I have already written off what I have left in FFX, and I have not once said I am waiting till escrow.
Yep I would be concerned given the lack of information, disclosure and all the secrecy surrounding this company AND that they won't communicate with shareholders all whilst they are under the governing bodies obligations, what chance of getting any information if they delisted?
I actually want the Company to acquire a project or JV a semi advanced project, maintaining the FFX brand with the view to being readmitted to quotation. It is IMO, the way I read the company's announcement, re strategic process, as in the direction we are going.
from the letter dated 21 March: 6 weeks on:
Morila SA
~ At the time of this letter, the Company is in advanced discussions relating to a potential transaction for a sale of its 80% interest (the total equity interest held by the Company) in Morila SA for a nominal consideration.
Firefinch Ltd
~ The Board received a number of non binding indicative proposals, that warrant continued negotiations and discussions with the bidding parties.
~ The Board was of the view that there is reasonable potential for a binding agreement to be reached with the successful bidder and that it was expected to result in the delivery of "both value and liquidity."
++ The Company will update the market in due course, (in the next paragraph) the Company will update shareholders in Q2 CY23 ++
I will re-iterate my thoughts from a previous post, call me stupid but IMO everything is pointing to trying to get re-admitted, so what may be suitable to you at your cost basis would be far from suitable to an investor the paid (for example) $1.00 per share............
Nowhere, do I read that Firefinch Limited (Company) is for sale or do I interpret the following statement as being the Company is for sale.
"The Board is pleased to advise that it has received a number of non-binding indicative proposals, which the Board has considered together with Treadstone Resource Partners."
Cost savings and salaries continued ........
How can Lowe suggest that they are doing everything they can to cut costs, to the point of taking salary reductions BUT have an acting CFO (Harris)
++ Harris and Usher's respective salaries need to be added to the already $160,000, IMO, now circa $200,000 in salaries per quarter .......
If the Company had NO intention of being readmitted to quotation, why we have just wasted circa $330,000 on PwC to get our periodic reporting up to date.
Note from Managing Directors letter -- 14th December
~ The Company was suspended by the ASX for failure to comply with periodic reporting, re: "Once the Company is up to date with its periodic reporting obligations, it will then engage with the ASX as a priority regarding the the suspension of the Company's securities and the on-going requirements for quotation on ASX, including taking into consideration FFX no longer funding the Morila Gold Mine. The Board remains mindful of shareholders' desire to realise any retained value in FFX shares they hold.
Finally, when the Company became a 20% substantial holder of Leo Lithium, it was with the intent those shares would be for a future M & A war chest.
The bottom line is, we mere mum and dad shareholders won't decide what happens.
Haven't seen anyone that posts on here, give a #&@# enough to want to throw their hat into the ring for a directors position, other than yourself but I assume it was only a half arsed suggestion if no one else would?
cheers
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