AGM, page-70

DB, you ask what went wrong?
Its as plain as night follows day IMO.
FAR because they were asleep at the wheel have decided in their wisdom, even though they had no backer at the time, decided to challenge a technicality in the PE notice.
They say they had not enough information to PE even though they NEVER had the money to do it in the first place.
We are talking about a company at the time that believed SNE was their doing even though they had a tiny 15% and are under the pump to even finance their share of development.
What did they say at the AGM?
Sell 0% or 100%
Why even tell the faithful at the AGM that that's their plan, because they have no plan but it seems the faithful lapped it up on here as they have no issue whatsoever by that statement.
Nearing multi year lows yet again is the verdict from the market yet the faithful are happy with what they were told.
Its a lot clearer they say because they went there and listened to the BS.
Not one criticism by the faithful on here yet again, they again lapped it up.
Any other company that could destroy shareholder value like FAR has on a robust project would be crucified at their AGM.
FAR on HC seems to be a special case.
Holders have been in FAR so long now they are glued on and any criticism would mean they were wrong in their investment decision all along so its unpalatable to admit it.
I cant believe those who went think everything is rosy, surely they felt the bad vibe the AGM must have conveyed.
Any criticism on here is howled down, why I ask as its warranted.

DB, I know you think the Senegal government seem to be delaying this project but honestly why would they?
Its in arbitration and it could possibly drag on for years.
CNE are happy with the situation as WPL are also, the only ones who are not are FAR.
FAR are the only one who is scouring the investment world for finance, everyone else will have it in place.
Yet here we are with first oil probably being pushed out to 2023, 4 years away because FAR have a bee in their bonnet maybe.
FAR think they might get a settlement but are playing a high stakes game by maybe being the cause of derailment of the project.
FAR cant back down as I believe the board will have to resign.
If PE falls flat they will have to resign IMO.

My initial thoughts were FAR to sell down some of their percentage to get to first oil and it seems now that's the plan after all the promises financing their share was in the bag, more BS.
My bet now is they will sell out and will tell the faithful we got an offer too good to refuse to save face.
Karma is coming IMO and those who went to the meeting surely felt that.