Firefinch non-executive director shows confidence in gold and lithium strategy with on-market purchase

Firefinch Ltd (ASX:FFX) non-executive director Brendan Borg has demonstrated his confidence in the company’s gold and lithium strategy with an on-market purchase. On June 30, Borg acquired 150,000 shares worth $59,000 in an indirect interest, increasing his total number of securities held in that interest to 12.65 million shares. $47 million placement Earlier this month Firefinch completed its equity raising placement, bringing in $47 million to accelerate development at its Morila Gold Mine and progress the Goulamina Lithium Project demerger. The gold miner and lithium developer unveiled the placement last Thursday, announcing its intention to issue around 117 million new FFX shares at 40 cents apiece. Firefinch revealed the placement attracted high demand, garnering strong support from new and existing investors. A mix of domestic and offshore institutions took part in the raise and joined the FFX register. With the placement proceeds in tow and a major debt facility likely, Firefinch hopes to grow annual gold production at ‘Morila the Gorilla’ to 200,000 ounces a year by 2024 and gain value from its Goulamina lithium asset.