And then
if there is a 'potential transaction' to dispose of Morila SA or a corporate transaction (I'd suggest this to be the sale of FFX as a whole - i.e. to include the escrowed share parcel), there then needs to be shareholder approval for either option anyway:
However by the time any deal arises we will be so much closer to the escrow date, and with the 249D alluding to over 20% of SH's looking to wait for escrow, then this never-ending process is a complete waste of time, as the 20% of SHs could act as a blocking stake anyway.
Even less knowledge in when this will be moved forwards. Zero reference to a date to expect a future update, nor for when negotiations can finalise.
And on top of it all, LLL is now in its 2nd suspension, for what actual reason we have no idea.
It is quite evident that the previous mining code should still apply (with possibly some minor amendments), and we have the Kodal example backing this up.
Interesting that Kodal have also stated their goal is to be the first operating lithium mine in Mali - wonder if this has been discussed with the Govt.
The second LLL suspension is not doing anything to alleviate concerned shareholders minds, let alone the market as a whole.
Should have just kept trading, and those who wanted in / out could suit themselves.
The share price would go up / down / sideways, but I can't help but feel that the ongoing suspensions themselves are what is damaging the market's perception and increasing the concerns in regards to that particular company, rather than sovereign risk as a whole.
All other miners in Mali are trading - why not LLL, who has a great product in the ground, is fully funded, under construction, low costs and looks to be headed to production in approx 8 months.
I don't particularly feel as though the suspensions are protecting my shareholding. The SP dropped 50% after the first one for no particular reason - the DSO hadn't been included in the figures anyway, so its not like we had lost anything, plus discussions on DSO are still ongoing, so it's still not a solid No.
I'm just annoyed that I have a decent amount of capital tied up in both FFX & LLL that I cannot access, for what reasons I'm not being made privvy to, and the market are making assumptions/comments based off incorrect comments/analyses to scare the market even further.
Unbelievable to even think I could have sold my entire holding in LLL after the first suspension, put it into CXO and made 25% of it back yesterday alone. Who woulda thought.
(20min delay)