Post #389

Pocket Money for Australians🇦🇺 🦘 Australia’s Marvel Gold is getting rid of the Yanfolila gold project in southern Mali, selling it to a local company Askiya Mineral Resources for $1.94 million. Despite its favorable location — close to major routes leading into Guinea — the asset is effectively being sold for next to nothing. ⏩ The reasons are stricter regulations and the country’s ongoing instability. Although Yanfolila lies almost 100 kilometers from the main areas of activity of JNIM, the Australians have probably overestimated the risks, especially given the rather lackluster pace of production. ⏩ Against the backdrop of such news, one may think that Mali is seeing some kind of domestic industry emergence and departure of foreign investors — however, past experience clearly shows that the main players have been, and remain, foreign companies. ➡️ Follow to stay informed - @devilsbelow