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29/05/24
10:02
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Originally posted by xfactor1:
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Wouldn't that make the situation worse for FFX holders? Leo Lithium has stated they will pursue legal action against FFX if that does not go through. Assuming that, FFX will then be required to burn even more FFX capital to defend itself. The final outcome will most likely result in FFX paying a much larger figure than AUD $11.5m
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I think I was a bit rash in my point on this front. However I don’t see us voting on this point until the deal has been finalised for the transfer. They highlighted yesterday a likely delay. They almost certainly want the asset (mine) without the balance sheet creditors. FFX would be crazy to off load the asset and keep the balance sheet woes.