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29/06/22
13:31
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Originally posted by Red Baron:
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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
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To quote your last post: "What a load of rubbish, and you've come to all these conclusions from your armchair..." How anyone takes you seriously beyond is me. Mike was for all purposes fired, hence the payout. He also approved the trading halt himself before being fired so the mine viability is in serious doubt. Keep spinning.