General discussion, page-8148

Net effect would be a similar amount of LLL shares on issue (after new scrip issue and subsequent cancellation of escrowed shares returned to Treasury), removal of uncertainty over future control of the FFX chunk, plus access by Leo to the accumulated FFX tax losses (as they’d arguably still be the same type of business, particularly when also acquiring the leftover tenements FFX still owns post-Morila). At any other time, if Leo had already matured a bit and wasn’t in the midst of developing, one would think this to be a very worthy corporate manoeuvre under consideration by the Leo board. They owe nothing to FFX, and the mess here is FFX’s own making, but the tax losses (and hey, surely we could throw in whatever was left of the cash at bank) surely makes this a smart step. Alas, hasn’t Simon Hay already effectively ruled this sort of thing out in comments someone referenced recently elsewhere??