If we took legal action then we'd never see the outstanding...

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dazaliam

5,940 Posts.

1949

22/01/24

01:05

Post #: 71990131
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Originally posted by franky1 ↑

Hi@WoodySpoon

The phrase “ they are over a barrel” is really apt here.

Think about it for a minute.

This has always been about how much money the Government of Mali can squeeze out of FFX and LLL for tipping in $250,000,000 and prolonging the life of the mine by 4 years.

There’s a limit to how much they can squeeze and we may see what that limit was very soon.

As for the suggestion of international arbitration, I’m afraid that is a course of self destruction in any way you view it.

If investors can’t be confident that a Government won’t allow companies to invest with confidence they will simply flee those comapanies, countries and governments.

They can do a GFY.

It wouldn't be unreasonable at all if the FFX board told the Malian Gov to shove that idea up their jaksie.
In fact it's probably the moral response, AND the legal one. Especially if neither FFX nor LLL reclaim possession and are able to sell the mine, and/or it's equipment/plant at current market value.

Leo shareholders would be justified in suing the Junta under these circumstances IMHO using the ISCID. For starters the illegal border taxes about to some $30-$40 mill from memory. And this upcoming payment can be reasonably classified as extortion - looks to be another $35 mill? IDK. Then their is the forced sale to their preferred bidder only - restraint of trade. All pretty clear cut and easy legal victories if an independent arbitor looks at it IMHO.

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If we took legal action then we'd never see the outstanding permits = GAME OVER. It's their resource/country so we play by their rules. If it get's to the point of not making $ then go down the legal route.

LLL Price at posting: 50.5¢ Sentiment: Buy Disclosure: Held
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If we took legal action then we'd never see the outstanding...

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If we took legal action then we'd never see the outstanding...

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MiningNews Select Conference: Look further afield for funding projects, advises Rick Rule

MiningNews Select Conference: Smooth permitting, strong teams the key to project success and reaching demand

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