Yes you are probably right. My train of thought is a...

1. Yes you are probably right. My train of thought is a follows:
2. Goulamina Holdings Pty Ltd (GHPL)(incorporated in Perth, WA) I think, currently owns 100% of the Lithium project thru Lithium du Mali S.A(LMSA)
3. A new JV company Mali lithium BV(MLB) is established to buy?? the LMSA shares held by GHPL - this is the step that requires approval from the Sate of Mali
4. Ganfeng and GHPL to hold the 50% each in LMB
5. I think FFX need to retain some shares in Goulamina Holdings Pty Ltd ,so
6. the 2 options i can see regarding the shares in Goulamina Holdings Pty Ltd

• as you have described in your post but holding a nominal percentage or
• FFX retaining the 10-30% in Goulamina Holdings Pty Ltd (which will own 50% of MLB) and the balance held by the new ASX company

7. OR maybe Goulamina Holdings Pty Ltd (GHPL) will become the ASX vehicle- doubtful


I dont think it really matters- its too much detail.

at the end of the day all FFX shareholders will get a share in the new ASX company