An unknown West African mining contractor executed non-binding indicative term sheet to acquire Morila Limited from Firefinch Limited.

An unknown West African mining contractor executed non-binding indicative term sheet to acquire Morila Limited from Firefinch Limited (ASX:FFX) on June 30, 2023. Firefinch is now focused on working closely with the Proposed Purchaser on negotiating full form binding transaction documents, in parallel with the Proposed Purchaser’s work to finalise its due diligence. The sale of the interest in Morila will be for nominal consideration.

The non-binding term sheets contemplate certain conditions precedent, including Firefinch obtaining shareholder approval. In related acquisition, the unknown buyer has also executed non-binding indicative term sheet to acquire Birimian.