LOL in the the last two years you have been able to buy at around 3.6c pre discovery on the present managements watch or 14c post discovery on the same watch, for those buying at the low end pre discovery its been just fine as an investment, for those buying nearer 14c its been a piss poor investment as always luck and timing is everything and piss poor judgement by punters is not Managements problem it requires looking in a mirror to find the culprit...
Cheers Whisky
Whiskey, after a statement like that you obviously have no idea! It appears that the management cheer squad are made up largely of those people who are not under water with their investments. After all, what do they care if 80% of all share transactions transacted over the last 2 years have been at 8c or higher!
Hands up all those people who bought FAR shares at 3.6c when FAR had a mkt cap of $85M and thought 2 years later when the FAR market cap had risen 400% to $340M, that the value of their shares would have only risen 110% and they would be overjoyed with this type of return!
Hands up all those people who bought FAR shares at 3.6c in 2014 that ever envisaged that they would see the FAR board issue PERFORMANCE shares in 2016 with a VWAP of 7c to management that would vest at 13c in 2019 and would have been over the moon with that knowledge, especially noting that the 12 month period Aug 2013 - Aug 2014 trading range was 2.4c to 6.3c.
Now you can't all put your hands up because only 29M shares were traded at 3.6c or below in 2014. Some lucky people shared the 200M 4c placement prior to FAN spud but your returns are a measly 90% but a profit is a profit. The guys & girls at 88E are still sitting on a 500% profit and 88E market cap has increased 1000% but hey why compare FAR with a peer when we can compare with Santos an $8B company in the ASX 50 with only 2B shares on issue against FAR an ASX300 company 25 times smaller and double the amount of shares on issue. Don't let the facts get in the way of a good story I say eh Whiskey!
Hands up if you have been one of the people that purchased the 3.6B FAR shares that have traded at 8c or higher since Aug 2014. There should be a lot of you, FARJOY included. Now sit down because Whiskey has some words of wisdom for you and I quote " as always luck and timing is everything and piss poor judgement by punters is not Managements problem it requires looking in a mirror to find the culprit...
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Now if FAR management monitor this thread they may like to take note that 80% of investors have purchased FAR shares at 8c or higher. You may like to quote that the market cap has risen by 400% but shareholders including institutions and fund managers do not measure market cap when reviewing performance contrary to yours and Whiskey's belief. I can just see the Superannuation fund manager trying to justify their management fees by stating that whilst the share price has fallen the market cap of the investment has risen so you should be happy with that.
There are 20 companies in the ASX200 with a market cap ranging from just over $400M to $800M so it's not out of the realms of possibility that FAR would meet the ASX200 entry criteria by the end of 2016/early 2017. An interesting observation is that there are no penny dreadfuls in the ASX200 and the lowest company share price on the ASX200 today is 61c which is Beach Petroleum. It probably has something to do with the perception that an 8c share apart from being an embarrassment being listed on the ASX200 is perceived as not being investment grade.
There in lies part of the problem with FAR. Perception of not being investment grade. Perception of a share consolidation in the not too distant future. These points could have / should have been addressed prior to June 30 and by doing so would have at the very least cleared the way for the FAR share price to become more attractive to investors when the RISC report is released. And another job ticked off in to the lead up to a potential ASX200 entry.
Not enough time to do this job you say! They found the time to prepare a War & Peace type presentation justifying the performance rights and the person doing the presentation more than likely had the admin skills to prepare and execute the required documentation for a share consolidation. What it really comes down to is priorities and what is important to management. It appears remuneration was higher on their a gender than addressing the share price under performance which would have benefited ALL shareholders.
(20min delay)