The true value of FAR, page-23

Ele,

Re "Essentially, to get closer to the mid teens and 20c range"

When we consider the value, just pretend you are doing a TO on FAR, then you would surely include what FAR have in the bank. 120 mil after the ER.

I make FAR's worth as say another 2.5c = 22.5c at least. plus another say 30% premium = 29.3c

29,3c at least. But you are only talking about SNE. What about Kenya, The Gambia, DJ etc?
The Gambia could double your 20c.

I do not understand why people keep on harping about dilution etc. As of today, the value of FAR has not been diluted whatsoever. It has expanded in the form of cash in the bank to the tune of $80 mil unless they decided to have a bonfire tonight of the $$bills. AND supposing if the $$ is put to good use and we found an increase in reserve, then if the size of the pie increase by 21%, we are exactly the same value; and I am sure most of us here are quite optimistic of that upgrade!

Talking of putting the $ to good use, have we not started already, A2 A5? That we already know of? This expansion could not take place without money !

On the subject of TH not being lifted, there must be another announcement on the books. May be that'll tell us where some of that $ is to be allocated to. I know the announcement has already generally told us, but nothing specific though.

So my thinking, no dilution to FAR yet until they light that bonfire. BTW on consolidation, that's only a difference in perception of the company. Higher SP, less shares. Sure we are considered as a penny dreadful, but imagine if we get our share price up to say 30c and still have the same no of shares!!

KKW