Ann: Change in substantial holding, page-35

Agree, Link.

Whilst welcomed by most here, I see shareholders buying up at bargain prices as a two-edged sword. Unfortunately, with Mrs OOO increasingly agitated and my agates consequently hanging by a thread, I am unable to average down the phrase ‘throwing good money after bad’ is getting a fair bit of airplay here.

By reducing their average price, those able to average down - including our cornerstone holders - are in a position to exit with a profit at a much lower SP than me (and others, I’m sure). Every one-cent increase in SP now requires the market to add $100m to FAR’s value. My break-even point is therefore now $640m away, attainment of which will require a heady mix of finance, discoveries, luck and time. I’m not buoyed by the prospects of these elements aligning.

If - and it’s a big if - we get to production without further significant dilution, and the reputed US$180m p.a. eventuates, then yes, FAR should be a billion-dollar concern and I and my ilk would be okay.

The Gambia gambit (gamble?) is assuming huge importance for besieged shareholders. Whereas it once looked to be icing on the Sangomar cake, it is now looking more like the cake itself.

I hasten to add I am not bleating about my position. My broker advised get out at nine cents - break even - the day of the Samo announcement. But what would he know.

OOO