Good points there , Fooca.
Broadly, I just tried to point out that Morilla itself (the plant and surrounds), is I think , still a quite good 'proposition' for a new owner to take on. It has an almost completely? refurbished plant. there is a nice resource of gold.
To my mind, effectively a new owner would/could purchase the 'lot' for $1 and take on the debt - which might also either in its entirety or in part, may be transferred to an equity stake at the project level.
In other words, I can't see too much of an issue - especially if we 'give' the cash on hand (which is now $30 odd mill?), to go towards any ongoing environmental costs or a bond etc...
(I was really keen on getting even 2 cents a share back from the cash on hand. However, if FFX has to use it to 'seal a deal of purchase', then so be it).
The 1% royalty. It doesn't really matter to me either way and as you point out, it would not be worth much money anyhow at a lowish POG environment. I suppose it really depends on whether the board think they can get a deal to sell FFX , over the line. As you rightly point out, if there is no vehicle to send a theoretical royalty to, then it is not a valid proposition.
ALL IMO
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