FFX is paying 20mil for their 20% share, from the prospectus they've already spent 10mil on LLL which they will pay back, so net is 10mil out of FFX's bank account.
Doesn't change much of your thought process but at sub 80s and even 90s, going to look like value for buying FFX on market rather participating through the 10:1
Ann: Letter to Shareholders - Leo Lithium Priority Offer, page-12
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