"However, I am a little concerned with the words used in this...

"However, I am a little concerned with the words used in this statement - "Firefinch will arrange for payment of most of the Tranche 1 LLL distribution and historic cash balance" - Why not worded "all of tranche 1 and most of historic cash balance"...?"

Pouring over every single word of a release looking for veiled meanings is not helpful, nor a productive IMO. I would strongly suggest what was meant was; we'll have most of the available cash back to you and leave some in reserve to pay for ongoing expenses. I mean I could be wrong, but what's to be gained by obsessing over it anyways?

On the returns via FFX Vs Leo; Leo had bugger all capital account under which they might return capital to holders. I would hope (expect?) that FFX's substantial capital account from all those disastrously dilutative raises will at least enable us to get MUCH more (if not all available cash) back as capital. But then I'm no accountant and don't underestimate the ability of the ATO to screw us, just because. Given the money Leo got and passed on was for a sale of asset rather than usual business income, IMO the ATO would be twisting the meaning of their own legislation if they denied FFX the use of its capital account to refund holders, and we should appeal any ruling against us using it. Anyways I would expect the company to try all legal avenues to extract maximum value for shareholders and it appears to be what they are doing.

We all await Leo's future and see what breaks from that....