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Ann: Sangomar FID and US$300M underwritten senior facility, page-74

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21/01/20

15:28

Post #: 42495515
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Originally posted by kbrown4515: ↑

What exactly is not factual or true about my comment?
"The fact that they did it at the very last minute, had to extended the deadline and executed (a portion of it) at all time low SP is testament to management." What part are you disputing or just defending for the sake of it.

Unfortunately I have one measure of success - am I making any money or not. The answer is no and the SP is a dismal 4.3c at FID - who would have thought this?

All the hoopla at Financing announcement because of the relief that we still exist as a going concern will slowly dawn on people that we are simply a bad investment or have mis managed asset.

Some are here because they like to belong to a cult and feel good about that sense of belonging, doesn't matter if they make any money apparently.
Whiskey like to see the the company to raise funds and for the capitalization of the company grow - he should be much happier now.
Others like to be part of the journey of a growing company and little Aussie battler etc etc
A few are more noble and like to see developments in a third world company supporting soccer balls & schools.
Not sure where you fall in this.

Not me, I am simply and selfishly fixated on the SP and whether I am making a return or not.

The rest is excuses and noise and there have been too many of them. Sometimes there are indeed unfortunate circumstances that you can do nothing about (such as global oil price, unless good risk management and hedging) and others are just bad judgement from management and mislabeled as things they could do nothing about. Increased capital costs may have caught Far out and you can have sympathy but that just too bad for shareholders and therefore management.

It's a tough life but $900k is a good package to deliver returns. Yet another exec appointment today.

Expect a wave of poster dissatisfaction in next few weeks as relief turns to anger if SP does not appreciate after FID.
Maybe PE will save us all, what a sad investment it has come to.

I'd have rather sold SNE than raised funds or put the company in the shop window and invited takeover offers. This would have probably generated a better outcome for shareholders, all I'm interested in unfortunately.

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Hi kbrown.

Personally I'm glad they didn't throw in the towel and put themselves in the shop window for sale. I invested in Cath to take FAR into a producer based on the Sangomar oil kitchen. Similar to Tim I guess.

Perhaps a little introspection is required for your own management capabilities. I'm sure you have heard of market stops. Consider, if you would for a moment, how you would be feeling right now if you had imposed trailing stops on your investment as we built up to the Samo drill.

Don't get me wrong, I feel for you and the dreadful position you are in. Let's hope for a great PE result and maybe even more reserves and the onto another Gambia drill.

Best of luck either way.

FAR Price at posting: 4.3¢ Sentiment: Buy Disclosure: Held
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Ann: Sangomar FID and US$300M underwritten senior facility, page-74

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Is oil undervalued?

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Venture to sniff out high-grade REE targets at Jupiter project, WA

GreenX picks up prospective copper project in Germany

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Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Westgold sets its sights on top five producer status through merger with Karora

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

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Ann: Sangomar FID and US$300M underwritten senior facility, page-74

Top Stories

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Is oil undervalued?

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

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GreenX picks up prospective copper project in Germany

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Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

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Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Featured News

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