Ann: Government of Mali - Update, page-286

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Charles89

4,994 Posts.

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05/09/23

11:17

Post #: 69734512
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Originally posted by BargainSally: ↑

Basically if FFX management sorted this rubbish out a year ago, we (FFX SH's) would have been able to move onwards in whatever ways we individually saw fit and the perception of LLL would never have been tarnished with the FFX brush.

Now the LLL MC has halved overnight, the escrow shares are suddenly back down to ~10c value, however we now also have FFX forking out huge dollars in international lawyers on top of the already unnecessary $2m quarterly cash burn, thereby reducing our remaining cash at an even faster rate.

Feels like it is now just a race to the bottom on this one.

No chance of a half decent deal now - if SH's were to sign off on 10c, then it should have just been done a year ago - we would have been done and dusted a full year ago.

As the BOD keep saying that if a deal can't be reached, then the cash and escrow shares will be returned to SH's - then do it!

The time is now. Do it now. Cut the cord already.

Once that cord is cut, LLL can have somewhat of a bounce back towards a more realistic MC, and be able to take a breath due to the stench of FFX leaving the room.

New LLL investors sitting on the sidelines will come in to create another (higher) floor, knowing they will be in decent profit on their SP purchases by the time of production in mid 2024, the same time that stuck FFX holders will also be able to decide to either retain or sell our LLL escrow shares and move on from this car crash.

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I agree, FFX BOD pretty much had 1 job to do, which was to protect the value of its ONE AND ONLY asset in the escrowed LLL shares, which at one point in time was worth 20c to us, and they failed to that. I can deal with no Morila and them not even returning the 30m cash.

But with the lack of action for more than 12 months, they have now not only destructed the value of the escrowed shares, but also tarnished LLL's reputation in front of the Mali government, which in return, causing LLL holders to lose another 5% of the JV.

I hope those people that voted for the BOD are happy with this result and can sleep soundly knowning they've just caused you to lose half of your investment overnight.

Last edited by Charles89: 05/09/23

FFX Price at posting: 20.0¢ Sentiment: None Disclosure: Held
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