Firefinch Ltd (ASX:FFX) (FRA:N9F) has been granted a trading halt by the ASX pending an announcement regarding a development partner for the company’s Goulamina Lithium Project in the Bougouni Region of southern Mali.
The halt will remain in place until the beginning of regular trade on Thursday, June 17, or when an announcement is released to the market, whichever occurs earliest.
Plans to demerge Goulamina
Firefinch plans to demerge Goulamina into a separate ASX-listed entity.
In the March quarter, its focus was largely on supporting the Macquarie Capital (Australia) Limited-led process to identify funding and partnership opportunities.
The process is well underway with numerous parties engaging in a review of the Project data room.
The company is hopeful of being in a position to announce a definitive outcome to the Macquarie-led process during the June quarter.
The move will allow Firefinch to focus fully on the Morila Gold Mine, also in Mali.