Being unable to raise finance, which is a high possibility here, does not mean FAR's demise. They will simply be forced to sell their SNE interest - perhaps at below market value of 6 months ago, but nevertheless a sale.
After that, FAR will have cash from sale proceeds, cash from raising and no debts.
At the end of this, they will have more cash than their current MC of AUD $100M.
Of course, it will be a major set back, but it won't be the end, as there is still plenty of cash to pay wages, salaries (LOL), admin costs and exploration costs.
World leaders and our PM have predicted this virus will last 6 months, whether credit crunch will last another 6 months is another story.
It would have been better if they sold the SNE asset 6 months ago, but it is what it is. I will be happy to take a 50 to 100% gain on this.
Being unable to raise finance, which is a high possibility here,...
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Last
50.0¢ |
Change
-0.015(2.91%) |
Mkt cap ! $46.20M | |||
| Open | High | Low | Value | Volume |
| 52.5¢ | 52.5¢ | 50.0¢ | $45.91K | 88.73K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5993 | 50.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.5¢ | 5982 | 1 |
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| Last trade - 15.08pm 28/06/2024 (20 minute delay) ? |
| FAR (ASX) Chart |