Originally posted by whisky49
"FAR did not take the opportunity to do a CAP raise, yes in hindsight a very very poor decision."
That would depend entirely on what plans FAR have for financing SNE and they will have a good idea...any cap raise done before SAMO would have been done at a discount and the shareprice would likely be even lower than where it is now given the result and the dilution, the only difference is we would have had a few more dollars in the bank...SNE needs a lot of dollars not a few ...there is rarely ever a perfect solution but raising after a success would have been close.
We have some very experienced people on board and the issue would have been considered seriously and based on knowledge they have and we don't , it won't have been a roll of the dice decision...we should have enough cash to get to FID and a lot can happen in that time....clear.png
Cheers Whisky
Well with less money behind us we have less options should things go wrong which they do and probably will..
I'm starting to doubt weather we have the right management in place now to take us forward. The current management hasn't added any shareholder value since SNE 1 that's many years ago. For the first time i think a takeover would be the best outcome for my shares, the company has ZERO short/medium term value drivers and the risks now out weigh the positives. I could list them all but long termers know them all too well.
The Financing of this project will be very difficult if oil goes into another down cycle, WPL don't appear overly friendly and can withstand any delays much better than we can as we didn't RAISE capital.
Things can still work out OK for FAR but we are now limited in our options with SNE being the prize.
FAR is worth more than the Current Market CAP and over time it will re balance correctly.
Not that anyone will care but I'll now take an extended break from the FAR boards hopefully no one has ever listened to me as my record is very average.
Good luck to all holders and hopefully FAR's value will show through in the end.
cheers
AP
(20min delay)