I'm not going to decide whether to be frustrated or relieved until more is known.
On one hand, the current management team have done a brilliant job since Doc 1 came in and took over. On the other hand, the Euroz Hartleys debacle is still fresh in longer term FFX holders' minds.
Despite being on the fence as to what impact this will have on FFX, a few potential scenarios come to mind:
- Some financial demarcation between Morila and Goulamina viz. not using Morila profits to fund Goulamina capex
- Sprott wanting favourable terms for investing in FFX
- Macquarie wanting a bit more than their usual fee for doing the Ganfeng deal
- One or both Docs stumbling upon another Deal Of The Century to fuel FFX's expansion ambitions
Have downgraded my sentiment to "Hold" pending the outcome. I expect my sentiment to return to "Buy" before too long.
All IMO. GLTAH.
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