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Sphinta

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28/05/22

17:33

Post #: 61680505
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Originally posted by franky1: ↑

Hi all,

I attended the AGM yesterday and share the below as I understand it.

1. Capital Di director will take a wider role. ?? Undefined.

2. Two New Directors to be appointed Monday.
Exceptional experience in Africa and beyond. I hope they’re female.

3. Presentation on Tuesday. EGM time.

4. There was an uncomfortable exchange between a shareholder and MA/AC.
Respect of the directors and staff should always be paramount imo.

5. Contract for ball mill about to be signed.

6. FFX will be cash flow positive early next year.

7. FFX - No cap raise atm. (We’ve all heard that before. But has been good last 12 months.)

8. Debt is expensive for projects in Africa.

9. Instos now own 37% of the register and will increase after the shortfall offer imo.

10. FFX’s holding of 20% of LLL is escrowed for 24 months.

11. ATO ruling question - Answer - Stay tuned.

12. Frustrating conditions in getting all approvals for demerger.

13. Convention extension was a hold up of debt funding -sprott etc,
Company went the expand the SOI and cap raises.
Fair enough imo.

14. Moving Forward - I think this company is in the best place it has been in the last 8 years that I’ve held various amounts of shares.

15. Let’s be honest now with ourselves.
Anyone who hasn’t profited from BGS/MLL/FFX and isn’t happy with the direction of the company or the board I would ask why?????? And why do you still hold???

16. 32M shorts have to cover before ???

BTW any keyboard warrior that wants to criticise Michael Anderson or the Board I would humbly suggest you GTFU and GAL. You have no idea.

Anyway.

Both companies are going to be BIG imo.

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Thank you all for your updates and feedback.
This was the first meeting I missed since the BGS days. Seen some "interesting" shareholders come and go, but have always been passionate about their company. Interesting to see the shortfall on Friday followed by the mad scramble. I too am hoping the company looks after their long term holders. I took up all my allocation plus applied for 360k more. Really really hope I get them. I post if I'm successful and would like feedback from others in the same boat.

I'm not looking forward to the idea of chasing LLL on market after I get my refunds if I'm not successful!

Did someone say time for a beer......

FFX Price at posting: $1.07 Sentiment: Buy Disclosure: Held
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