General Discussion, page-7351

I think our share of the project is worth $4+ without a resource upgrade just if spod holds to US$3000/t, but I’d consider supporting a buyout at $1.70 / share provided that went straight to shareholders (I’d be wary of any buyout of the project itself unless there was an airtight plan for how that value gets back in shareholder hands).

At that point it would mean the 1/1.4 LLL shares issued in the split would be back worth what my FFX shares were worth in April 2022 before the dismal destruction of shareholder wealth (I’m assuming we’ll never see anything from the halted FFX holding, including its 17% LLL holding even if there is a buyout - I have absolutely no confidence in the FFX Board looking out for shareholders based on the track record). $1.70 also provides some upside on the subsequent LLL shares I’ve bought to make up for the whole saga, and returns capital early. Otherwise happy to wait until project kicks off when I expect the shares to get well past that point organically anyway.

Anything less than a $1.70 buyout offer means I’m worse off than April 22 so not interested (not that the instos are likely to give us a real choice if an offer emerges on the table).