Turtle, The charts suggest 15.5c is resistance. A move past this level is certainly healthy for FAR.
Approx a billion shares at 15c is $150m market cap. Sure $3o odd million in cash, but the question has to be asked what are the GB (Svenska + Ophir leases) + Senegal leases worth? $200-$250m perhaps (based on AP's price tag of $150m for licenses to the South of Senegal and being conservative). Does the license value equate to 20-25c to the share price (plus cash) and hence around 20-30c pre spud? Cant see it going any higher than that due to 'no oil' in West Africa as yet for FAR. Once that box is ticked then the price can move on from pre spud levels.
It will be interesting to see if their is a holder in the Top 20 with around 200m shares now. That is around 20% of the company.
different this time, page-17
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Last
50.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $46.66M | |||
| Open | High | Low | Value | Volume |
| 50.5¢ | 50.5¢ | 50.5¢ | $2.525K | 5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 13568 | 50.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 51.0¢ | 345490 | 5 |
View Market Depth
| Last trade - 10.02am 01/11/2024 (20 minute delay) ? |
| FAR (ASX) Chart |