FFX 0.00% 20.0¢ firefinch limited

249D Post your shares if support. Read the first post before replying!!!, page-70

  1. 4,719 Posts.
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    There does seem to be a good consensus on waiting until the end of March , to see if there is a resolution to the current dilemma. And That time is indeed what the last Announcement outlined with a focus on returning all FFX assets to its shareholders.

    (from the announcement)
    'The Board has decided to commence a strategic review process that will invite suitable bidders to submit proposals to the Company that deliver compelling value and liquidity to FFX shareholders(“Process”). The Company has engaged Treadstone Resource Partners to assist with the Process.

    If the Process does not result in a transaction that delivers attractive value and liquidity to FFX shareholders, the Company intends to return a majority of its current cash to shareholders as soon as possible post termination of the Process. Following the return of majority of the current cash to shareholders FFX will then distribute all LLL shares currently held to FFX shareholders when they are released from the escrow in June 2024 as per ASX requirements. Timing The Process will commence immediately, and the Board will provide an update to shareholders before the end of March 2023.'

    https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02612411-6A1128349?access_token=83ff96335c2d45a094df02a206a39ff4

    Personally I would like the company to be sold like yesterday and I suspect many other share holders are of the same view and i also suspect as that the LLL board are very concerned about the situation - since I now agree that the current quagmire is likely impacting negatively to some extent on the LLL share price.

    So its starting to boil over now on the impacting the LLL share price and reading the posts here over last couple of days, that a lot of people have quite considerable capital tied up.

    I am not happy that the process outlined in the above company announcement, has a time line to the end of March , for either a sale or to then distribute the remaining cash back and then wait until end of escrow etc. The good aspect of this thread is that it shows that a very large percentage of shareholders are really very annoyed about this whole debacle dragging out for some seven (?) months so far and seemingly likely to drag on for more months - in other words , this needs to be bought to a conclusion now with hopefully a sale of FFX.

    However, I am cognizant of the fact that any potential sale would need negotiation regarding the best interests of all concerned including LLL, which would necessitate a need for time to execute.

    So in summary, it seems apparent that shareholders are ok with the current time frame to end of March , but would absolutely prefer a resolution very much sooner that would be a sale of FFX and not a situation where this drags on for many more months. I really hope that the board have this in the foremost of their considerations.
 
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