First Substantial Shareholder - Farjoy, page-3

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malcolm in the middle

3,612 Posts.

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21/09/14

19:56

Post #: 14006988
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Originally posted by homeales ↑

Decided to check back in on this sunny Melbourne Spring Sunday and reflect on posts and my "micro" shareholding,

FAR has finally got a substantial shareholder with a medium term investment horizon - Farjoy - who I regard as a "private" institutional investor given their other significant shareholdings and investment plays. I go to sleep dreaming of having that much money to invest in my considered views.

However, I do find their "coming out" on HotCoppper as rather unusual. Are they displaying the highest ethical investment principles by putting the record straight or positioning for defending an insider trading inquiry by the thought police or Government compliance agencies.

I don't give a toss happy to see the first of many substantial shareholders who want to buy my micro-shareholding - the Macquarie banks and Hedge Fund Managers and other Institutional Investors. Always easier to get an equity placement away instead of seeking funds from my wallet.

Now back to my current conundrum - What is the Target Depth and "are we there yet"

Initially some years back it was 5900 m for FAN1 then on a few occasions it was 5300 m then it was 5000m when we found oil "at or before" 4402 meters.

So given the 30 day average daily drilling speed for all activities.of about 46 meters per day we should have reached Target Depth on either 10 th, 17th or 30th September.

The ASX Release said we were at 4402 metres but the Good Oil Conference geologist some few days later at over 5000 metres. WHICH is believable ONLY IF FAR Management is advised daily of where they are at.

So they are still there and drilling on to the final kitchen target at 5900 m (or 5300) and will finish around 30 September.

This leaves time to increase ones exposure if one so desires.

If you subscribe to the insider trading conspiracy theories then the probability of success just increased.

As I said I will wait until Kenya plays out but may reassess after SNE1 but I must say the only choice I may have if it is a duster FAN 1 and SNE1 is forget as if you ant to get out of these juniors there are never any buyers until you get to the real bottom.

Farjoy cannot exit 136 million shares in 15 minutes

regards
HomeAles

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The thing is Homeales, Farjoy are looking beyond the first well as per paragraph 6. They wont be exiting for sometime yet, with so many shares tied up in FAR.....they will be hoping like many of us ......with success.....a bid will solve their problem.

6. We have been invested in FAR for some years, in a modest way, and participated in the recent capital raise for the Kenyan prospects, on the strength of the miocene reefs and our knowledge of Rift geology.

FAR Price at posting: 8.0¢ Sentiment: Hold Disclosure: Held
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0 Great analysis

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