The way I see it, their salaries are paid by JV partners, not out of shareholders funds. Because they operate their licences, if management work an hour on a project they charge back an hour much like other service providers, accountants, lawyers, etc. So they’re paying their own way. I like this model and that’s probably why they haven’t needed to raise more capital since they IPO’d. Most other oilers have 1bn+ shares on issue which kills the upside. What FDR needs is a deal to get the stock moving, with tight capital structure this could run on positive news.
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4.9¢ |
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Open | High | Low | Value | Volume |
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 31739 | 4.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.9¢ | 124999 | 1 |
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No. | Vol. | Price($) |
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2 | 31739 | 0.046 |
2 | 122222 | 0.045 |
2 | 32727 | 0.044 |
1 | 40000 | 0.043 |
1 | 50000 | 0.040 |
Price($) | Vol. | No. |
---|---|---|
0.049 | 124999 | 1 |
0.050 | 49920 | 1 |
0.051 | 38002 | 1 |
0.055 | 56085 | 1 |
0.062 | 9000 | 1 |
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