FFX 0.00% 20.0¢ firefinch limited

I understand the hat perspective, but Simon just stated that...

  1. 327 Posts.
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    I understand the hat perspective, but Simon just stated that FFX's current pursuit of a settlement with the Government is entirely separate from what's happening now with Ganfeng, the Government, and Leo Lithium (which was just settled via a USD $60 million payment).

    Assuming we believe that and follow that logic, the current FFX negotiation with the Government and the AUD $11.5 million payment to LLL for what was just settled regarding the Goulamina project are two separate issues that should not be conflated.

    Until I hear otherwise, I believe my earlier point still stands: it is in FFX's best interest to make this contribution payment as soon as possible to avoid further legal trouble, which would only negatively impact FFX shareholders.
    • Leo Lithium has officially stated and reinforced in conversations with shareholders that if the agreement with FFX is not honored (meaning FFX doesn't make the AUD $11.5 million payment to Leo), they do have a contingency plan to go after them as Leo Lithium will reserve all their rights.
    • If Leo Lithium takes legal action, FFX will likely cite further delays in 'returning capital to shareholders' and the legal outcome may result in more than a AUD $11.5m figure.
    • During this time, as @manny100 pointed out, FFX might receive their 17.6% share of the LLL settlement proceeds, which other creditors (like 'EGTF') may then go after.

    To clarify, I'm not repeating this for your sake, but more so for others like @pier1 whose logic I can't comprehend.

    https://hotcopper.com.au/data/attachments/6206/6206597-a4af9ad1798463bfabc5b334477f5532.jpg

    https://hotcopper.com.au/data/attachments/6206/6206598-01b476eef6a1324ce06db84beeddeed5.jpg
    Last edited by xfactor1: 29/05/24
 
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