Ann: Appointment of Managing Director, page-69

Oh ... very sorry to read that, Sally. It is indeed a terrible place we find ourselves in with FFX being in a trading halt for so long so One can not even sell One's shares - even if it would be at a large loss compared to One's buy in price. But some cash back is better than nothing.

However, I continue to be reasonably optimistic that the board can come up with a deal that is better than the 6 cents a share valuation that they gave for the recap deal - which was successful , but as you say, it got pulled blaming the low POG and the Aussie dollar - which to some extent is understandable, but I think there may have been another reason/ other reasons.

They used a figure of lets say to round it up, $1500 to produce an ounce of gold at Morilla for the next 18 months. Their actual figure is up to $1475, so that is why I rounded it up.

The latest POG is $1668 - and it has possibly come off a bottom? So now we are getting into the territory of having a buffer of around an extra $200 per ounce on the production number. So it seems to me that we can make a profit albeit a rather slim profit per ounce even at the POG figure of $1700. But we can be profitable. Its just this need for around $100 mill to get us to this time next year as per the latest presentation. I think during the next few months , there is a good chance that the POG will appreciate a lot from the low of $1633 (i think).

I would have voted yes for that Recap deal.

And by the 4th quarter next year, LLL should be close to initial production, so the LLL share-price should be a lot higher, valuing our LLL holding at a much higher price.

So those are the reasons why I am quite optimistic that the BOD can come up with (another) deal as per my recent posts - either bring in a J/V partner at the project level Morilla and cap raise say half of the resent Recap deal amount, so say $50 mill or by way of loan. Or, sell a %age of future gold to a royalty company. Or a mixture of all those possibilities.

I would still personally consider an outright sale if the price would be right , however as above, if we can get over this and still trade as a company and keep our LLL holding until some 22 months have passed, then we should be in quite a nice position financially.

ALL IMO

and;

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02570933-6A1110634?access_token=83ff96335c2d45a094df02a206a39ff4