OFL.
FAR cannot do both.
So maybe the deal everyone talks about is not the deal they think.
It sounds like an exit strategy.
WPL are in and I think there is no doubt about that.
I am also sure FAR want out because of obvious reasons that the true believers cant see.
FAR could never last the distance and IMO talks have been going on behind the scenes.
My guess is FAR sell their stake along with some of Cairns to another major.
It makes sense.
Get the cash for SNE and take advantage of the low drill rates.
With one well drilled in the new blocks with success and a 40% equity to FAR, they will be made.
After all FAR are explorers and good at it.
They would reap plenty for the sale and I am sure the farm in would be lucrative because the prospects are on trend.
To me its a no brainer.
A cashed up FAR could then recapitalize.
This IMO is a much better option for management than continual dilution.
FAR Price at posting:
8.0¢ Sentiment: Buy Disclosure: Held
(20min delay)