Well, the management gambled and believed the investment bank propaganda that two separate companies would be worth more than one. With better timing and a faster IPO it might even have worked.
If cash was then getting low the plan was probably to take those Leo shares and put them up as collateral for a loan to bridge the time to get to postive cash flow territory. Now the market turned sour with the GS report and the Leo couln't even start the race.
Now it's pure survival mode.
It's unbelievable how bad the timing of this company is time and time again. First we miss the lithium boom 1.0 with BGS because we are in suspension while other stocks 5-10x during that time. Now again we drag out the demerger so long untill the general market makes a U turn and the GS report drives a bunch of fear into the whole lithium sector. Our Party is over before we even had a chance to dance :-(.
Lets hope Firefinch can somehow raise those 50 million needed to get us to next year and the gold price stays put. Cash conservation is now absolutely crucial.
FFX Price at posting:
20.0¢ Sentiment: Hold Disclosure: Held
