As usual management have fooked it (and us) by providing shortfall shares to the Perth retail insto vultures - who IMO immediately began selling off their FFX knowing they could scoop up LLL @70 cents.
Just one more reason to vote no on remuneration this year IMHO and send them a warning shot across the bow to lift their bloody game.
If these clowns had done a good job they'd' have found real LT new investors for LLL from OS or here to commit LT funds. Not gone back to the cheap and easy solution in Perth. I look at TMT where management are on half the salary - and they've gotten onboard RCF VII - for $20 mill - for a far less certain project. They're not selling bloody shares every other month, but committed to the project. I mean, this was supposed to be Mike's area of expertise... but all we get is the same old small cap raise shite every friggen time.
FFX Price at posting:
89.0¢ Sentiment: None Disclosure: Held
