What is a realistic figure FAR could go for?
8 cents – no hope. Some major holders will be under water
10 cents – slim profits. Nothing to show for years held. Unlikely to interest anyone but short term holders
12 cents – a profit although poor for many. Those who bought at 6 cents this year will line up with smiles on their faces. This might be accepted grudgingly by others who have been worn down.
15 cents - Probably accepted by all (with a few exceptions).
I think 10 could be offered as a starting point – be rejected by many and end up between 12-15 as a final figure if offers were to be made. This is assuming prior to PE results and no additional drilling in the Gambia. Price could easily get to 12-15 on success in either PE or oil in the Gambia and higher if success in both but that’s IMO
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*FAR Price Target Cut 40% to A$0.06/Share by Morgan Stanley, page-42
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2 | 32000 | 0.485 |
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Price($) | Vol. | No. |
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