Ann: Resignation of Executive Chairman, page-51

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You3OAte

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11/07/22

23:57

Post #: 62484296
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Originally posted by Clymene: ↑

It seems to me that there is general consent that the JORC reserves/ resources are fairly solid (quarterly will reveal) and a mix cash and experienced COO, CFO, MD and Board is required to guide the operation.

There is one highly obvious funding solution not being considered. Sell FFX remaining LLL holding as a block off market as a corporate transaction along with continued escrow obligation.

FFX gets cash injection, LLL is set free of association with FFX if Dr Cowden (and others) steps down from LLL

Whilst FFX value may be diminished as result of disposal of LLL interest it does provide a first step in the series of fixes that need to be undertaken at FFX and avoid the full prospectus disclosure route and DD that needs to be undertaken under Australian Corporate Law triggered by the period of suspension of stock over the last 12 months.

I do hope Brett Fraser considers this as a possibility.

No existing shareholders will be benefit from a prolonged discounted Capital raise process.

The only people who win in a winding up are the liquidators not shareholders if thats the path you want to go.

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FFX does not have Reserves as defined by the JORC code where Ore Reserves are defined as the economically mineable part of Measured and Indicated Mineral Resources. We are not even close to economic.

FFX Price at posting: 20.0¢ Sentiment: None Disclosure: Held
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Ann: Resignation of Executive Chairman, page-51

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