Hi Mr H,
I'm with you.. whether we (long term holders in the least) are going to see "real" value, will depend on our actions.
Personally, if I was forced to take 30c p/s , then I'd have to do that.. but I'll be damned if I don't do "something" to at least contribute to achieve a more acceptable price/p/sh. What would be more acceptable???... Personal feeling... nothing less than 50c.. I'm full aware that, to achieve that figure, FAR has to "put the score on the board".. I believe FAR has gone a long way to do just that and I'm comfortable to be in cahoots with FAR board members and other long termers who has insight in what is true value.
Fact is, we have Farjoy with a "blocking stake" .. (in inverted commas) because Farjoy will only block a T/O to the extent that it is not satisfied with what they are offered for their shares... Make no mistake... when wheeling & dealing starts, the "big guys" whom you rely on as a protector will not give second thought to sell off their shares if the price is right ( before the T/O offer comes in) Imagine, Farjoy spent 50mil at average 10c a share, now negotiates a sideline "buy&sell" @ 40c p/s. Farjoy turned 50mil into 200mil.. You think for one minte they give a shite about the little people when there is an additional 50mil on the table?? (Little people being T/O'd at 30c vs Farjoy selling out early at 40c/p/s).. In short, a big stakeholder might negotiate a 40c p/s beforehand... transfer those shares..,predator (who now holds those shares)comes in with a 25-30% holding and, surprise surprise, our cornerstone investor has vanished.. sold out. Not saying it will happen here but it can... very easily... and it's my believe we need to be prudent to whatever extent possible.
The above scenario leaves us in a very difficult spot.. so.. as had been done some year or more ago, people (on a different social media forum) who intend to ride this out, started pooling their shares to see how much the "little people" hold.. From recollection, they pooled something in excess of 5% holding.
It might well be the time to revisit the issue... we need to pool and we need to pool strongly if we going to prevent a premature , low-ball (not "real value") offer.
Thoughts are welcome.
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