"FAR is targeting a Financial Investment Decision (FID) for Sangomar Phase 1 by the end of 2019. Precise timing is subject to 1) Government approval of the final Sangomar Development and Exploitation Plan (EP); 2) launching the Placement and Share Purchase Plan, and 3) receipt of binding and committed financing term sheets for the proposed senior debt facilities (expected before the end of 2019). Some of these factors are not within FAR's control and there is a risk that the timing of FAR’s FID is delayed beyond the end of 2019."
Source: Slide 23 of FAR's 121219 Equity Raising Presentation.
The Development and Exploitation Plan was only lodged with the government earlier this month!
Regards
SP
FAR Price at posting:
4.1¢ Sentiment: Hold Disclosure: Held
(20min delay)