In Mali, Firefinch chief executive Michael Anderson said operations at the Morila gold mine, located in the south-east of the country, generated positive income of $ 3.4 million in the second quarter of 2021, according to the recently announced quarterly activity report with Stockhead, an agency that publishes information on emerging companies listed on ASX.
In a memo released on July 30, 2021, the Australian company’s chief executive explained that Firefinch is going full steam ahead in its attempt to revive the Morila gold mine. “Site operations generated positive revenue of $ 3.4 million. Open pit volumes were also encouraging with 375 kt of ore, stressing that mining conditions are not hampered by political headlines in the country. Commented Dr. Michael Anderson, Managing Director Firefinch.
In addition, the parent company of the Morila gold mine announced that the first production explosion since March 2015 took place on July 2, 2021. Likewise, mining at Morila Pit 5 began in early May and the initial phases of operation were undertaken with free digging equipment.
The company reported on July 6 production up 21% month-on-month to 5,019 ounces of gold for June, the best month since acquiring the asset. This brings production for the last three months to 12,555 ounces, from 9,970 ounces in the first quarter of 2020.
Note that the company is targeting 170,000 ounces of gold in 2023 and 200,000 ounces of gold per year from 2024. For now, the mine is expected to produce 13,000 to 15,000 ounces in the third quarter of 2021.
