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benladeng414

125 Posts.

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16/11/23

18:44

Post #: 70947871
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Originally posted by GARETH78: ↑

The escrow and commissioning are going to be at around the same time.

The escrow are worthless if LLL is tied up in a suspension still.

I m not convinced the LLL suspension is linked to Taxes or the mine code. Plenty of companies have tax disputes and are not placed in suspension as long as you have informed the market. LLL has informed the market.

The same goes for permitting, mine code changes and negotiations on the likes of DSO etc. In the mine sector if every company suspended itself while have discussions with a govt agency, most companies would be in suspension. Inform the market and investors where you are at, so they know what risks they are taking. Thats how the market always is.

Given the information vacuum we have, we can only try to piece things together as we see fit. Given the Govt set up a commission to review the LLL / FFX relationship, a commission they already likely know the outcome before starting in their eyes, we are in a pickle.

LLL best course is to continue the build and start commissioning, and if still in suspension so be it. But at this point as long as SC6 pricing is profitable, thats when LLL has some leverage, the leverage is the the royalties. Unless you want to start some win / win discussions the plant goes into C&A.

However as they are now a minority within the JV (selling the 5% could be a big mistake) does LLL have any leverage now?

Except Brendan, none of the other BOD on either company have enough skin in the game to make any real tough calls.

IMO of course.

Expand

Agreed Goulamina need to finish construction as quick as possible.

but two issues from my view:
1. without the power generation permit, can the temporary power generators support plants to run commissioning and/or production?
2. given current situation, Mali government still not part of the shareholder of Goulamina. So even we finish construction, are we allowed to export?

the only way to make Leo survival is Goulamina making money.

FFX Price at posting: 20.0¢ Sentiment: None Disclosure: Held
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