General discussion, page-1925

Some food for thought, or humour an old fart:

~ The Corporations Act requires that 28 days notice be given of a meeting, if the Company make an announcement tomorrow 21/1, that will put the meeting date the 18th Feb at the earliest. They were already progressing regulatory requirements and documentation preparations, and should have commenced the formal timetable now that the FID has been made. Throw in another 4 weeks + for the prospectus/entitlement offer to be completed and we are looking the end of March for a listing date (at the earliest)

From the recent placement announcement, the Company indicated they will retain up to 20% of the issued capital of Leo following the demerger.
~ the entitlement / IPO ~ (IMO) obviously the asset test for listing will be used, if it is the intention to raise $50m ($10m/$40m) we could/can guesstimate the amount of SOI at listing.
~ Based on your theory to raise $50m, shouldn't the calculation be 50m/1.18b? because the company is also buying their allocation making it $0.0424 cents worth of Leo for every FFX share held. 100,000 FFX shares entitles to to purchase $4,240 worth of Leo ......
Listing (i) @$0.20c = 21,200 Leo shares = 250m SOI (ii) @$0.50c = 8,480 Leo shares = 100m SOI, which is for the entitlement only, then we need to add the in-specie shares to the SOI ~ using the same formula would that make 1 LLL share for every 4.5 FFX shares?

Chalice Mining recently demerged their gold (Falcon Metals) with an in-specie distribution:
~ Sequence of events: the priority / shortfall offers were closed before the in-specie record date, from lodgement of the Prospectus with ASIC to listing was approximately 7 weeks.
Falcon Prospectus ~ https://falconipo.thereachagency.com/offer/prospectus/
Chalice mining letter ~ https://hotcopper.com.au/threads/ann-letter-to-shareholders-falcon-metals-priority-offer.6416279/



We are getting closer, the above may give readers a better understanding of the in-specie, priority offers, time lines, calculations, etc
Im still lost, but only had one coffee this morning

cheers