Maybe our get out of jail card is a takeover offer,but agree a...

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02/04/24

10:19

Post #: 73143170
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Originally posted by WoodySpoon: ↑

At current gold prices I would go as far to say as we shouldn't agree to sell it at the reported rate of $1 unless there is a net smelter royalty attached to it of a few percent at least. Something that can see us recoup losses over many years if the mine operates, and no skin off the buyers' nose if it doesn't.
I fail to see how Mali or the buyer could object to that and it should be insisted upon to get a deal done. If Mali want an enviro bond paid for by us, it can come out of that NSR or not at all if I were running the negotiations.

Too late now I guess. Seems like FFX/LLL shareholders getting absolutely shafted and I echo the sentiment, I would not ever invest in Mali again given the behaviour of the current regime toward foreign investors.

I think the only path to even 2/3rds value at Leo is in Simon eschewing the downstream plant idea for now, and instead rewarding shareholders with dividends as soon as it is practicable to do so. Given demand is not currently near what was forecast even two years ago, perhaps even putting off the expansion for 18-24 months - and paying a small dividend instead in 2026. Then having an ongoing policy of 40-50%% of profit being returned every year without exception. Build the future with remaining profits but have a return every year to build confidence in the SP. Though it's not likely to happen, MDs love to ego-build with the ideal that it is reflected in SP appreciation - only that will never be the case with Leo IMHO.

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Maybe our get out of jail card is a takeover offer,but agree a dividend payment is the least the company could do for us long suffering shareholders.

FFX Price at posting: 20.0¢ Sentiment: Hold Disclosure: Held
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Maybe our get out of jail card is a takeover offer,but agree a...

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