Bells 36-77c Valuation, page-26

Does it really matter about broker reports and valuations? It is well known by the market what has been discovered in Senegal. There are more sellers than buyers based on what is currently known. I cant think of any catalysts that are going to drive the share price higher other than a change in sentiment. Analysts may find value below 12c next week and the migration of funds into FAR begins. What is hanging over our heads is funding of the appraisal drilling next year. I think it could be funded by a selldown of our Senegal interest to 10%. But I do feel that a restructure (share consolidation) may be on the cards and this may involve a capital raising sometime in the new year. Clean the decks so to speak. Anyhow, it hasn't quite gone to plan this week but maybe next week we can find our feet and start heading in the right direction.

Growing pains.