I posted this on the Leo thread, got a bit sidetracked, so it probably has more relevance here.
That's a distinct possibility, or from a 3rd party. (reply re FFX takeover)
When you consider our 20% holding in LLL is worth about 12c a share Even at pre trading halt/suspension prices that only leaves 8c a share for the gold. At current prices Leo is trading at, a big discount, so that 12c a share should be a lot higher.
They started mining the super pit at the beginning of May so would have had a good idea as to the grades well before now.
It does sound like the operational/guidance reasons stated for the suspension are not the main reason we're in a halt, which has more to do with the Board & Management resignations. They can hardly request a halt because "we think the CEO might resign" and then have it resolved.
The 2 new NEDs who resigned are non operational types unlike Fraser/Gordon, so you'd have to assume they would not leave just because we missed a guidance target, could be something as simple as a pay dispute.
I'm starting to think this plant operational & guidance update might be very minor & just a guise to halt while whatever is going on with Management & the Board is sorted.
Meant to add, at the AGM/GM Alistair went out of his way to say what a good job Mike is doing
FFX Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
