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BullishBearish

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13/03/24

10:21

Post #: 72860779
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Originally posted by fooca: ↑

Assuming the "a sale is pending to finalise a settlement" is from @xfactor1 post on LLL thread and taken from his notes after a conversation with LLL.

@JohnMaz (added you here from your question on LLL thread, this is my interpretation only)

I look at what the Company (LLL) announced on the 19 January, being the "sale" of 5% of Goulamina.
The what is being sold is clear in my opinion, it remains pending subject to the execution of settlement documentation (tranche 1)

The market was the first to be made aware at the time the sale was announced, and not from a shareholders notes (from a conversation) posted on HotCopper 2 weeks later.

I am more interested in the what, why and how much this negotiated settlement is!!

I thought it to be the levies on the transfer of the licence (which after reading ALL the Mining Codes, we have always had to pay) assuming that the Company had plainly overlooked this?, but the part of the announcement "as the settlement remains uncertain the amount of any potential payment also remains uncertain.

This would rule out the levies per se, as the formula for payment of these is clear in the mining Code and based on the NPV post tax indicated in the DFS, but the amount of levies (1% of $4.1B) = A$41M, sure lines up to the first tranche payment.

cheers

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Fooca, regarding the below. Am I reading that correctly in that the government is seeking a total $95m that will be paid up combined from both entities?

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