Originally posted by LNC-Link
I think you missed the point with what DB was getting at......Why CONTINUE to buy shares when you are absolutely sure that the company you are buying in is incompetent and the board has been depleted of quality.... its not a case here of just holding...this particular fool has been ridiculing management and then on the same breath raising his investment. If you think that is rational behavior then perhaps you guys have some sort of investment style you could share with us all.
There has been no elevated, higher quality posts emanating from the trolls and so called "realists" its just that they have come on here to brag and say " I told you so" .... well, the news for them is that it could have equally gone the other way and the longs would have been in clover....so, no, I cant agree that they have been adding quality to the board.
As I posted yesterday, I lifted my ignore button on Cujo, Kimbo, Spylord and a whole plethora of dills that only seemed to bring out the worst on this board. They always managed to put hooks into their belittling posts designed to get reactions to the negative. Once they hooked a player then they would defeat them with their skills at being idiotic. The problem, for me, at least was that now and then they would cleverly put up a tidbit of real information to make people think that they did have something of worth in their content.....but 99% of their posts were baited and demeaning....and at the end of the day, worthless as DB quite succinctly states.
At the end of the day most of us are here because we own FAR and we generally want reinforcing information due to the perceived lack of information coming from FAR.
The reality is that FAR dont have anything more to state because they are fully disclosed. One thing I am 100% sure of is that they are not sitting still right now. As a small team they have proven to be very active.
Cath has informed me at the last meeting that they have options for finance that allow them to have an alternative quotation. Sounds rational to me.
We will hopefully soon have Senegals plan approval. That in itself will validate the exploitation of SNE and WILL put a floor under the share-price...simply because the contingent shifts to reserves and reserves are at a much different level because they are bankable and also much more valuable in regards to book valued assets.
As DB says, it is unlikely that a major will move on FAR just for its 13.5% of SNE but who really knows?.
When the SP dropped after Samo it went a bit further that I would have thought but when does anything return to the mean....there is always an overshoot. But as predicted we did have a fallback and it wasnt a case of total win or lose......I still have my grub-stake.
Link will agree to disagree on this one.
I did more than all right buying lots of additional shares in a great ASX energy asset/Company that had a total s..t as a CEO/board and everytime the CEO opened his mouth the SP fell (very substaintial at times) becuase he new very little of the region he was operating in or anything else IMO. But guess what because of the asset, which by the way i understood very well, was quality the SP recovered after the "common blip" so there is money to be made; don't get so hung up on management and personel FAR will shortly live and die by the output from the excel model sheet and factors outside management control as its a minority JV partner for SNE.
The one point i feel comes over in the posts at times from the team that chat to Cath is that whilst that is one view of the Company and its opportunities going forward the larger investment community, and in particular the people for are/will be the major holders going forward into exploitation,
may have a differnet view and their investment drivers may be more deliver based. An excel sheet does not cope well with a missed date it tends to f..k things up in the final output/investment return sheet.
Anyway each to his own and will continue to have no one on ignore as I do find some of the less popular posters comments very helpful in expanding the discussion and my understanding why/where the SP maybe going.
(20min delay)