Firefinch, previously known as Mali Lithium, in September struck a deal with gold miners AngloGold Ashanti and Barrick Gold to acquire the Morila project at a cost of between A$22-million and A$27-million, transforming the company into a cash generating gold producer.

The mine is forecast to produce some 26 350 oz of gold from November 2020 to the second quarter of 2021, with the mine scheduled for closure in 2021. Firefinch has previously said that there was significant potential for near-term growth in production and mine life.

The project is currently producing at an annualised rate of up to 50 000 oz/y recovered gold from tailings, however, Firefinch plans to increase production by restarting openpit mining at satellite pits and at Morila itself.