The very reason we need to get this demerger going ASAP -...

The very reason we need to get this demerger going ASAP - investors who want to add gold exposure, can do that more easily by not selecting FFX but these pure gold plays (and not to get drag down like Lithium stocks, which is the case today); the same story for the other group of investor, when come to increase Lithium exposure, they would not prefer FFX if there is other pure Lithium play. In addition, the overlaps between these two group of investors are not significant - as many here are going to dump FFX to chase LLL or vice versa.

In fact, many here would only buy FFX if it's ultra-undervalued, i.e. gold investors will pay like 70% of fair value of gold business and 30% of fair value of lithium while lithium investors would pay like 70% of fair value of lithium business and 30% of fair value of gold. Not many would be kind enough to pay for full fair as everyone has a different purpose. (don't quote on exact number, just to make a point here)

The thing is, anyone who wants both Li/Au, can always purchase the stocks individually and then rebalance them separately (so you don't have to buy or sell altogether), that's why FFX is always undervalued in the current form and I cannot wait for demerger shortly!