Well, this is definitely one way to p*ss off your shareholders.
I read this 3rd hand at midnight last night, with no backing proof until other posters were able to track down some info and posted it here.
Thinking that LLL would issue an ANN this morn - understanding there may be a delay with translation, drafting up the copy etc due to obviously being caught on the fly with it coming out before they were prepared, although Co's involved in joint manoeuvres normally choreograph their ANNs to come out simultaneously, so they should have had a draft that had been started, that they could spring from.
Annoyed to say the least, that my (and your) hard earned investment dollars have been diluted yet again whilst in suspension - not allowing our own responses/decisions to hold, buy or sell.
We now all have to continue to sit here after a full day of the market being open with still zero acknowledgement of what's going on, thinking "WTF??" and throwing around hypothetical suggestions of why this may have occurred, whilst we continue to have no idea where we sit in regards to the Mining Code discussions/Import Tax/FFX entanglement etc.
I understand that LLL are keeping their cards close to their chests re: Govt issues, however this obscure GF news couldn't feel like we're being screwed over harder. Simon must be p*ssed that this has gotten out - how does this affect the Govt negotiations now, if it's not related in some way? Is it a necessary part of the way out of the mess, or will it now cause further issues?
Sure, the BOD always like to say they are acting in the best interests of shareholders, and want to get back to trading ASAP, however I think this situation needs to be addressed ASAP and shareholders should be advised as to what is going on! Jittery threads on social media chat forums definitely isn't helping their cause.
I am hoping that this is (unfortunately) part of an articulated strategy created for the best resolution to the Mining Code/Import Tax, FFX entanglement issues and we can get back to trading, allowing this to have been the the resolution for all parties involved.
I am grateful however, that at this particular time, it appears that GF have again paid a premium to the SP locked in at the time of suspension (which would have fallen even further due to further decreasing Li sentiment over the months we've been in suspension), which I would like to think alludes to it being part of some articulated strategy to get the Govt discussions finalised, and like others have noted, hopefully that can create a floor for the SP once opening, and it would be nice to think that LLL could somehow consider buying the FFX escrow parcel, cancel the shares, which could bring a bit more strength to the LLL share value.
But I for one, am definitely not a happy Shareholder right now.
(20min delay)