Management is constrained.
Anything they announce other than a capital return is likely to drive the stock down to where Woodside can take it over at cash backing, and so buy back its contingent USD55m for free.
If the stock is at 30c due to a questionable management plan, I will say yes to such a takeover, as will others.
I increased my position 5x post drill failure due to this. Any plan will need buy in from Meridian and Farjoy, and I expect them to be very risk averse.
Management is constrained. Anything they announce other than a...
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Last
43.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $40.19M | |||
| Open | High | Low | Value | Volume |
| 44.0¢ | 45.0¢ | 43.5¢ | $173.0K | 394.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 75664 | 43.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.5¢ | 15000 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
44.0¢ |
Change
0.000 ( 1.15 %) |
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| Open | High | Low | Volume | ||
| 44.0¢ | 44.5¢ | 43.5¢ | 82596 | ||
| Last updated 15.10pm 03/05/2024 ? | |||||
| FAR (ASX) Chart |