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On the bright aide that 3.4% slice of LLL is now somewhere out...

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SecretPauly

274 Posts.

104

16/06/23

18:43

Post #: 68331769
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Originally posted by camban: ↑

Grossly irresponsible for sure. The points you’ve highlighted here are exactly the reasons why I don’t buy the LLL share sale excuses. It smacks of so much incompetence I find it hard to believe that any experienced listed company director would rush to sell an asset at a depressed price and resulting sizeable loss just moments after acquiring it, based on still unclear circumstances they claim to have only just found out about. More so when the asset and it’s likely medium term value is very familiar to them. By doing this share dump they compounded not ameliorated the problem for everybody except the broker & the final recipient(s) of that parcel. This still needs proper explaining.

The whole financial setup at FFX is fishy to me: a clear lack of controls that somehow results in Morila going AWOL; new NEDs running for the exit; old & former NEDs acting like they were blindsided & know nothing after years on the board; an MD (ex Taurus, so no stranger to financing) who goes from plugging the financial stability & prospects of the business to suddenly departing overnight with a payout, swiftly followed by the champion of Morila himself. All this - we are supposed to believe - was purely coincidental, separate, compartmentalised matters.

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On the bright aide that 3.4% slice of LLL is now somewhere out there in better hands.

FFX Price at posting: 20.0¢ Sentiment: None Disclosure: Held
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