I'm in FFX based on the performance of the BoD and that both projects have fantastic futures ahead, and do believe that the board have been a) under promising and over delivering to date, and b) are cutting the best deals that they can with the options available.
However on that second point, I'm just wondering if someone who's been around longer than I, can help with 2 thoughts I cant resolve:
a) The wording and sentiments of the hints before the lithium deal announcement was that we had massive interest in the data room, in an enviable position to negotiate, no desperation, people coming to us etc etc. So was GF the best deal on the table or was it the only deal on the table worthy of pursuing? (seriously, I'm not downramping/downplaying/belittling the deal) Just trying to understand why more working capital wasn't/couldn't be negotiated, if we knew it was required for Morilla, and were in such a strong negotiating position, because...
b) Again if both projects have strong fundamentals, especially relative to peers, why has it been so difficult to obtain financing? As the board have decided of all the avenue's available, this course of action was the best long term solution. Since the pre-announcement price movements all over the ASX give strong indications of the "leaky ship" theory in trading, in this case these insto's were the very reason the share price retreated, hence the dilution value present. Again I'm not downramping/downplaying/belittling the decisions made, just trying to understand how this could be THE BEST solution, or is it the the ONLY solution.
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