Thats not going to happen anytime soon .. .. .. .. The steps...

Thats not going to happen anytime soon .. .. .. ..

The steps still required before any distribution of Leo Lithium shares and return of capital;

• Final approval from the Government of Mali is still required before the Sale of Morila is complete.

• Obtaining relevant Class rulings from the Australian Tax Office

1. InSpecie distribution of Leo Lithium Shares
2. Return of Capital - remaining cash reserves less retaining capital for obligations.

• Convene a meeting of shareholders to seek approval for the above return of assets x 2.

Probably by then the Company can be wound up .. .. .. or they can keep enough cash to satisfy their obligations, etc and then pay out remainder of the cash.

My calculations =
Estimated working capital balance of $32 million (31 December 2023) less payment to;

• Leo Lithium ($11.5 million)
• PwC circa ($300,000)
• International Lawyers (?)
• Malian Lawyers (?)
• Australian Lawyers (?)
• Fraser consulting (?)
• Payment to Lowe ($130,000)

Total circa $12.6 million ........ give or take a million.

Conservatively an additional $2 million in interest payments = circa $21.4 million balance.

Cash
$21,400,000 / 1,182,648,903 = $0.018 cents per every FFX share held plus either;

(if their is no excessive CGT that needs to be paid on proceeds of demerger)
210,941,543 * $0.16 (Lower of Tranche 1 payment) = $33,750,646 / 1,182,648,903 = $0.285 per FFX share held. or;
210,941,543 * $0.18 (Higher range of Tranche 1 payment) = $37,969,477 / 1,182,648,903 = $0.0321 per FFX Share held.

Leo Lithium Shares - when they eventually get distributed.
210,941,543 / 1,182,648,903 = .1783 Leo Lithium Share per 1 FFX share held.