Manny - Not sure why you believe that Doc wants to cross-finance the two arms of the business that he's seemingly working so hard to separate...?
From my reading, the gold operation will largely finance itself from here with a good plan unfolding for the planned development - and if more firepower is required, he's flagged possible debt.
Equally, the lithium will be a stand-alone entity - organising its own finances. The DD room and appointment of Macquarie is designed to put that financial capacity in place. Any strategic partner will put money directly into the lithium company towards funding the development. And Macquarie will assist in raising any additional funds required...
FFX's interest in the lithium operation (100% - less Mali Govt - currently) will seemingly be handed directly to the FFX shareholders (I suspect completely - rather than retaining any minority stake within the gold company - to what purpose?).
This whole separation is more psychologic than rational... and you can't be a little bit pregnant?
That's how I perceive it anyway...
[PS Love your thoughtful FFX postings !!]
Who’s buying and selling, page-683
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