the market is "putting a gun" to the heads of FAR management:
viz:
mr market can count - and recognises that the entity is short 120-150m.
the company can:
sell some of its stake in the underlying asset (and reduce the amt the 3 banks have pledged.......) - THIS DOESNT SOLVE THE PROBLEM
raise subordinated debt - which will be problematic / expensive in the "shut" corp debt markets
issue some form of convertible security - which would MAGNIFY THE FINANCIAL RISK to ordinary shareholders
raise ordinary equity
or put the company up for sale.......
I vote for the last option........management may have other ideas.......
stock is now "cheap enough" from an asset perspective that its probably a Spec Buy........(financial risk withstanding)
if there is some sort of c/note issue (depending upon terms) - it would be "run, not walk......."
rgds
V_H
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Last
47.0¢ |
Change
-0.015(3.09%) |
Mkt cap ! $43.43M |
Open | High | Low | Value | Volume |
47.0¢ | 47.5¢ | 47.0¢ | $9.995K | 21.23K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 82233 | 47.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
48.0¢ | 50000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 71033 | 0.470 |
1 | 50000 | 0.465 |
1 | 50000 | 0.460 |
1 | 1822 | 0.450 |
1 | 3000 | 0.445 |
Price($) | Vol. | No. |
---|---|---|
0.480 | 50000 | 1 |
0.485 | 50000 | 1 |
0.490 | 54000 | 2 |
0.510 | 100895 | 2 |
0.520 | 225286 | 3 |
Last trade - 15.00pm 27/09/2024 (20 minute delay) ? |
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FAR (ASX) Chart |