I really hope that with all this money raised for the combined group that it doesn't mostly end up in the gold side... when there is a short-term need for cash in both parts.
We were told there was a need for a modest raising of cash at the spin-off time of LLL. Hopefully now after this latest raise, LLL will be delivered with a modest cash position already in place.
Keep it tight as a drum with existing shareholders only pro-rata on Day 1 (avoid any last-minute trading positions to take part in any fresh raise) - and watch it fly (before and after the split)!!
My expectation is there will be a few dumps of LLL from gold-only shareholders on the register (eg Van Eyk and any other goldies) - but brokers will be circling them already in advance to feed on that burley... once the valuation numbers are clearer.
FFX Price at posting:
64.5¢ Sentiment: Buy Disclosure: Held