Doubt, but regardless of who pays - it's not a good look and it's poorly announced.
The entire thesis for not having every cent of our money returned is that Simon has played a bad hand well enough and under his leadership, connections, experience, gangfeng relationship we can get a good deal elsewhere. Eg - Gangfeng knows we can deliver a project on time, with no fuss in trash conditions - partner with us again where we earn in by doing the day to day.
First thing Simon has done has massively rewarded himself for a deal that has left a sour taste in everyone's mouth, while we are still months away from seeing a cent. Yes, it's better that nothing. Yes, he delivered the mine. The job was to deliver the mine for LLL shareholders though, not for external parties. Take pride in getting us some capital back while being very well compensated to not run a mine now.
There is no reason to have a second crack here if we can't trust management to allocate our money better than we would do ourselves.
LLL Price at posting:
50.5¢ Sentiment: None Disclosure: Held
(20min delay)