Recruiting Simon Hay was the only worthwhile thing Cowden did. He created a lengthy and expensive demerger, heavily diluted the lithium asset and burned hundreds of million of dollars on Morilla.
What is now the 4th largest hard rock deposit globally never needed the goldmine to attract a partner. It just required patience.
Without doubt wealth has been created for BGS/MLL shareholders but probably about half as much as could have been with better management.
FFX now backed by 23 cents assuming the last cash report hasn't been significantly drained.
FFX Price at posting:
20.0¢ Sentiment: None Disclosure: Held