Firefinch (ASX:FFX) has announced the Commercial Court of Bamako, Mali has temporarily suspended all individual proceedings against Morila SA and has ordered an expert to prepare a report on the financial and economic situation.
Firefinch is the 80% shareholder of Société des Mines de Morila (Morila SA), the Malian company that owns and operates the Morila Gold Mine.
The company is seeking to find a new owner for Morila SA, and is also conducting a strategic review process to deliver value and liquidity to its shareholders.
Firefinch says it's not a party to the proceedings and the Morila Gold Mine is continuing to operate, and an update will be provided before the end of March 2023.