LLL 0.00% 50.5¢ leo lithium limited

Ann: Request for Extension of Voluntary Suspension, page-154

  1. 9,566 Posts.
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    LOL - why would FFX do that, when they can pay none of it?

    There is no chance anyone is going to pay off creditors IMO, there might be some concession on a rehab bond though. I imagine LLL might contribute to paying half those costs as they are the only ones with a stake left in Mali. FFX can simply drag this on until next year and wind the company up distributing its assets to shareholders before any legal avenues Mali might have are even close to breaking through the agreements between Morilla SA, to the Jersey holding company, and then finally to FFX. That's years of litigation and it would fail.

    Incredible the Mali gov think they have a right to anything more than a contribution to the rehab bond to be honest. FFX sunk $200 million into Morilla and the community surrounding it, losing the lot, and they still want more?? Incredible.

    Be interesting to see what kind of compromise is reached.
 
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