General Discussion, page-8122

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Pharrell13

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03/11/23

14:05

Post #: 70713640
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Originally posted by MM0: ↑

Exactly, distinct companies with intertwined history, and overlapping personnel and ownership.
Borg as longstanding (now former) Director of FFX also a Director of LLL
Semega as longstanding (now former) Country Manager of FFX, now Country Manager and GM of LLL
From a Mali perspective the actual entities they're directly engaging with are FFX's subsidiary (via intermediary) Morila SA, and LLL's partially owned subsidiary (via intermediary) Lithium du Mali SA (LMSA). Semega still appears to be the Chair (possibly only Board Member?) of Morila SA as well as the GM/CEO of LMSA.
Ownership of LLL at IPO was 20% by FFX, 70.5% existing FFX shareholders under the automatic distribution, up to 9.5% existing FFX shareholders under the pro rata offer, with any shortfall of that 9.5% taken up by a mix of existing FFX shareholders and institutional investors. Now FFX sold off 2.4% of LLL to an unknown party, and there would have been some trading to new investors. But it feels reasonable speculation to suggest that FFX shareholders probably still hold a majority of LLL (though not a majority of LMSA which is really the entity in question here).

Accepting the terms of negotiations cannot be published at this stage, it baffles me that there isn't an obligation to disclose the nature of the discussions.

Expand

Baffles me how Simon & Rick have allowed this affiliation with the two you mentioned to continue.

Cutting ALL & EVERY tie with FFX is a complete no brainer for me.

You lay down with dogs long enough you come up with fleas.

Unfortunately FFX is very much the dog in this scenario.
Last edited by Pharrell13: 03/11/23

LLL Price at posting: 50.5¢ Sentiment: Hold Disclosure: Held
18 Upvote

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General Discussion, page-8122

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General Discussion, page-8122

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