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GARETH78

8,370 Posts.

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03/05/23

23:18

Post #: 67595679
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Originally posted by Karl89: ↑

See I read this as unlikely to retain the Morila asset from our choice. We do however still currently hold the 80%. Everything I’ve read, to me it appears it was us that have pulled out, not that we were booted out, otherwise it would be pointless for another company to take ownership.

We have dusted our hands and have a clear detached point in which we said we are no longer a part of Morila…. However the title remains with FFX still… hence so does ownership until offloaded.

It makes me believe that firefinch remain still with the option to continue funding should they choose. Morila has kept its doors open via debt… my point being if we did not have access to continue a controlling stake, we could not be the ones trying to sell the project on.

Don’t get me wrong, I want the escrow shares back…. I understand FFX need this off the books to get that done. I can’t stand the management, the lack of communication, detail or explanation for this entire thing.

However this company has an asset on its book which it spent a huge sum of money on… LLL shares value continue to remain low requiring nothing more than time to flourish. what would FFX have to lose throwing a cap raise out there at fair value? Embarrassment? though we would require all parties perhaps other than Lowe to resign for any consideration (perhaps even him!)

Personally I’m not of the belief that The Morila board is the bad guy in the equation. We stopped funding and turned our backs. We have no understanding of their position on all of this, our board continue to tell us nothing.

I can’t stop looking at RSG…. Their raise has flipped the story of that company… they raise a huge sum of money (far more than we would currently need) at one of their lowest levels ( perhaps just above cent value we would need) and they do not hold 17% in Leo… FFX raise the capital for Morila based on the value of Morila only… the lithium deposit was then classed mostly worthless.

I believe the assets are still within the company to be worth something if it was continued with… That last quarterly was pathetic and does not justify what these guys are actually doing for their payments.. paid to exist perhaps

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The CR was an admittance we had lost the battle and suffered huge losses.

But it would have allowed us a chance to win the war by retreating, and re group, yes our tails between our legs and a bitter pill to swallow but fight on to win the war.

Those here that killed the CR by calling, email the company etc etc to kill it I hold in contempt.

The moment the Cr was withdrawn I knew we were in for a lengthy screwing .

Thats what is happening now.

Last edited by GARETH78: 03/05/23

FFX Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
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