General discussion, page-7481

I doubt very much existing shareholders have an appetite to fund another $70 million into Morillla - which yet again dilutes the bejesus out of the LLL holding. Well retail portion anyways. I'd have to think we need at least $50 mill and a contingency to keep it going to profitability.

I'd much rather something like selling the Morilla project to WAF for scrip - distributed to FFX holders. There would be upside to WAF over the next few years, both from Morilla & their existing projects. They'd have the management team, & operational types to ensure Morilla is managed properly. No need for us to find a new executive team from the very shallow talent pool in Perth. FFX goes into hibernation, even delist to save money and distribute the LLL shares at the right time. The only issue I see is extracting enough value from WAF in the transaction given there are limited options...I'd snap their hands off accepting $150 mill equivalent in scrip if offered it for my shares (LLL holding treated separately) tbh.