They cannot be distributed, as they are in escrow. A full sale...

They cannot be distributed, as they are in escrow.

A full sale of the company would value the LLL shares at just less than book value I guess - and for that reason alone I would vote no. Blind Freddy can see they will be $2 in about 18-24 months and potentially double that in another two years.

So circa $370 million in 20 months, or $100 mill now. (cant remember the exact no of shares held but that's ball-park) Pretty easy NO vote on a full sale really unless an unexpectedly big offer comes. (Unlikely)

At the risk of being a broken record - if it is a sale;
A project sale for scrip in a buyer like WAF represents best value for SHs IMO. Still some upside to be captured if the project goes as well as many think it can....also an orderly out for those that it. I guess an offer could come in partial cash, partial scrip...IDK.

A Chinese project offer for cash would be dirty low IMO.

Essential they are working on multiple refinancing options at the same time as sale process if they want any leverage at all. Then its down to the best of the possible options for SH to decide ( a sale would require a vote).