Sorry all but I really think some of you need a reality Check.
Some of the Stuff I read on here about Alistair / Bod is just wrong.
Many must have very short memories.
This company was o its ass a number of years ago when Lithium was not in favour and the outlook for the business looked bleak. We went through a succession of BOD caretakers that had no to little vision for the business. I was a requisitioning member on the initial 249D and they road past that was not easy.
Alistair was the only one that had the balls and vision to take a punt at giving Shareholders a future.
During his rain he;
Had a dream of securing morila, at the time we all believed it would be a cash cow.
Managed to secure Gangfeng as a partner for our Lithium
and drive the splitting off the business into 2 separate companies.
Yes some of the plans have not played out as hoped, but that is business. The things outside their control were embargo's in mali, weak OZ dollar and gold price.
Could they have done things differently, always different paths to choose.
And yes I believe they maybe took their eye off the Morila ball during the de-merger process.
Personally it is looking pretty bleak for FFX, I am hoping they can come up with something that allows FFX to continue for the next few years. My plan would be;
Find a way to secure a lone against the Escrowed shares, this is currently prohibited but surely if the business is going to admin there must be a provision to do something with that escrowed stored wealth. NO FURTHER RIDICULOUS DILUTION TO EXISTING HOLDERS.
Put Morila into care and maintenance, its pointless running in this environment with low OZ dollar and Gold price dropping. No great for the locals but reality is we are not a charity.
Cut the business down to minimum out going's for the the next few years and wait for LEO to come online and the LEO shares to increase in price.
Provide stability on the FFX side so there is nothing negative flowing across to Leo
This in itself should lift FFX SP.
Sell small portion of Leo shares in few years to payout loan.
Re - access Morila situation in future when conditions maybe more favorable.
Had my rant.
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FFX Price at posting:
20.0¢ Sentiment: None Disclosure: Held
