FAR Announcement, page-25

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elemental09

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28/03/17

10:30

Post #: 23670018
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Originally posted by PhillW ↑

Money is not required until 31 Dec 2018 so I think the CR is no more immanent than it currently is which won't be until this drilling campaign is over and funding can be obtained from a different source or at a higher price

RT, You need to read the announcement carefully! FAR are up for AUD$6.75M I suspect once Govt approval is given which is the normal terms of business for farming into exploration licences. The company selling the 80% have announced to their shareholders that the US$5.18M improves their cash balance and working capital. Relevant section from FAR announcement below;

Under the terms of the farm-in agreement, Meridian is to acquire an 80% working interest and become the Operator by making an upfront payment of US$5.18 million.

As for the people claiming that FAR have a backer, do you honestly believe that this backer is coughing up cash out of the goodness of their hearts? This is business and FAR will pay the piper and the one coughing up the cash is normally the one in the drivers seat meaning they will be generously compensated for taking any financial risk.

I believe that FAR is within weeks of triggering a capital raising and they would like their mates BP to do the pumping so that BP can sell to their investors as close to 8.5c as possible. The speed that BP put that research update out yesterday tells the story. They could not even wait for TD of VR-1 which would be the norm in 99 out of 100 research updates. I doubt Total or anyone else would be using FAR as a vehicle to obtain licences in other countries when they could do it themselves.

If it looks like a duck and walks like a duck and quacks like a duck then it is a duck.

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Meanwhile - back in the land of reality - this is a BRILLIANT Announcement.

Ele.

FAR Price at posting: 7.9¢ Sentiment: None Disclosure: Held
3 Upvote

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(20min delay)
Last 50.5¢		Change 0.000(0.00%)		Mkt cap ! $46.66M

Open	High	Low	Value	Volume
50.5¢	50.5¢	50.5¢	$50.52K	100.0K

Buyers (Bids)

No.	Vol.	Price($)
1	7469	50.5¢

Sellers (Offers)

Price($)	Vol.	No.
52.0¢	100000	1

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No.	Vol.	Price($)
1	7469	0.505
2	70000	0.500
3	56793	0.495
2	11900	0.490
2	92553	0.470

Price($)	Vol.	No.
0.520	100000	1
0.525	19005	2
0.530	1005	1
0.550	27285	2
0.555	10000	1

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FAR Announcement, page-25

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FAR Announcement, page-25

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