In Australia lots of mining coys need to provide bank guarantees(performance bonds) to cover satisfactory rehabilitation of mine sites after completion of mining. If the issuance of the performance bond is cash backed the ASX listed coy cannot show this amount as available cash when compiling their Qrtly cashflow report. It can be noted in a different section within the report however.
This would apply to FAR in Gambia if for example a Bank Guarantee was required before the farmout was completed or if FAR decided to go it alone (highly unlikely IMO).
Jim.
FAR Price at posting:
7.5¢ Sentiment: Hold Disclosure: Held
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