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WoodySpoon

10,287 Posts.

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30/07/21

15:39

Post #: 54910799
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Originally posted by Karl89: ↑

I think holders need to be realistic on what’s coming. Demerger DOES NOT always mean free shares. Plenty of time, your holding just gives you privilege of first access to buy some shares.

It’s a poor business model to “give away the farm” to the vast majority of current holders for free. remember also, current holders be if it from FFX holding a substantial share.

so what do we know?

• we know 20% will remain with FFX.

• we know LithiumCo will require capital… no on wants this company to fire up then have to raise a short time down the road. My post highlights the possibility that Ganfeng could be a little sneaky and require us to contribute more to the fund by providing less debt. Ganfeng would no doubt be willing to foot the bill via shares… but it’s not Necessarily a bad thing… incredibly unlikely they would ever sell on the shares pretty much locking up the resister tighter… and yeah, can only assume buy out if they own enough.

•and finally, current holders get some percentage of the remaining. I think 50% is a good base to set expectations. Very possible of less, but any more a valuable bonus.

I think they would be crazy to have over 300m shares offered… if I had to guess, numbers could be as low as sub 150m. Considering it’s all relative, less shares, higher share price it doesn’t really matter. Even as low as 10 to 1 for easy maths would work… Remember, all relevant…if they chose 93m register and FFX holders got 50% free, 20 to 1 for 93m shares total register @$200m market cap… and you had 1m FFX, you would have 50k lithiumCo shares @ $2.15 a share = $107k free shares in you pocket day one of the launch.
rememeber that’s only with a $200m market cap… I hoping, as is everyone, for much higher evaluation.

having a smaller SOI gives the company strength of future raising if for acquisitions or Blow outs or working capital or whatever. Couldn’t agree more, if they are a substantial holder of LithiumCo, 40% owners of Goulamina and 100% offtake partner why have us involved?

since we have operating control, it’s highly likely they will let LithiumCo do their thing and take over once risk drops and the plant is operating.

bacanora a perfect example.

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Nobody is giving us "free shares". We already own it.

I simply disagree with most of what you're saying. It happens. Time will tell.

Cannot see AC and MA giving Ganfeng any of our new li co at all. They'll be protective of it until full value is reached. Unless they are complete numpties, which I don't think they are.

FFX Price at posting: 40.0¢ Sentiment: Buy Disclosure: Held
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Lithium, page-32

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