Ann: Initial Director's Interest Notice - Rick Crabb, page-30

I think the 60% discount of LLL to peers is reasonable currently. I imagine if FFX wasn't in this predicament the discount would not have existed. Yes there are Sovereign risk but managerial risks. The top rated managers tend to remain in Australia whilst the more spec managers operate in more dubious jurisdictions.

If you recall FFX board imo were less than transparent regarding their operations. If they weren't as bullish, I would not have bought more at the split and wait to pick them up cheaper at 40c on the open market. Therefore I suspect lots of retail investors are waiting to see 2-3 of operational execution before really going big.