They call it groundhog day.
Its happened many times in the past with similar euphoria.
It remains to be seen if its the start of an uptrend once again and the test will be how far the SP drifts back to find support.
IMO FAR are just having a delayed reaction to the oil price as many oilers have risen substantially while FAR stood still.
Lucky for me it seems someone wanted a position in FAR at this stage as I never expected a spike like this so soon because PE and A2 drill are 8 plus months away.
Always be wary of a capital raising though when these events happen on no news especially when FAR are looking at funding their costs in the project as they will need a bank balance to service the debt till they decide what to do regarding how much equity they might keep in Senegal.
AIMHO.
Gambia runs rule over latest PSC hopefuls, page-19
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Last
46.5¢ |
Change
-0.005(1.06%) |
Mkt cap ! $42.97M | |||
| Open | High | Low | Value | Volume |
| 47.0¢ | 47.0¢ | 45.5¢ | $31.34K | 67.88K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3338 | 46.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 199900 | 2 |
View Market Depth
| Last trade - 15.59pm 13/09/2024 (20 minute delay) ? |
| FAR (ASX) Chart |