Ann: Shareholder Update, page-53

From the wording it looks like FFX (having cash and LLL escrowed will be sold off rather than FFX get into another business.
The ann talks of 'bidders'.
"The Board is of the view that there is reasonable potential for a binding agreement to be reached with the successful bidder that is in the best interests of Company shareholders and stakeholders, which is expected to result in the delivery of both value and liquidity."
my bold.
Just our luck. Gold down when FFX needed cash. Now when we need cash Lithium down. Can't win.
Assets disclosed:
Cash circa $38 mill, say $35 by the time this is over.
LLL escrowed shares circa $96 mill. We would want a premium. A very good premium.
Sorting this mess out will have a positive influence on the SP of LLL alone.
The LLL chart shows a potential bullish double bottom which may play out.
Text book target is circa 92 cents.
I do not have much faith in meeting double bottom targets but they do have a habit of resulting in a decent rise if accompanied by good news which is what we just got.
Todays value of the LLL holding is a gift to a buyer so i would expect a decent premium on top of the $96 mill.