

Neutral

Firefinch Limited, Special/Extraordinary Shareh...

2022-04-28 23:50:00

Firefinch Limited, Special/Extraordinary Shareholders Meeting, May 31, 2022, at 15:00 W. Australia Standard Time. Location: Celtic Club, 48 Or...

Neutral

Firefinch Limited, Annual General Meeting, May 27, 2022

2022-04-26 08:02:00

Firefinch Limited, Annual General Meeting, May 27, 2022, at 15:00 W. Australia Standard Time. Location: Celtic Club, 48 Ord Street West Perth ...

Neutral

Firefinch Limited Provides Production Guidance ...

2022-04-11 22:21:00

Firefinch Limited provided production guidance for the second quarter, third quarter, fourth quarter and full year 2022. For the second quarte...

Positive

Firefinch Limited Announces Provides Mineral Re...

2022-03-30 22:21:00

Firefinch Limited published the Mineral Resource and Ore Reserve statement for the Morila Gold Project (Morila) for the year ending 31st Decem...

Neutral

Firefinch Limited Presents at 121 Mining Invest...

2022-02-04 03:36:00

Firefinch Limited Presents at 121 Mining Investment Conference, Cape Town, May-09-2022 . Venue: Welgemeend Manor House, Cape Town, South Africa.

Positive

Firefinch Limited Announces High-Grade Drilling...

2021-12-20 21:25:00

Firefinch Limited announced high-grade drilling results at the Morila Gold Project, which indicate the presence of a new high-grade zone on th...

Negative

Firefinch Limited has completed a Follow-on Equ...

2021-12-17 00:00:00

Firefinch Limited has completed a Follow-on Equity Offering in the amount of AUD 100 million. Security Name: Ordinary Shares Security Type...

Negative

Firefinch Limited has filed a Follow-on Equity ...

2021-12-13 00:00:00

Firefinch Limited has filed a Follow-on Equity Offering in the amount of AUD 100 million. Security Name: Ordinary Shares Security Type: Co...

Negative

Firefinch Limited has completed a Follow-on Equ...

2021-11-26 00:00:00

Firefinch Limited has completed a Follow-on Equity Offering in the amount of AUD 51.36481 million. Security Name: Shares Security Type: Co...

Neutral

Firefinch Limited, Special/Extraordinary Shareh...

2021-10-28 08:04:00

Firefinch Limited, Special/Extraordinary Shareholders Meeting, Nov 30, 2021, at 15:00 W. Australia Standard Time. Location: The Celtic Club, 4...

Negative

Firefinch Limited has filed a Follow-on Equity ...

2021-10-25 00:00:00

Firefinch Limited has filed a Follow-on Equity Offering in the amount of AUD 25 million. Security Name: Shares Security Type: Common Stock...

Positive

Firefinch Limited Provides Update on its Operat...

2021-10-21 21:21:00

Firefinch Limited provided an update on the company's operations at the Morila Gold Project. Production during the September 2021 quarter tota...

Positive

Firefinch Limited Provides an Update on Leo Lit...

2021-10-19 21:24:00

Firefinch Limited provided an update on Leo Lithium Limited (Leo) and the Goulamina Lithium Project (Goulamina or the Project). Jiangxi Ganfen...

Positive

Firefinch Limited Announces Malian Government A...

2021-09-29 22:23:00

Firefinch Limited announced it has received a letter of non-objection from the Malian Government to the joint venture (JV) transaction between...

Positive

Firefinch Limited(ASX:FFX) added to S&P Global ...

2021-09-20 00:00:00

Firefinch Limited(ASX:FFX) added to S&P Global BMI Index

Neutral

Firefinch Limited Presents at Africa Down Under...

2021-09-01 03:40:00

Firefinch Limited Presents at Africa Down Under Conference 2021, Sep-02-2021 09:05 AM. Venue: Pan Pacific Hotel, 207 Adelaide Terrace, Perth, ...

Neutral

Paydirt Media Pty Ltd, Africa Down Under Confer...

2021-08-31 23:16:00

Paydirt Media Pty Ltd, Africa Down Under Conference 2021, Sep 01, 2021. Venue: Pan Pacific Hotel, 207 Adelaide Terrace, Perth, Western Austra...

Neutral

121 Group Ltd, 121 Mining Investment Conference...

2021-08-26 20:38:00

121 Group Ltd, 121 Mining Investment Conference, Cape Town, May 09, 2022 through May 10, 2022. Venue: Welgemeend Manor House, Cape Town, South Africa.

Negative

Firefinch Limited Announces Executive Changes

2021-08-22 22:27:00

Firefinch Limited announced the appointment of Nathan Bartrop as Company Secretary, effective immediately. Nathan is a corporate governance pr...

Negative

Firefinch Limited Announces Management Changes

2021-08-22 22:27:00

Firefinch Limited announced the appointment of Tom Plant as Chief Financial Officer. Most recently, Tom spent ten years with Iluka Resources L...

Positive

Firefinch Limited Announces First Drillhole (Mr...

2021-08-17 22:19:00

Firefinch Limited announced that the Company's first drillhole (MRD0001) at the Morila Super Pit, part of Firefinch's 80% owned Morila Gold Pr...

Positive

Firefinch Limited and Jiangxi Ganfeng Lithium C...

2021-08-15 23:44:00

Firefinch Limited announced the Company and a wholly owned subsidiary of Jiangxi Ganfeng Lithium Co. Ltd. (Ganfeng) have executed a suite of f...

Positive

Firefinch Limited Announces Further High-Grade ...

2021-08-09 22:20:00

Firefinch Limited announced that further high-grade results have been returned from the company's ongoing drilling at the Viper Deposit (Viper...

Neutral

Firefinch Limited - Special Call

2021-07-30 03:06:00

Firefinch Limited - Special Call

Neutral

Firefinch Limited Presents at 121 Mining Confer...

2021-07-22 01:54:00

Firefinch Limited Presents at 121 Mining Conference Americas, Oct-13-2021 .

Positive

Firefinch Limited Announces First Production Bl...

2021-07-13 22:23:00

Firefinch Limited announced that the first production blast since March 2015 took place on 2nd July 2021. Mining at Morila Pit 5 commenced in ...

Neutral

121 Group Ltd, 121 Mining Conference Americas, ...

2021-07-01 00:00:00

121 Group Ltd, 121 Mining Conference Americas, Oct 13, 2021 through Oct 15, 2021.

Neutral

Firefinch Limited Presents at Noosa Mining and ...

2021-06-30 18:19:00

Firefinch Limited Presents at Noosa Mining and Exploration Investor Conference, Jul-16-2021 11:30 AM. Venue: Peppers Noosa Resort, Noosa Heads...

Negative

Firefinch Limited has completed a Follow-on Equ...

2021-06-28 00:00:00

Firefinch Limited has completed a Follow-on Equity Offering in the amount of AUD 46.8 million. Security Name: Ordinary Shares Security Typ...

Negative

Firefinch Limited Announces Resignation of Non Executive Directors

2022-06-28 00:02:00

Firefinch Limited announced that Ms. Liz Wall and Ms. Naomi Scott, who were recently appointed to the Board of Firefinch, have advised of their resignation as directors, effective from June 27, 2022.

Neutral

Firefinch Limited - Special Call

2022-06-21 04:57:00

To consider listing day investor briefing- to provide an update on the demerger and ASX listing of Leo Lithium Limited

Positive

Firefinch Limited completed the Spin-Off of a 80% stake in Leo Lithium Limited (ASX:LLL).

2022-06-21 00:00:00

The Board of Firefinch Limited (ASX:FFX) announced the spin-off of a 80% stake in Goulamina Lithium Project on February 9, 2021. Under the terms, Firefinch shareholders being rewarded with free shares in the new entity, Leo Lithium Limited proportional to their existing holding. Firefinch to retain up to 20% of Leo Lithium shares following the demerger. Firefinch will raise approximately AUD 46.9 million by issuing new 117 million shares at AUD 0.4 per share to support spin-off. Firefinch intends to progress a demerger of Goulamina into a separate lithium focused company which is expected to be listed on ASX in 2021. Simon Hay, former Chief Executive Officer of Galaxy Resources, to join Leo Lithium as Managing Director with effect from January 10, 2022. This transaction is subject to meeting ASX listing requirements and securing required regulatory including Chinese regulatory approvals, shareholder and other required approvals. Shareholder Meeting to approve demerger targeted for February 2022. Leo Lithium is expected to list on ASX by the end of the March Quarter 2022. Demerger will be implemented in February 2022. As of October 25, 2021, transaction will be completed in early 2022. Firefinch will now proceed with the demerger of Goulamina. Firefinch Limited advise that a general meeting of shareholders will be held on May 31, 2022. Under the Demerger, subject to shareholder approval, Eligible Firefinch Shareholders at the Demerger Record Date (June 6, 2022) will retain their Firefinch Shares and will also receive Leo Lithium Shares on a 1 for 1.4 basis. In connection with the Demerger, Leo Lithium intends to undertake the following offers set out below and to apply for admission to the Official List and for quotation of the Leo Lithium Shares on ASX. AS per disclosure of May 31, 2022, all conditions to the Demerger, with the exception of Firefinch shareholder approval (to be sought at a general meeting to be held later today) have now been satisfied. As on May 31, 2022, Firefinch shareholders approved the transaction. The deal is expected to close on June 9, 2022. Firefinch Limited (ASX:FFX) completed the spin-off of a 80% stake in Leo Lithium Limited (ASX:LLL) on June 21, 2022. The conditions precedent to the Demerger have been satisfied without waiver.

Negative

Firefinch Limited Appoints Liz Wall and Naomi Scott as Non-Executive Directors

2022-05-29 22:22:00

Firefinch Limited announced the appointment of Liz Wall and Naomi Scott as Non-Executive Directors. Wall is a specialist consultant in Environment, Social and Governance matters with more than twenty years of global experience assessing and addressing social and environmental risks associated with extractive sector projects and investments. Having worked on a number of the largest extractive sector projects in the world, including Simandou, the ExxonMobil Rovuma project, Papua New Guinea LNG, and the Guinea Alumina Project, while also working closely with junior and mid-tier companies she brings pragmatic experience of social and environmental risks and opportunities. Liz recently served as Chair and director of TSX listed Royal Road Minerals. She has significant African experience, having worked in over a dozen countries including Mali, with extensive periods of time spent on the continent. She has provided strategic advice to listed companies and private equity firms, has worked for both the mining industry (Rio Tinto) and major lending institutions (the International Finance Corporation) directly, as well as undertaking corporate governance roles for not-for-profit organisations. Wall is a Rhodes scholar with a Bachelor's degree in Mining Engineering, and Master's degrees in Development Studies and Environmental Management. She is a Fellow and CP (social performance) of the AusIMM and is Chair of the Social Practice Forum. Scott has eleven years of operational experience within the mining sector and over ten years of experience in the design and implementation of United Nations programmes. Ms Scott is a respected authority on investment risk analysis and crisis management in Africa. For the last 6 years Ms Scott has served as Legal Counsel and Country Director Mozambique for Battery Minerals (Australia), which involved managing all aspects of legal compliance in Mozambique and Mauritius, ensuring oversight of legal matters in Australia, as well as securing mining licenses, export licenses, environmental impact plans, multiple road/water/construction/processing permits and a community relocation agreement. Ms Scott was CEO of Anglo American (Mozambique) for four years, a position which, alongside day to day management, focused on business development, project generation, regional project integration and government negotiation. Prior to Anglo, Scott was Regional Director of Metals Africa.

Neutral

Firefinch Limited Approves Replacement of Constitution

2022-05-27 09:13:00

Firefinch Limited at the annual general meeting held on 27 May 2022, approved replacement of Constitution.

Positive

Firefinch Limited - M&A Call

2022-04-28 23:50:00

Firefinch Limited - M&A Call

Neutral

Firefinch Limited, Special/Extraordinary Shareholders Meeting, May 31, 2022

2022-04-28 23:50:00

Firefinch Limited, Special/Extraordinary Shareholders Meeting, May 31, 2022, at 15:00 W. Australia Standard Time. Location: Celtic Club, 48 Ord Street West Perth Western Australia Australia Agenda: To consider approval for an equal capital reduction and in-specie distribution of Leo Lithium Shares (Demerger Resolution); to consider approval of the New Firefinch Awards Plan; to consider approval of potential termination benefit in relation to securities issued pursuant to the New Firefinch Awards Plan; to consider ratification of prior issue of Firefinch Shares; to consider increase in director’s fees; ton consider and approve grant of Firefinch Performance Rights to Dr. Michael Anderson or his nominees; to consider and grant of Firefinch Performance Rights to Mr. Brett Fraser or his nominees; to consider and approve grant of Firefinch Performance Rights to Mr. Bradley Gordon or his nominees;.

Neutral

Firefinch Limited, Annual General Meeting, May 27, 2022

2022-04-26 08:02:00

Firefinch Limited, Annual General Meeting, May 27, 2022, at 15:00 W. Australia Standard Time. Location: Celtic Club, 48 Ord Street West Perth Western Australia Australia Agenda: To consider non binding resolution to adopt Remuneration Report; to re-elect Mr. Mark Hepburn as a director; to consider replacement of constitution; to consider renewal of proportional takeover provisions; and to transact other matters.

Neutral

Firefinch Limited Provides Production Guidance for the Second Quarter, Third Quarter, Fourth Quarter and Full Year 2022

2022-04-11 22:21:00

Firefinch Limited provided production guidance for the second quarter, third quarter, fourth quarter and full year 2022. For the second quarter, the company expects production for the Morila Gold Project to be in range of 17,000 ounces - 20,000 ounces of gold. For the third quarter, the company expects production for the Morila Gold Project to be in range of 30,000 ounces - 35,000 ounces of gold. For the fourth quarter, the company expects production for the Morila Gold Project to be in range of 36,000 ounces - 40,000 ounces of gold. The company maintains its guidance for calendar year 2022 of approximately 100,000 ounces of gold.

Positive

Firefinch Limited Announces Provides Mineral Resource and Ore Reserve Statement for December 31, 2021

2022-03-30 22:21:00

Firefinch Limited published the Mineral Resource and Ore Reserve statement for the Morila Gold Project (Morila) for the year ending 31st December 2021. Morila Gold Project total Mineral Resources of 2.5 million ounces of contained gold: Indicated 27.4 million tonnes at 1.49g/t gold for 1.3 million ounces; Inferred 23.2 million tonnes at 1.56g/t gold for 1.2 million ounces. Total Ore Reserves of 1.1 million ounces of contained gold: Probable Ore Reserves of 23.8 million tonnes at 1.40g/t. Mineral Resource Estimate for Morila Deposit to be updated during Second Quarter 2022 leading to new Ore Reserves and a re-optimisation of the Life of Mine Plan for Morila.

Neutral

Firefinch Limited Presents at 121 Mining Investment Conference, Cape Town, May-09-2022

2022-02-04 03:36:00

Firefinch Limited Presents at 121 Mining Investment Conference, Cape Town, May-09-2022 . Venue: Welgemeend Manor House, Cape Town, South Africa.

Positive

Firefinch Limited Announces High-Grade Drilling Results At the Morila Gold Project

2021-12-20 21:25:00

Firefinch Limited announced high-grade drilling results at the Morila Gold Project, which indicate the presence of a new high-grade zone on the eastern side of the Morila Super Pit. Recent drilling has focussed on the eastern side of the Morila Super Pit targeting potential extensions to historical high-grade intersections and testing areas which were not previously well drilled. Results have been received from three holes including: 5.0 metres at 30.3g/t gold from 294.6 metres, including 1 metre at 128g/t gold; 0.90 metres at 35.9g/t gold from 228.2 metres; 1.15 metres at 31.2g/t gold from 174 metres; 1.2 metres at 18.1g/t gold from 177.3 metres; 7.9 metres at 5.60g/t gold from 313.6 metres, within a wider zone of 22.2 metres at 2.24g/t gold from 299.3 metres, including 1 metre at 31.8g/t gold; 36.6 metres at 2.01g/t gold from 371.1 metres including 4 metres at 4.24g/t gold and 11.1 metres at 2.94g/t gold; 10.5 metres at 1.87g/t gold from 241.9 metres including 4.1 metres at 3.30g/t gold; 10.5 metres at 1.68g/t gold from 155.7 metres including 4.8 metres at 2.51g/t gold; and 6.4 metres at 1.78g/t gold from 188.9 metres including 1 metre at 5.95g/t gold Previous drilling on the eastern side of Morila was relatively wide spaced, with mineralisation interpreted to be offset by a major shear zone. However, the presence of high-grade mineralisation in this drilling suggests this historical interpretation needs to be re-evaluated. The intersections also lie outside the Mineral Resources delineated at Morila. The intersections are down dip of the Morila Pit Mineral Resource and along strike from the Morila NE Mineral Resource . Also of significance are the shallow high grade intersections of 1.15 metres at 31.2g/t gold from 174 metres in MRD0021 and 1.2 metres at 18.1g/t gold from 177.3 metres in MRD0025. If infill drilling confirms this lode is continuous then it will add additional open pittable mineralisation to the Morila resource. Follow up drilling to infill these results and to test for extensions is currently in progress, with drilling already completed between MRD0021 and MRD0025 . Results from this drilling will be used to update the geological interpretation in this area and confirm the likely geometry of these high-grade zones for further drilling. Following this, an update for the Mineral Resources for Morila Pit and Morila NE will be completed. Results were derived using the fire assay technique. Analysis by the more accurate screen fire assay technique is in progress. Four rigs will continue to operate at Morila over the Christmas and New Year period. Drilling is focussed on following up recent and historical high-grade intercepts such as 10.5 metres at 34.0g/t gold in MRD0001, as well as improving delineation of mineralisation within initial mining areas to support Mineral Resources and Ore Reserves upgrades. High-grade zones intersected within this drill programme will provide priority targets for ongoing drilling in 2022. Open pit mining continues to ramp up with primary mill feed currently being provided by the Viper and Morila Pit 5 as the tailings resource is depleted. Pre-stripping activities at the Morila Super Pit will commence in First Quarter 2022, which will facilitate a ramp up in production to levels above 100,000 ounces of gold in 2022.

Negative

Firefinch Limited has completed a Follow-on Equity Offering in the amount of AUD 100 million.

2021-12-17 00:00:00

Firefinch Limited has completed a Follow-on Equity Offering in the amount of AUD 100 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 149,253,732 Price\Range: AUD 0.67 Discount Per Security: AUD 0.0335 Transaction Features: Subsequent Direct Listing

Negative

Firefinch Limited has filed a Follow-on Equity Offering in the amount of AUD 100 million.

2021-12-13 00:00:00

Firefinch Limited has filed a Follow-on Equity Offering in the amount of AUD 100 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 149,253,732 Price\Range: AUD 0.67 Discount Per Security: AUD 0.0335 Transaction Features: Subsequent Direct Listing

Negative

Firefinch Limited has completed a Follow-on Equity Offering in the amount of AUD 51.36481 million.

2021-11-26 00:00:00

Firefinch Limited has completed a Follow-on Equity Offering in the amount of AUD 51.36481 million. Security Name: Shares Security Type: Common Stock Securities Offered: 88,560,017 Price\Range: AUD 0.58

Neutral

Firefinch Limited, Special/Extraordinary Shareholders Meeting, Nov 30, 2021

2021-10-28 08:04:00

Firefinch Limited, Special/Extraordinary Shareholders Meeting, Nov 30, 2021, at 15:00 W. Australia Standard Time. Location: The Celtic Club, 48 Ord Street West Perth Western Australia Australia Agenda: To consider Ratification of issue of Shares; and to deal with any other business which may be brought forward in accordance with the Constitution and the Corporations Act.

Negative

Firefinch Limited has filed a Follow-on Equity Offering in the amount of AUD 25 million.

2021-10-25 00:00:00

Firefinch Limited has filed a Follow-on Equity Offering in the amount of AUD 25 million. Security Name: Shares Security Type: Common Stock Securities Offered: 43,103,448 Price\Range: AUD 0.58

Positive

Firefinch Limited Provides Update on its Operations at Morila Gold Project

2021-10-21 21:21:00

Firefinch Limited provided an update on the company's operations at the Morila Gold Project. Production during the September 2021 quarter totalled 12,149 ounces of gold, with notable milestones including the start of mining at the Viper Deposit and, in the last few days, the commencement of haulage of ore from Viper to the Morila process plant. An intensive drilling programme continues with 5 drill rigs currently in operation. Of these, 4 rigs are drilling at the Morila Deposit (3 Diamond Drill rigs and 1 Reverse Circulation (RC) rig). Drilling is focussed on following up recent and historical high-grade intercepts such as 10.5 metres at 34.0g/t gold in MRD0001, as well as improving delineation of mineralisation within initial mining areas to the west. Third quarter production update: production during the quarter was 12,149 ounces of gold, 7% less than the previously issued guidance. The slight miss on guidance was the result of a wet than forecast wet season impact on mining operations and material handling at the plant. The company has already implemented measures to mitigate potential wet season impacts going forward, with a number of engineering and operational changes made to ensure continuity of mining and processing operations in future years. Pleasingly the average recovery in the third quarter was 75%, well above the second quarter recovery of 63%. The mill head grade also improved to 0.61g/t gold during September from the second quarter average of 0.57g/t gold. As part of a planned improvement to reduce elution stripping and other process costs, gold in the process circuit increased by approximately 1,000 ounces during the quarter. The Morila processing plant continues to operate on a 24 /7 basis with no significant downtime during the quarter. The first planned maintenance shutdown was also completed during the first half of October with no safety incidents and 92% of planned work completed. This is an excellent result from the company’s maintenance team, consultants and contractors. Mining at the Viper Pit commenced during August 2021 and the mining of ore commenced during September. Haulage of ore to the Morila processing plant using a local Malian haulage contractor has now commenced. The availability of Viper oxide ore for blending with Morila Pit 5 fresh ore and mineralised tailings is expected to improve both head grade and recovery and provides optionality to adjust the material fed as needed. Morila NE - Screen Fire Assays Increase MRD0001 Intersection Above 1 ounce/t Results have been received from screen fire assay (a more accurate analytical technique) of the mineralised samples from MRD0001. This has resulted in an increase in the grade of the intersection, with the intersection now reporting as 10.5 metres at 34.0g/t from 309.2 metres. Prior drilling of high-grade structures at Morila returned highly variable results as, based on plant records, up to 40% of gold can occur as free gold. Accordingly, all high-grade samples will now be re-analysed using screen fire assay to ensure higher levels of accuracy in resource estimation. Follow up drilling systematically testing for extensions to the high-grade intersection in MRD0001 is in progress. To date, results have only been received from MRD0002, located 25 metres east of MRD0001, which returned 6 metres at 2.62g/t gold from 324.1 metres. Further drilling will focus to the west and below MRD0001, with results to determine the next target area. Morila Resource Drilling First Results Received Two diamond drill rigs are currently in operation on the western site of the Morila open pit providing additional geological and assay data to inform an update to the open pittable Mineral Resources for Morila (currently 21.2 million tonnes at 1.6g/t gold in the Indicated category and 17.5 million tonnes at 1.37g/t gold in the Inferred category). Results from drilling will inform an update of the Stage 1 pit design, enable the conversion of deep Inferred Resources to Indicated Resources allowing detailed planning of the Stage 2 pit design and provide a further refinement to the mining schedule. Results have been received from six holes from the northwest of the Morila deposit including: 9.2 metres at 3.01g/t gold from 210 metres, incl. 3.7 metres at 6.81 g/t gold from 211 metres (MRD0006); 13.0 metres at 2.20g/t gold from 291.5 metres, incl. 3.3 metres at 6.93 g/t gold from 299.5 metres, and 1.8 metres at 3.84g/t gold from 255.0 metres (MRD0009); 15.3 metres at 1.91g/t gold from 279.7 metres, incl. 6.9 metres at 3.74g/t gold from 288.1 metre (MRD0004); 20.6 metres at 1.64g/t gold from 221 metres within a wider zone of 47.0 metres at 1.05g/t gold from 217.5 metres (MRD0007); 42.0 metres at 1.39g/t gold from 263.9 metres (MRD0006); and 4.4 metres at 1.88g/t gold from 290.5 metres and 11.0 metres at 1.46g/t gold from 336.9 metres (MRD0008). Multiple mineralised zones have been intersected in most drillholes, with results generally in line with those anticipated from the Mineral Resource. Importantly, discrete high-grade intersections have been identified. These will be targeted in follow up drilling, with the aim of better delineating these zones for upcoming resource updates. Both MRD0005 and MRD0007 intersected a tonalite intrusive adjacent to mineralisation. Previous studies at Morila have indicated a strong link between intrusive bodies and mineralisation. It is worth noting that the wider zone of mineralisation in MRD0007 straddles the tonalite contact (logged at 246.5 metres). In addition, broad zones of anomalous gold were logged at the base of the tonalite in both holes (MRD0007: 98 metres at 0.30g/t gold from 292.6 metres; MRD0005: 14m at 0.78g/t gold from 376 metres). A better understanding of the relationship of mineralisation to tonalite intrusions is key to developing a sophisticated geological and exploration model for the Morila gold camp. Drilling will shortly move to the eastern side of the Morila pit. A further 17 diamond core holes for 4,800 metres and a further 10 RC holes for 2,500 metres are planned in the initial resource drilling programme.

Positive

Firefinch Limited Provides an Update on Leo Lithium Limited and the Goulamina Lithium Project

2021-10-19 21:24:00

Firefinch Limited provided an update on Leo Lithium Limited (Leo) and the Goulamina Lithium Project (Goulamina or the Project). Jiangxi Ganfeng Lithium Co. Ltd. (Ganfeng) and Firefinch have formed a Joint Venture (JV) to develop Goulamina. The JV is subject to various conditions precedent and on satisfaction, Ganfeng will contribute USD 130 million in cash to the JV and will arrange up to USD 64 million in debt. Prior to completion of the approvals and other administrative matters, the parties have been working on an update of the October 2020 Definitive Feasibility Study (Updated DFS) which will facilitate the fast-tracking of a Final Investment Decision (FID). Ganfeng and Firefinch have also agreed to commence a major drilling programme. This will be a two year, USD 6 million, significant programme comprising almost 50 kilometres of drilling. The expected lift in reserves and resources is anticipated to rank Goulamina even higher among the largest global lithium projects and is expected to support a multi decade mine at a higher rate of production. On completion of the proposed demerger, Leo Lithium Pty Ltd. to be converted to Leo Lithium Ltd. (Leo or Leo Lithium) will be a standalone company which will hold a 50% interest in the JV with Ganfeng. In connection with the demerger, Leo will seek an ASX listing. Firefinch's strategy to advance Goulamina is to complete all commercial, technical and regulatory matters such that Leo can seek a listing on ASX with an Updated DFS complete, FID made and all funding received from Ganfeng. This will see Goulamina's development substantially funded, engineering and procurement already underway, and importantly, on a clear path to first production in 2023.

Positive

Firefinch Limited Announces Malian Government Approval Received for the Goulamina Transaction

2021-09-29 22:23:00

Firefinch Limited announced it has received a letter of non-objection from the Malian Government to the joint venture (JV) transaction between Firefinch and Jiangxi Ganfeng Lithium Co. Ltd. (Ganfeng) who intend to develop and operate the Goulamina Lithium Project (Goulamina Transaction). The final condition precedent is the receipt of Chinese regulatory approvals which will allow the transfer of the Exploitation Licence for the Goulamina Lithium Project (Goulamina) to the JV company. The Company's advice is that this is imminent. On satisfaction of the conditions precedent, Ganfeng will provide the first USD 39 million cash investment for the Goulamina project, with the remaining USD 91 million to be received following the Goulamina Final Investment Decision (FID). As previously announced on 16th August 2021, Firefinch and Ganfeng are working collaboratively to fast-track an update of the October 2020 Definitive Feasibility Study (Updated DFS). The Updated DFS will enable FID, Ganfeng's second cash investment of USD 91 million, and subsequent debt funding of up to USD 64 million, all to be received earlier than initially anticipated. The Company anticipates completion of the Updated DFS and the FID during the December quarter 2021.

Positive

Firefinch Limited(ASX:FFX) added to S&P Global BMI Index

2021-09-20 00:00:00

Firefinch Limited(ASX:FFX) added to S&P Global BMI Index

Neutral

Firefinch Limited Presents at Africa Down Under Conference 2021, Sep-02-2021 09:05 AM

2021-09-01 03:40:00

Firefinch Limited Presents at Africa Down Under Conference 2021, Sep-02-2021 09:05 AM. Venue: Pan Pacific Hotel, 207 Adelaide Terrace, Perth, Western Australia, Australia. Speakers: Michael Richard Anderson, MD & Director.

Neutral

Paydirt Media Pty Ltd, Africa Down Under Conference 2021, Sep 01, 2021

2021-08-31 23:16:00

Paydirt Media Pty Ltd, Africa Down Under Conference 2021, Sep 01, 2021. Venue: Pan Pacific Hotel, 207 Adelaide Terrace, Perth, Western Australia, Australia.

Neutral

121 Group Ltd, 121 Mining Investment Conference, Cape Town, May 09, 2022 through May 10, 2022

2021-08-26 20:38:00

121 Group Ltd, 121 Mining Investment Conference, Cape Town, May 09, 2022 through May 10, 2022. Venue: Welgemeend Manor House, Cape Town, South Africa.

Negative

Firefinch Limited Announces Executive Changes

2021-08-22 22:27:00

Firefinch Limited announced the appointment of Nathan Bartrop as Company Secretary, effective immediately. Nathan is a corporate governance professional with over 10 years' experience in ASX Listing Rules compliance, corporate advisory and corporate governance. Nathan has assisted numerous listed and dual listed entities across a wide range of industries as Company Secretary. During his career Nathan has also worked as an ASX listings compliance adviser at ASX in Perth and Sydney, where he was actively involved in the new listing of companies on ASX and advising listed entities on their compliance with ASX listing rules. Firefinch's outgoing CFO and Company Secretary, Eric Hughes, will remain as an adviser to the Company supporting the finalisation of the Firefinch-Jiangxi Ganfeng Lithium Co. Ltd. incorporated joint venture at the Goulamina Lithium Project (Goulamina JV Transaction) and the demerger of Goulamina Holdings Pty Ltd. (to be renamed Leo Lithium Ltd) into a separate ASX-listed entity.

Negative

Firefinch Limited Announces Management Changes

2021-08-22 22:27:00

Firefinch Limited announced the appointment of Tom Plant as Chief Financial Officer. Most recently, Tom spent ten years with Iluka Resources Limited. As Treasurer, Tom was responsible for group corporate finance activities, financial risk management and treasury operations. Firefinch's outgoing CFO and Company Secretary, Eric Hughes, will remain as an adviser to the Company supporting the finalisation of the Firefinch-Jiangxi Ganfeng Lithium Co. Ltd. incorporated joint venture at the Goulamina Lithium Project (Goulamina JV Transaction) and the demerger of Goulamina Holdings Pty Ltd. (to be renamed Leo Lithium Ltd) into a separate ASX-listed entity1.

Positive

Firefinch Limited Announces First Drillhole (Mrd0001) At the Morila Super Pit

2021-08-17 22:19:00

Firefinch Limited announced that the Company's first drillhole (MRD0001) at the Morila Super Pit, part of Firefinch's 80% owned Morila Gold Project, has returned 10.5 metres at 30.4g/t gold from 309.2 metres. Drillhole MRD0001 was designed to test for extensions to mineralisation in the north-eastern area of Morila. Prior drilling in this area returned intersections such as 14 metres at 21.7g/t gold from 119m downhole (RCX2814) and 6 metres at 9.0g/t gold from 146m downhole (RCX2995). As detailed in previous announcements, there are numerous high-grade intersections outside the Morila Super Pit which have not been closed off by drilling. There is also minimal drilling below 250 metres from surface, and away from the footprint of the pit, representing a significant opportunity to discover new mineralisation beneath the pit. The Company has already commenced a high-level study into underground mining at Morila and results such as these demonstrate the potential for an underground operation. It should be noted that MRD0001 was drilled from the north, whereas historical drilling was either vertical or oriented to the east. Based on the core intersections, MRD0001 has drilled across the mineralised zone at a high angle close to perpendicular, but the true width of the intersection will need to be determined by further drilling. The Company is confident one of the major mineralised zones that hosted the past spectacular grades at Morila has been intersected.

Positive

Firefinch Limited and Jiangxi Ganfeng Lithium Co. Ltd. Execute Suite of Full Form Legal Agreements to Progress the 50-50 Firefinch-Ganfeng Incorporated Joint Venture At the Goulamina Lithium Project

2021-08-15 23:44:00

Firefinch Limited announced the Company and a wholly owned subsidiary of Jiangxi Ganfeng Lithium Co. Ltd. (Ganfeng) have executed a suite of full form legal agreements to progress the 50-50 Firefinch-Ganfeng incorporated joint venture (JV) at the Goulamina Lithium Project (Goulamina, together, the Goulamina JV Transaction). The Company also announced the new ASX-listed lithium-focused entity will be called Leo Lithium Limited (Leo Lithium). The name Leo was chosen as the lion is an iconic African animal, commonly referred to as 'King of the Beasts', and known for demonstrating strength, authority and fierce pride loyalty fitting for a company run for its shareholders. The components of Lion, Li-ion and the connection to Africa, are very appropriate for a company with a world-class Malian lithium asset. Sundiata Kieta, the founder of the Malian empire in the 13th century was known as the Lion of Mali. On listing, Leo Lithium is expected to be a leader in the ASX lithium landscape: Goulamina will be the next large scale global lithium hard rock project to enter production, and the first of its kind in West Africa, with production targeted for 2023. A partnership with the world's largest lithium chemicals producer Ganfeng, which has committed to taking up to 100% of the spodumene concentrate produced from Goulamina. Substantially funded to production with total funding commitments of up to USD 194 million. Prior to listing, Goulamina is expected to have reached FID and commenced engineering and preliminary works. A current Mineral Resource of 109Mt at 1.45% Li2O for 1.57Mt contained Li2O, with substantial upside potential. Current Ore Reserve of 52Mt at 1.51% Li2O for 0.79Mt contained Li2O. The scale of Goulamina's Resource supports organic growth via further potential expansions in production capacity (subject to market conditions). Developing best-in-class responsible mining (ESG) credentials, underpinned by the Company's existing strong performance at its Morila Gold Operation in safety, local workforce participation, commitment to maximising local expenditure, strong community and government relationships and green power initiatives. The October 2020 Definitive Feasibility Study (DFS) for Goulamina reported a pre-tax NPV (8%) of approximately AUD 1.7 billion using USD 666/tonne 6% minimum Li2O spodumene concentrate; the price is now USD 850/tonne.

Positive

Firefinch Limited Announces Further High-Grade Gold Results from Ongoing Drilling At the Viper Deposit

2021-08-09 22:20:00

Firefinch Limited announced that further high-grade results have been returned from the company's ongoing drilling at the Viper Deposit (Viper), part of the company’s 80% owned Morila Gold Project, as surface mining operations commence. The resource definition drilling programme at the southern end of the Viper Deposit is testing extensions to mineralization along strike and down dip of results previously published. Drilling in this area was brought forward to ensure it did not interact with expedited mining activities. The latest batch of assay results from this programme: 9 metres at 15.1g/t gold from 40 metres (VIPRC141) including 1m at 98.7g/t; 5 metres at 11.7g/t gold from 108 metres (VIPRC155); 18 metres at 2.96g/t gold from 54 metres (VIPRC146) including 3m at 10.6g/t; 2 metres at 12.5g/t gold from 70 metres (VIPRC156); 4 metres at 6.36g/t gold from 81 metres (VIPRC146); 7 metres at 2.13g/t gold from 27 metres (VIPRC144) including 1m at 10.6g/t; 4 metres at 3.31g/t gold from 107 metres (VIPRC147); 10 metres at 1.59g/t gold from 68 metres (VIPRC159); 8 metres at 1.31g/t gold from 97 metres (VIPRC157); and 5 metres at 2.14g/t gold from 63 metres (VIPRC142). Open pit mining operations have commenced at the southern end of the Viper pit design, targeting mineralization which was not mined by previous Morila operations. This material is entirely contained within the Ore Reserve design and is classified as an Indicated Mineral Resource. Grade control drilling has been completed prior to the commencement of mining and results will be used to update the Mineral Resource and Ore Reserve when resource definition drilling has been completed. The commencement of mining operations comes after an expedited schedule of pre-mining activities including grade control drilling, site clearing and topsoil stockpiling, and the upgrade of access tracks. The Company's partnership with Malian owned and operated contractor EGTF has enabled these initial mining works to be completed as a standalone project prior to the mobilisation of the Mota Engil - InterMine (ME-IM) Joint Venture (JV), who have been awarded the contract to mine the Viper and N'Tiola satellite pits as well as stage 1 of the Morila Super Pit. Mobilising both EGTF and ME-IM at Viper allows for accelerated material movement and a positive contribution to the near-term mining schedule.

Neutral

Firefinch Limited - Special Call

2021-07-30 03:06:00

Firefinch Limited - Special Call

Neutral

Firefinch Limited Presents at 121 Mining Conference Americas, Oct-13-2021

2021-07-22 01:54:00

Firefinch Limited Presents at 121 Mining Conference Americas, Oct-13-2021 .

Positive

Firefinch Limited Announces First Production Blast Since March 2015 Took Place on 2 July 2021

2021-07-13 22:23:00

Firefinch Limited announced that the first production blast since March 2015 took place on 2nd July 2021. Mining at Morila Pit 5 commenced in early May, and the initial phases of mining were undertaken with free dig material. Mining has now progressed to deeper benches of ore at Pit 5. This has permitted access to fresh rock which will generate processing optionality with the presentation of fresh, transitional and oxide ores, consistent with the historical mining environment at Morila. Malian owned and operated contractor EGTF has been mining Morila Pit 5, and EGTF has also performed the recent drill and blast activities. All work has been performed injury free, and material movement is progressing on schedule. Pleasingly, both reconciled recovery and grade through the plant have been above forecast. The Morila site team are now undertaking the full suite of mine operations activities safely, efficiently and effectively at Pit 5, in advance of commencing operations at additional satellite pits in August 2021, and the Morila Super Pit (expected first half 2022).

Neutral

121 Group Ltd, 121 Mining Conference Americas, Oct 13, 2021 through Oct 15, 2021

2021-07-01 00:00:00

121 Group Ltd, 121 Mining Conference Americas, Oct 13, 2021 through Oct 15, 2021.

Neutral

Firefinch Limited Presents at Noosa Mining and Exploration Investor Conference, Jul-16-2021 11:30 AM

2021-06-30 18:19:00

Firefinch Limited Presents at Noosa Mining and Exploration Investor Conference, Jul-16-2021 11:30 AM. Venue: Peppers Noosa Resort, Noosa Heads, Queensland, Australia. Speakers: Michael Richard Anderson, MD & Director.

Negative

Firefinch Limited has completed a Follow-on Equity Offering in the amount of AUD 46.8 million.

2021-06-28 00:00:00

Firefinch Limited has completed a Follow-on Equity Offering in the amount of AUD 46.8 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 117,000,000 Price\Range: AUD 0.4 Transaction Features: Subsequent Direct Listing

Fundamental Summary

Firefinch's recently released results from Q4 indicate that Firefinch is performing reasonably well and on par with its peers. We do believe, though, that macro-related market conditions will influence its performance more significantly than its individual results. We therefore gave Firefinch a total score of 71 out of 100 and a HOLD recommendation.

Firefinch reported production results for the first quarter ended March 2022. The company announced strong production performance of 10,874 ounces of gold was delivered for the first quarter of 2022, which is consistent with guidance of 10,000 ounces to 11,500 ounces of gold.

Business Description

Firefinch operates as a gold mining company. It has an 80% interest in the Morila Gold Mine in Mali. The company was formerly known as Mali Lithium Limited and changed its name to Firefinch in November 2020. Firefinch was incorporated in 2005 and is based in West Perth, Australia.

Sector Overview

Firefinch is included in the Metals & Mining according to GICS (global industry classification standard). The Metals & Mining industry is included in the Materials sector. It includes the producers of aluminum, iron, steel, gold, other diversified metals and minerals, and their related products, as well as the mining and production the above materials. Firefinch's industry and sector affiliation are expected to negatively affect their likelihood to overperform the market in the upcoming period, as other sectors appear more likely to benefit from the macroeconomic environment we see now.

Fundamental Highlights


Parameter Value Change Score
Assets 349.2 150.9% 74
Liabilities 97.3 144.6% 78
Price to Book 5.2 262.9% 78
Cash & Equivalents 148.9 762.4% 64
Equity 251.7 158.3% 55
EBITDA -46.0 -18377.3% 62
Total Revenues 109.1 436.3% 87
Parameter Value Change Score
Return on Equity -25.0 -1616.9% 66
Net Cashflow 127.6 847.5% 68
Capital Expenditure -55.1 -1613.3% 76
Asset Turnover 0.4 82.6% 60
Free Cashflow -0.1 -239.0% 69

* All values are TTM

The below chart reflects Firefinch's birds-eye view on its performance with respect to its peers, the company's fillings as reported or to a similar industry, market cap, and country of origin. While Firefinch's peer average final assessment score stands on 65.0, Firefinch's score is 71.

  •  FFX
  •  Peers average
Name Market Cap Balance Sheet Income Statement Cash Flow Rating Final Assessment mc_sort Hidden
BHP Group Limited 208.5B 58 71 75
Hold
69
69 0 1
Fortescue Metals Group Limited 55.0B 65 67 75
Hold
68
68 1 1
Newcrest Mining Limited 19.4B 52 66 57
Underperform
56
56 2 1
South32 Limited 18.7B 84 72 78
Buy
82
82 3 1
Mineral Resources Limited 9.2B 55 63 61
Underperform
56
56 4 1
Lynas Rare Earths Limited 8.3B 70 69 70
Hold
71
71 5 1
Northern Star Resources Limited 8.2B 56 56 73
Underperform
55
55 6 1
IGO Limited 7.8B 50 78 72
Hold
71
71 7 1
BlueScope Steel Limited 7.3B 85 72 52
Hold
72
72 8 1
Pilbara Minerals Limited 6.9B 86 69 86
Buy
83
83 9 1
Allkem Limited 6.9B 57 61 82
Hold
65
65 10 1
OZ Minerals Limited 6.2B 74 66 78
Hold
74
74 11 1
Evolution Mining Limited 4.8B 82 64 50
Hold
64
64 12 1
Alumina Limited 4.4B 50 79 72
Hold
70
70 13 1
OZ Minerals Holdings Pty Ltd 4.0B 84 61 50
Hold
73
73 14 1
Iluka Resources Limited 3.9B 77 60 74
Hold
68
68 15 1
Andean Resources Ltd. 3.7B 86 97 41
Buy
84
84 16 1
Coronado Global Resources Inc. 2.9B 83 74 81
Strong Buy
87
87 17 1
Nickel Industries Limited 2.8B 54 60 70
Underperform
56
56 18 1
AVZ Minerals Limited 2.8B 95 68 58
Hold
75
75 19 1
Sims Limited 2.7B 68 69 82
Hold
74
74 20 1
Zimplats Holdings Limited 2.6B 77 68 64
Hold
71
71 21 1
Liontown Resources Limited 2.4B 81 84 62
Buy
84
84 22 1
Perseus Mining Limited 2.3B 81 65 83
Hold
77
77 23 1
Deterra Royalties Limited 2.3B 77 61 75
Hold
69
69 24 1
Sandfire Resources Limited 1.9B 82 69 76
Buy
79
79 25 1
Core Lithium Ltd 1.8B 83 70 69
Hold
76
76 26 1
Chalice Mining Limited 1.5B 54 81 55
Hold
67
67 27 1
Grange Resources Limited 1.5B 65 64 73
Hold
66
66 28 1
Capricorn Metals Ltd 1.3B 86 69 82
Buy
82
82 29 1
West African Resources Limited 1.3B 87 59 66
Hold
68
68 30 1
Silver Lake Resources Limited 1.2B 66 63 58
Hold
62
62 31 1
De Grey Mining Limited 1.2B 66 47 73
Underperform
53
53 32 1
Gold Road Resources Limited 1.2B 64 67 56
Hold
63
63 33 1
Lake Resources NL 1.2B 66 73 68
Hold
71
71 34 1
Sayona Mining Limited 1.2B 66 73 68
Hold
71
71 35 1
Regis Resources Limited 1.1B 53 53 69
Underperform
50
50 36 1
Piedmont Lithium Inc. 1.1B 88 77 60
Buy
84
84 37 1
5E Advanced Materials Inc. 927.2M 47 58 61
Underperform
51
51 38 1
ioneer Ltd 867.9M 85 69 51
Hold
70
70 39 1
Syrah Resources Limited 856.9M 49 50 69
Underperform
46
46 40 1
Equigold NL 854.0M 50 65 87
Hold
67
67 41 1
Ramelius Resources Limited 828.4M 56 68 62
Hold
60
60 42 1
Vulcan Energy Resources Limited 826.7M 67 78 71
Hold
77
77 43 1
Jervois Global Limited 813.1M 78 71 54
Hold
72
72 44 1
Mincor Resources NL 808.9M 62 77 57
Hold
67
67 45 1
Imdex Limited 796.9M 71 56 74
Hold
70
70 46 1
Bellevue Gold Limited 722.0M 84 69 54
Hold
70
70 47 1
St Barbara Limited 701.5M 53 70 56
Underperform
59
59 48 1
Emerald Resources NL 679.4M 60 68 84
Hold
70
70 49 1
Red 5 Limited 671.6M 47 75 59
Hold
61
61 50 1
Boart Longyear Group Ltd. 651.0M 60 74 68
Hold
69
69 51 1
Mount Gibson Iron Limited 629.5M 48 78 64
Hold
66
66 52 1
Westgold Resources Limited 575.3M 54 65 63
Underperform
58
58 53 1
OM Holdings Limited 563.6M 84 75 82
Buy
85
85 54 1
Australian Strategic Materials Ltd 540.9M 51 74 72
Hold
67
67 55 1
Neometals Ltd 531.9M 60 72 60
Hold
65
65 56 1
Adriatic Metals PLC 528.8M 66 73 68
Hold
71
71 57 1
Argosy Minerals Limited 467.8M 66 73 68
Hold
71
71 58 1
Perenti Global Limited 461.4M 60 78 67
Hold
72
72 59 1
Champion Iron Limited 441.1M 58 71 55
Hold
64
64 60 1
Panoramic Resources Limited 420.4M 58 71 67
Hold
66
66 61 1
Hastings Technology Metals Limited 404.8M 65 68 67
Hold
68
68 62 1
Alkane Resources Limited 402.0M 78 70 68
Hold
73
73 63 1
Centaurus Metals Limited 397.2M 66 73 68
Hold
71
71 64 1
Bowen Coking Coal Limited 385.5M 66 73 68
Hold
71
71 65 1
Jupiter Mines Limited 372.2M 66 81 50
Hold
64
64 66 1
Galan Lithium Limited 362.2M 66 73 68
Hold
71
71 67 1
Talga Group Ltd 359.9M 53 60 62
Underperform
53
53 68 1
BCI Minerals Limited 349.8M 71 68 60
Hold
66
66 69 1
Metals X Limited 344.8M 68 87 68
Buy
82
82 70 1
Pantoro Limited 330.8M 66 73 68
Hold
71
71 71 1
Aurelia Metals Limited 327.8M 65 58 60
Underperform
56
56 72 1
Macmahon Holdings Limited 283.7M 68 65 62
Hold
66
66 73 1
Lotus Resources Limited 277.3M 66 73 68
Hold
71
71 74 1
Andromeda Metals Limited 229.8M 66 73 68
Hold
71
71 75 1

Technical Analysis

When trying to optimize the timing of an investment, it's critical to analyze whether the stock looks overbought or oversold, and in which direction the momentum is moving. Firefinch's stock is now priced below its 5-day, 50-day, and 200-day moving average, while its MACD (moving average convergence divergence) indicates that the stock's price movement momentum is weakening. Historically, this is a negative setup in the near, medium, and long-term. The company is trading near it's 12-month low, which signals it struggle to keep above it support price. Meanwhile, looking at the Stochastic Oscillator and RSI (relative strength index), Firefinch's stock indicates that it's likely oversold. Overall, these technical indicators signal negative momentum. Therefore, this stock received a cumulative TA (technical analysis) score of 42.

Bearish 42
Close Price 0.2
52W Low 0.2
52W High 1.25
5D MA 0.22
50D MA 0.78
200D MA 0.74
MACD -0.18
RSI 0.93
STOCH 0.0

Balance Sheet Analysis

Firefinch appears likely to maintain its strong balance sheet metrics and momentum going forward. In terms of liabilities, Firefinch published good numbers. Their reported liabilities were 97.3, representing a 144.6% change from the previous report. These liabilities changes appear balanced compared to their peers and project the message that management is capable and focused on balancing asset growth, resource allocation, and growing liabilities. These results statistically lead to positive movement in stock prices, so we rated its liabilities movement component 78. Also, Firefinch publishes impressive results related to book value factors in this report. Specifically, price to book ratio (P/B) now sits at 5.2 and represents a 262.9% change from the previous report. Their industry-leading book value factors momentum reinforces an expectation for future positive momentum for their stock price going forward. Consequently, their book value factors movement received a grade of 78. That said, one metric, Equity, stood out as strongly negative. Firefinch published concerning equity metrics for this filing. In the current report, equity stood at 251.7, which represents a 158.3% change from the last report. This parameter often affects companies in the same industry and market capitalization by up to 5.9%. Their equity metrics appear unremarkable relative to their peers. Its equity movement component, therefore, received a grade of 55. Therefore, the company's balance sheet earned a grade of 66.

Parameter Value Change Score
Assets 349.2 150.9% 74
Liabilities 97.3 144.6% 78
Price to Book 5.2 262.9% 78
Cash & Equivalents 148.9 762.4% 64
Equity 251.7 158.3% 55
* All values are TTM

The below chart describes Firefinch's performance as reflected on its balance sheet with respect to its peers. While Firefinch received a balance sheet score of 66, the average of its peers stands on 62.0.

  •  FFX
  •  Peers average
Name Market Cap Liabilities Movement Asset Change Equity/Intangibles Adjustments Cash & Equivalents Book Value Momentum Balance Sheet mc_sort Hidden
BHP Group Limited 208.5B 74 92 47 52 76 58 0 1
Fortescue Metals Group Limited 55.0B 83 66 68 55 69 65 1 1
Newcrest Mining Limited 19.4B 85 72 46 46 73 52 2 1
South32 Limited 18.7B 74 73 80 79 74 84 3 1
Mineral Resources Limited 9.2B 83 73 52 42 90 55 4 1
Lynas Rare Earths Limited 8.3B 74 59 77 62 68 70 5 1
Northern Star Resources Limited 8.2B 87 70 56 48 65 56 6 1
IGO Limited 7.8B 43 37 80 42 63 50 7 1
BlueScope Steel Limited 7.3B 64 75 87 90 68 85 8 1
Pilbara Minerals Limited 6.9B 87 59 81 87 56 86 9 1
Allkem Limited 6.9B 53 64 44 65 89 57 10 1
OZ Minerals Limited 6.2B 87 72 72 69 72 74 11 1
Evolution Mining Limited 4.8B 47 57 76 96 54 82 12 1
Alumina Limited 4.4B 51 69 50 46 84 50 13 1
OZ Minerals Holdings Pty Ltd 4.0B 81 62 51 97 87 84 14 1
Iluka Resources Limited 3.9B 76 66 87 69 53 77 15 1
Andean Resources Ltd. 3.7B 70 37 60 97 92 86 16 1
Coronado Global Resources Inc. 2.9B 44 56 87 85 71 83 17 1
Nickel Industries Limited 2.8B 41 44 72 50 70 54 18 1
AVZ Minerals Limited 2.8B 99 56 82 98 66 95 19 1
Sims Limited 2.7B 85 72 83 49 57 68 20 1
Zimplats Holdings Limited 2.6B 80 69 68 76 73 77 21 1
Liontown Resources Limited 2.4B 43 55 82 97 37 81 22 1
Perseus Mining Limited 2.3B 81 70 73 82 66 81 23 1
Deterra Royalties Limited 2.3B 99 79 61 75 68 77 24 1
Sandfire Resources Limited 1.9B 41 64 87 87 73 82 25 1
Core Lithium Ltd 1.8B 37 55 82 94 66 83 26 1
Chalice Mining Limited 1.5B 98 78 39 46 89 54 27 1
Grange Resources Limited 1.5B 54 70 51 71 92 65 28 1
Capricorn Metals Ltd 1.3B 69 59 81 91 65 86 29 1
West African Resources Limited 1.3B 92 56 81 92 42 87 30 1
Silver Lake Resources Limited 1.2B 69 62 62 71 57 66 31 1
De Grey Mining Limited 1.2B 44 49 79 69 48 66 32 1
Gold Road Resources Limited 1.2B 83 72 56 65 60 64 33 1
Lake Resources NL 1.2B 78 74 55 64 78 66 34 1
Sayona Mining Limited 1.2B 78 74 55 64 78 66 35 1
Regis Resources Limited 1.1B 77 74 51 48 63 53 36 1
Piedmont Lithium Inc. 1.1B 97 54 82 97 39 88 37 1
5E Advanced Materials Inc. 927.2M 44 83 54 45 37 47 38 1
ioneer Ltd 867.9M 98 56 80 86 52 85 39 1
Syrah Resources Limited 856.9M 63 75 38 46 94 49 40 1
Equigold NL 854.0M 57 46 86 50 45 50 41 1
Ramelius Resources Limited 828.4M 67 41 78 48 49 56 42 1
Vulcan Energy Resources Limited 826.7M 39 53 80 74 41 67 43 1
Jervois Global Limited 813.1M 71 71 44 94 95 78 44 1
Mincor Resources NL 808.9M 83 78 43 62 56 62 45 1
Imdex Limited 796.9M 59 69 83 61 75 71 46 1
Bellevue Gold Limited 722.0M 96 56 81 87 42 84 47 1
St Barbara Limited 701.5M 80 69 51 49 61 53 48 1
Emerald Resources NL 679.4M 51 58 80 51 57 60 49 1
Red 5 Limited 671.6M 49 45 39 55 96 47 50 1
Boart Longyear Group Ltd. 651.0M 85 79 39 60 87 60 51 1
Mount Gibson Iron Limited 629.5M 94 76 39 41 74 48 52 1
Westgold Resources Limited 575.3M 77 65 55 47 73 54 53 1
OM Holdings Limited 563.6M 84 69 84 81 50 84 54 1
Australian Strategic Materials Ltd 540.9M 44 69 55 46 84 51 55 1
Neometals Ltd 531.9M 97 77 46 50 97 60 56 1
Adriatic Metals PLC 528.8M 78 74 55 64 78 66 57 1
Argosy Minerals Limited 467.8M 78 74 55 64 78 66 58 1
Perenti Global Limited 461.4M 68 71 51 61 74 60 59 1
Champion Iron Limited 441.1M 66 49 73 47 67 58 60 1
Panoramic Resources Limited 420.4M 78 75 43 58 85 58 61 1
Hastings Technology Metals Limited 404.8M 75 72 56 67 67 65 62 1
Alkane Resources Limited 402.0M 45 56 83 88 40 78 63 1
Centaurus Metals Limited 397.2M 78 74 55 64 78 66 64 1
Bowen Coking Coal Limited 385.5M 78 74 55 64 78 66 65 1
Jupiter Mines Limited 372.2M 63 93 46 52 80 66 66 1
Galan Lithium Limited 362.2M 78 74 55 64 78 66 67 1
Talga Group Ltd 359.9M 90 78 38 45 95 53 68 1
BCI Minerals Limited 349.8M 86 73 58 67 82 71 69 1
Metals X Limited 344.8M 90 77 50 67 80 68 70 1
Pantoro Limited 330.8M 78 74 55 64 78 66 71 1
Aurelia Metals Limited 327.8M 85 69 59 60 72 65 72 1
Macmahon Holdings Limited 283.7M 47 61 72 78 44 68 73 1
Lotus Resources Limited 277.3M 78 74 55 64 78 66 74 1
Andromeda Metals Limited 229.8M 78 74 55 64 78 66 75 1

Income Statement Analysis

Two metrics jump up as the most significant positive drivers of the income statement's strength in Firefinch's recent report: Revenue Efficiency and Return Factors. Firefinch reported highly encouraging numbers for its revenue efficiency. This characteristic can affect companies in the same industry and market capitalization by up to 24.0%. Their impressive revenue efficiency is even more impressive relative to its peers and competitors in the current market. As a result, its revenue efficiency earned a score of 87. Also, In this filing, Firefinch reported a return on equity (ROE) ratio of -25.0, which represents a change of -1616.9%. Its return factor metrics are even more remarkable when compared to their peers. The company's return factors (ROA & ROE) components, therefore, received a grade of 66. On the other hand, EBITDA, jumped out as looking problematic. Firefinch reported concerning EBITDA this period. At filing, EBITDA was reported as -46.0, representing -18377.3% change from the previous period. This metric might have a 20.0 percent impact on companies in the same industry and with the same market capitalization. Their EBITDA metrics are even more problematic when compared to their peers. Its EBITDA movement, therefore, received a grade of 62. Consequently, their income statement earned a rank of 73.

Parameter Value Change Score
EBITDA -46.0 -18377.3% 62
Total Revenues 109.1 436.3% 87
Return on Equity -25.0 -1616.9% 66
* All values are TTM

The below chart describes Firefinch's performance as reflected on its income statement with respect to its peers. While Firefinch received a income statement score of 73 , the average of its peers stands on 69.0.

  •  FFX
  •  Peers average
Name Market Cap Revenue Momentum Earning Movement Return Factors Momentum Income Statement mc_sort Hidden
BHP Group Limited 208.5B 64 79 79 71 0 1
Fortescue Metals Group Limited 55.0B 58 78 75 67 1 1
Newcrest Mining Limited 19.4B 95 45 48 66 2 1
South32 Limited 18.7B 47 94 95 72 3 1
Mineral Resources Limited 9.2B 94 42 44 63 4 1
Lynas Rare Earths Limited 8.3B 50 91 83 69 5 1
Northern Star Resources Limited 8.2B 48 66 68 56 6 1
IGO Limited 7.8B 98 72 48 78 7 1
BlueScope Steel Limited 7.3B 86 71 66 72 8 1
Pilbara Minerals Limited 6.9B 38 96 96 69 9 1
Allkem Limited 6.9B 46 75 74 61 10 1
OZ Minerals Limited 6.2B 48 82 82 66 11 1
Evolution Mining Limited 4.8B 94 46 43 64 12 1
Alumina Limited 4.4B 87 73 76 79 13 1
OZ Minerals Holdings Pty Ltd 4.0B 39 88 45 61 14 1
Iluka Resources Limited 3.9B 50 62 89 60 15 1
Andean Resources Ltd. 3.7B 37 89 91 97 16 1
Coronado Global Resources Inc. 2.9B 39 98 97 74 17 1
Nickel Industries Limited 2.8B 66 61 55 60 18 1
AVZ Minerals Limited 2.8B 87 63 41 68 19 1
Sims Limited 2.7B 45 90 92 69 20 1
Zimplats Holdings Limited 2.6B 94 50 52 68 21 1
Liontown Resources Limited 2.4B 87 78 91 84 22 1
Perseus Mining Limited 2.3B 42 88 83 65 23 1
Deterra Royalties Limited 2.3B 45 83 66 61 24 1
Sandfire Resources Limited 1.9B 64 73 74 69 25 1
Core Lithium Ltd 1.8B 87 47 81 70 26 1
Chalice Mining Limited 1.5B 99 65 76 81 27 1
Grange Resources Limited 1.5B 74 61 61 64 28 1
Capricorn Metals Ltd 1.3B 37 98 97 69 29 1
West African Resources Limited 1.3B 43 84 63 59 30 1
Silver Lake Resources Limited 1.2B 95 42 41 63 31 1
De Grey Mining Limited 1.2B 44 45 76 47 32 1
Gold Road Resources Limited 1.2B 94 48 49 67 33 1
Lake Resources NL 1.2B 87 62 66 73 34 1
Sayona Mining Limited 1.2B 87 62 66 73 35 1
Regis Resources Limited 1.1B 65 50 45 53 36 1
Piedmont Lithium Inc. 1.1B 87 63 68 77 37 1
5E Advanced Materials Inc. 927.2M 74 37 56 58 38 1
ioneer Ltd 867.9M 87 55 60 69 39 1
Syrah Resources Limited 856.9M 38 67 62 50 40 1
Equigold NL 854.0M 79 44 91 65 41 1
Ramelius Resources Limited 828.4M 94 51 48 68 42 1
Vulcan Energy Resources Limited 826.7M 87 67 84 78 43 1
Jervois Global Limited 813.1M 37 94 93 71 44 1
Mincor Resources NL 808.9M 98 57 59 77 45 1
Imdex Limited 796.9M 77 60 56 56 46 1
Bellevue Gold Limited 722.0M 87 44 83 69 47 1
St Barbara Limited 701.5M 93 56 53 70 48 1
Emerald Resources NL 679.4M 37 96 94 68 49 1
Red 5 Limited 671.6M 95 58 66 75 50 1
Boart Longyear Group Ltd. 651.0M 93 58 67 74 51 1
Mount Gibson Iron Limited 629.5M 99 62 66 78 52 1
Westgold Resources Limited 575.3M 84 58 43 65 53 1
OM Holdings Limited 563.6M 50 96 97 75 54 1
Australian Strategic Materials Ltd 540.9M 91 62 66 74 55 1
Neometals Ltd 531.9M 87 66 56 72 56 1
Adriatic Metals PLC 528.8M 87 62 66 73 57 1
Argosy Minerals Limited 467.8M 87 62 66 73 58 1
Perenti Global Limited 461.4M 73 81 87 78 59 1
Champion Iron Limited 441.1M 95 50 45 71 60 1
Panoramic Resources Limited 420.4M 95 50 62 71 61 1
Hastings Technology Metals Limited 404.8M 90 51 53 68 62 1
Alkane Resources Limited 402.0M 68 74 74 70 63 1
Centaurus Metals Limited 397.2M 87 62 66 73 64 1
Bowen Coking Coal Limited 385.5M 87 62 66 73 65 1
Jupiter Mines Limited 372.2M 96 46 50 81 66 1
Galan Lithium Limited 362.2M 87 62 66 73 67 1
Talga Group Ltd 359.9M 87 40 47 60 68 1
BCI Minerals Limited 349.8M 94 47 56 68 69 1
Metals X Limited 344.8M 94 84 79 87 70 1
Pantoro Limited 330.8M 87 62 66 73 71 1
Aurelia Metals Limited 327.8M 68 58 49 58 72 1
Macmahon Holdings Limited 283.7M 88 51 48 65 73 1
Lotus Resources Limited 277.3M 87 62 66 73 74 1
Andromeda Metals Limited 229.8M 87 62 66 73 75 1

Cash Flow Analysis

Firefinch appears likely to maintain its strong cash flow metrics and momentum going forward. Firefinch's management did a great job this period managing its capital expenditure (CapEx). In terms of the raw numbers, CapEx was reported as -55.1, which represents a -1613.3% change from the last period. The company appears to be headed in the right direction regarding resource allocation, exhibiting prudent capital expenditure growth compared to its peers. The company's CapEx movement, therefore, received a grade of 76. Also, Firefinch did a great job related to free cash flow this period, which stood at -0.1, representing a -239.0% change from the previous filing. Companies in the same industry and market capitalization are typically affected by this parameter by up to 4.3%. Their free cash flow situation is all the more impressive relative to their peers and competitors. Consequently, their free cash flow movement received a grade of 69. At the same time, one critical cash flow metric, Asset Turnover, was notably weak. Asset turnover metrics during this period were surprisingly weak. Their reported asset turnover metrics of 0.4, which represents a 82.6% change from the previous report. Companies in the same sector and market capitalization will usually be affected by up to 2.7 percent by this parameter. The company's asset turnover metrics seem especially problematic relative to their peers. Therefore, their asset turnover movement earned a score of 60. Therefore, we scored their cash flow a 68.

Parameter Value Change Score
Net Cashflow 127.6 847.5% 68
Capital Expenditure -55.1 -1613.3% 76
Asset Turnover 0.4 82.6% 60
Free Cashflow -0.1 -239.0% 69
* All values are TTM

The below chart describes Firefinch's performance as reflected on its cash flow with respect to its peers. While Firefinch received a cash flow score of 68, the average of its peers stands on 69.0.

  •  FFX
  •  Peers average
Name Market Cap Cashflow Momentum Free Cashflow Growth Capital Expenditure Growth Assets Factors Momentum Cash Flow mc_sort Hidden
BHP Group Limited 208.5B 70 77 80 71 75 0 1
Fortescue Metals Group Limited 55.0B 74 78 69 74 75 1 1
Newcrest Mining Limited 19.4B 58 48 63 55 57 2 1
South32 Limited 18.7B 72 86 82 75 78 3 1
Mineral Resources Limited 9.2B 58 69 54 63 61 4 1
Lynas Rare Earths Limited 8.3B 78 63 76 58 70 5 1
Northern Star Resources Limited 8.2B 70 58 54 91 73 6 1
IGO Limited 7.8B 80 73 66 57 72 7 1
BlueScope Steel Limited 7.3B 48 47 56 70 52 8 1
Pilbara Minerals Limited 6.9B 87 97 76 78 86 9 1
Allkem Limited 6.9B 75 77 70 84 82 10 1
OZ Minerals Limited 6.2B 69 97 66 73 78 11 1
Evolution Mining Limited 4.8B 54 49 61 39 50 12 1
Alumina Limited 4.4B 68 74 76 70 72 13 1
OZ Minerals Holdings Pty Ltd 4.0B 49 86 84 39 50 14 1
Iluka Resources Limited 3.9B 75 84 52 74 74 15 1
Andean Resources Ltd. 3.7B 40 55 56 37 41 16 1
Coronado Global Resources Inc. 2.9B 77 86 53 93 81 17 1
Nickel Industries Limited 2.8B 75 63 76 61 70 18 1
AVZ Minerals Limited 2.8B 60 69 76 37 58 19 1
Sims Limited 2.7B 83 98 56 82 82 20 1
Zimplats Holdings Limited 2.6B 75 77 63 44 64 21 1
Liontown Resources Limited 2.4B 59 69 76 51 62 22 1
Perseus Mining Limited 2.3B 69 94 90 83 83 23 1
Deterra Royalties Limited 2.3B 77 88 96 51 75 24 1
Sandfire Resources Limited 1.9B 73 85 63 71 76 25 1
Core Lithium Ltd 1.8B 61 69 76 72 69 26 1
Chalice Mining Limited 1.5B 53 62 84 38 55 27 1
Grange Resources Limited 1.5B 75 79 76 62 73 28 1
Capricorn Metals Ltd 1.3B 81 83 81 79 82 29 1
West African Resources Limited 1.3B 73 84 42 58 66 30 1
Silver Lake Resources Limited 1.2B 63 53 64 47 58 31 1
De Grey Mining Limited 1.2B 80 69 76 61 73 32 1
Gold Road Resources Limited 1.2B 57 57 54 50 56 33 1
Lake Resources NL 1.2B 68 69 76 60 68 34 1
Sayona Mining Limited 1.2B 68 69 76 60 68 35 1
Regis Resources Limited 1.1B 65 76 68 69 69 36 1
Piedmont Lithium Inc. 1.1B 59 62 69 54 60 37 1
5E Advanced Materials Inc. 927.2M 55 48 71 71 61 38 1
ioneer Ltd 867.9M 47 57 54 51 51 39 1
Syrah Resources Limited 856.9M 59 58 43 98 69 40 1
Equigold NL 854.0M 91 69 72 84 87 41 1
Ramelius Resources Limited 828.4M 59 56 81 58 62 42 1
Vulcan Energy Resources Limited 826.7M 67 69 76 69 71 43 1
Jervois Global Limited 813.1M 43 51 38 82 54 44 1
Mincor Resources NL 808.9M 63 63 72 45 57 45 1
Imdex Limited 796.9M 71 72 79 73 74 46 1
Bellevue Gold Limited 722.0M 51 64 56 51 54 47 1
St Barbara Limited 701.5M 54 46 71 55 56 48 1
Emerald Resources NL 679.4M 84 81 80 81 84 49 1
Red 5 Limited 671.6M 68 49 48 59 59 50 1
Boart Longyear Group Ltd. 651.0M 62 74 81 63 68 51 1
Mount Gibson Iron Limited 629.5M 68 69 59 56 64 52 1
Westgold Resources Limited 575.3M 59 69 71 59 63 53 1
OM Holdings Limited 563.6M 75 90 90 75 82 54 1
Australian Strategic Materials Ltd 540.9M 72 69 76 69 72 55 1
Neometals Ltd 531.9M 62 54 71 52 60 56 1
Adriatic Metals PLC 528.8M 68 69 76 60 68 57 1
Argosy Minerals Limited 467.8M 68 69 76 60 68 58 1
Perenti Global Limited 461.4M 61 69 54 78 67 59 1
Champion Iron Limited 441.1M 56 69 51 49 55 60 1
Panoramic Resources Limited 420.4M 69 69 79 54 67 61 1
Hastings Technology Metals Limited 404.8M 65 68 74 57 67 62 1
Alkane Resources Limited 402.0M 69 58 68 71 68 63 1
Centaurus Metals Limited 397.2M 68 69 76 60 68 64 1
Bowen Coking Coal Limited 385.5M 68 69 76 60 68 65 1
Jupiter Mines Limited 372.2M 51 51 84 44 50 66 1
Galan Lithium Limited 362.2M 68 69 76 60 68 67 1
Talga Group Ltd 359.9M 53 48 76 70 62 68 1
BCI Minerals Limited 349.8M 62 54 76 49 60 69 1
Metals X Limited 344.8M 70 81 72 55 68 70 1
Pantoro Limited 330.8M 68 69 76 60 68 71 1
Aurelia Metals Limited 327.8M 72 58 54 49 60 72 1
Macmahon Holdings Limited 283.7M 72 53 46 57 62 73 1
Lotus Resources Limited 277.3M 68 69 76 60 68 74 1
Andromeda Metals Limited 229.8M 68 69 76 60 68 75 1

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