With my overweight position in FAR, I was as disappointed as anybody with the Samo 1 result. So where to from here?
Well, I look at it this way: If I was in the position today of not owning FAR shares, would I be a buyer? The answer has to be yes because I consider FAR is well undervalued at the current share price and I believe it will progress towards fair value supported by SNE and other attractive opportunities in our leases. I would indeed be a buyer of as many shares as I could fund at the current sp.
Consequently, I will not be selling any of my current holding until that fair value point is reached or exceeded. My sentiment is therefore changed to 'Hold'.
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