Hi there Aptyal. The problem really is that the current board...

Hi there Aptyal. The problem really is that the current board seem not to have performed very well over the last year. In effect, FFX is as others have pointed out, largely a holding type of company with two assets. They have not required much management compared to actual mining activities.

What has occurred though, is a loss of a lot of cash from our balance sheet during this last year and now we are paying a lot of money to Mr Scott (who might be a nice bloke ) , by terminating his employment with a very large cash payment(s?) for what seems like no particular work completed - we have had no project to oversee for over a year now (just a sale of Morilla)...

Add to that the seemingly very opaque dealing with 'Treadstone'.

Simply and for the above points (but there are more) - I think there is very little confidence in the board now and any deal to sell FFX with now less than a year to LLL escrow expiry seems like it would not be optimal. For example if LLL where to buy FFX now, what really would be the point of that? it doesn't really make sense does it since our shares now will come out of escrow in less than a year. And I think other posters have pointed out that any deal to sell FFX to another party is likely to result in a loss for current FFX shareholders in the longer term - since say if an outfit bought FFX for the equivalent of LLL $1.50 per share , it is very likely that the LLL stock price would be higher than $1.50 by June next year.

What i do not understand is that the current board members are very likely individually reasonably well off economically. They are involved with other companies and likely derive a nice income from these sources and will go on to other things money wise - they don't need to make a few million on a sale of FFX. Anecdotally, it is the wish of shareholders to get direct access to the LLL escrow shares. Is it worth the agro of the current board to continue there current course?



ALL IMO