Well had a good read, on what’s turned out to be a busy day with this, LLL webinar and i had another webinar aswell.
ASSETS
As expected, escrow is escrow.
$38m left, surely they can get to escrow and wind up with $8m (thats being very generous). So maybe $30m to distribute if no offer.
PROCESS
Key bit to me is “delivers attractive value and liquidity”.
Maybe an offer, but I’m not convinced someone is going to offer too much premium 17 months out from first SC6 production at Leo (May 2024 according to Simon today). Thats an eternity as an investment.
The liquidity element could be that one of the offers could be a facility to broker selling your FFX share off market in a controlled, secure environment. I will be ok with leaving if guaranteed LLL distribution, but some will need the cash Im sure.
I did like “FFX will then distribute all LLL shares currently held to FFX shareholders”
However, CGT on these /. Tax implications will be quite important.
FINANCIAL ACCOUNTS
”This work has commenced with the half yearly report expected to be published by February 2023”
and Tom Plant is now at LLL (shakes head).
TRADING
To me there is no guarantee this will trade again,
”Once the Company is up to date with its periodic reporting obligations, it will then engage with ASX as a priority regarding the suspension of the Company’s securities and the on-going requirements for quotation on ASX”