Ann: Sale of 28.6m Leo Lithium Shares - Cash Injection of $12.9m, page-113

First 113 Last

Share
Profile

Follow
manny100

5,697 Posts.

2500

05/07/22

19:29

Post #: 62386601
Share

Originally posted by GARETH78: ↑

Yep the appendix 5B would have been a problem come October release of the Sept Quarter numbers.

The suspension buys a bit of time, if allow the SP NOT to be crucified too much further “if” negotiating further finance.

Obvious focus is going to be to strategically mine the known better grade areas.

The Sept 21 qtr they produced just over 12k oz and total cash outflow of $16m, so if they can get near the 8-9k oz target per month it should stem the cash out flow.

Management has been a complete disaster for sure, and I’m not keen on AC at LLL if I’m honest. Most company execs are not as clever as they would like you to think.

However the shit hitting the fan at the company has coincided with likely the worse macro environment since the GFC from a Monetary perspective.

Thank god we did not take on any debt and have this occur as that would have been a complete disaster.

The company has a lot of problems but they need a very tight, focussed spending regime for the next 6 - 12 months. Priority is to save the company at this stage.

They have around $50m on hand now. Plus LLL as potential collateral, and likely a CR. The last 5 qtr they have net cash out flow totals around $146m, but have done alot on the ground.

New LOM and Resource upgrade likely to come before trading in my view, plus an indication of a few weeks focussed mining what numbers they are getting on production.

IMO

DYOR

GLTAH

Expand

You can bet LLL has copied the tight FFX financial and operating regime. If the same thing happened again those connected to both would never get another gig.

FFX Price at posting: 20.0¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

Reply

Top Stories

IRX

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

GDM

Banshee's historic trenches prove rich in antimony and gold for GDM

BNL

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

TYX

Tyranna wraps up lithium drilling in Angola; says looking for other projects with different metals

CUF

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

EEG

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

CLE

Cyclone signs MOU with Vale for development of Iron Bear play

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

BTH

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

First 113 Last

Add FFX (ASX) to my watchlist

Ann: Sale of 28.6m Leo Lithium Shares - Cash Injection of $12.9m, page-113

Top Stories

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

Banshee's historic trenches prove rich in antimony and gold for GDM

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

Tyranna wraps up lithium drilling in Angola; says looking for other projects with different metals

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

Cyclone signs MOU with Vale for development of Iron Bear play

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

Featured News