Its all about money. The PE exercise is about attempting to gain advantage to either get cash (compensation for no PE) or to get free carry in lieu of cash. Regardless of it being a secret santa sugar daddy or WPL does not concern FAR.
The company only has cash for next 2 SNE wells.
It has no cash for Djiffere well or ongoing SNE development. The question is how much dilution will occur in March CR - so I support FAR management mitigating the CR scale by amicable mediation over PE. If they can both secure and farm-out Djiffere for further mitigation of cash requirement then I support that too.
I feel exposed today but this is a junior explorer - kind of exciting and scary in high risk/reward companies isnt it?
Juicier target CNE or FAR, page-6
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Last
50.0¢ |
Change
0.005(1.01%) |
Mkt cap ! $46.20M | |||
| Open | High | Low | Value | Volume |
| 50.0¢ | 50.5¢ | 49.5¢ | $12.74K | 25.29K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 89162 | 49.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.0¢ | 2297 | 1 |
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| Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
| FAR (ASX) Chart |