hi OOO hopefully u will not be taking ur ball home and continue to post your thoughts on FAR all threads need balance.
what could FAR have done differently well the list is long but the focus after yesterday is PE and taking out the quality of the initial legal advise my main issue is timing.
what did anyone real expect PE was worth let's just say $300M. Now if we had got that after 12 months how would that have impacted on the project, JV funding and future CR and dilution very favorable I think.
but scroll on to the real scenario in that the award came after FID funding (assuming a positive outcome) and CR I guess the question is if FAR had cut their losses in say Jan 2018 how much higher would the SP be for future CR, what would have been the saving on finance through the JV without PE and how would the market react to post FID. will all the ducks lined up.
we can make any numbers fit but I think pulling the plug early on PE would have significantly reduced funding risk and overall we would be in a better position than we are that is down to the CEO and board.
we can all average down but only so much and I think most SH new and old will be red and so all this comes back to management. I have never met any of the team but I am not convinced their is quality and execution expertise at a senior level for a producer and yes good bios/CV but all meaningless without a track record of delivery of adding SH value and that's what is missing.
change is needed at both CEO and on the Board to re- establish confidence don't worry it will be all right on the night/the share price will look after itself/the 20% is ours will not cut it anymore the Company needs to deliver.
FAR Price at posting:
3.1¢ Sentiment: None Disclosure: Held
(20min delay)