Interesting. I understand that many of the 8 and 11 cent placement takers were the same as those who took the first 4 cent raise. There were new entrants at 8 and 11 of course. And I understand many of the first series still hold. But that's irrelevant. What is relevant is that FAR needs capital and most of the time for whatever reason the retail register can't satisfy that capital demand. Probably because most retail folk are already as exposed as they wish to be or just don't have the spare cash at short notice for a high-risk play.
I asked one of the placement brokers if 8 cent takers were selling today and the reply suggests they are to some extent at least. But like all holders they've also worn the same risk haven't they? ie if results were poor they wouldn't be profiting.
The high street cronies tag is a bit rich. If you knew any of the participants at all you'd know that's not their constituency. But if retail holders can't or won't stump up (as last time) then how can they raise the required cash without SIs?
Anyway, without being repetitive we need a grown-up register with a more typical shareholder mix for an ASX 200 aspirant and less retail float.
P.S I too am very happy with FAR. Been around since the days of the 2s and 3s. And I remember 17 cents pre Kora before absolutely anything of substance!. Brilliant management.An am still amazed at how cheap it is.
FAR Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
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