Yes, exactly as you describe except the current block by the...

Yes, exactly as you describe except the current block by the Malian Government may either block a transaction or add a condition to it.

If LLL pulls back by 20% or more, a bid that values LLL at over a dollar starts to look attractive to some FFX retail holders.

Fraser likes the word liquidity. The big institutions want liquidity.

Fraser's aim is to conduct the deal. If LLL falls, a deal may look sweeter in the short term. A deal means Fraser wins, Treadstone wins, G&T wins, big holders get what they want. Retail holders may or may not get what is in their best long term interests.