Ann: Quarterly Activities and Cashflow, page-69

FAR shafted themselves first and foremost thinking with no money and no plan B they could fund development. They should have sold earlier in the piece when COP exited and got out with a handsome profit and returned some capital to shareholders and funded Gambia exploration without cap raise or dilution.

WPL shafted FAR by spending money up front on the project to maximise long term profit. CNE were hopeful of India arbitration to fund the project but it simply took way too long and the window closed for that. Unlike FAR WPL generate cash every day through profitable operational assets which can pay for new developments.... SNE will help generate cash once it comes online and there is some potential upside there from Rufisque and Spica etc.

Watch this space