"we can only assume it hasn’t had as strong a reception as the explorer was hoping for." Wow.
A MASSIVELY dilutionary equity raise at around 5c and they still can't drum up enough interest.
I'm not sure what's worse for shareholders, if they win the court case but fail to raise enough cash, or if they win and then dilute shareholders into oblivion. I guess in the latter case, they could easily justify a pay increase for taking over as operators of the project, but forget about the current holders... pummelled into oblivion.
"FAR was now talking about a non-underwritten deal via Bell Potter." - Man, that is a terribly shocking position to be in. They have overplayed their hand by a long shot.
FAR Equity Raise, page-3
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50.0¢ |
Change
-0.015(2.91%) |
Mkt cap ! $46.20M | |||
| Open | High | Low | Value | Volume |
| 52.5¢ | 52.5¢ | 50.0¢ | $45.91K | 88.73K |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5993 | 50.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.5¢ | 5982 | 1 |
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| FAR (ASX) Chart |