"Very true. And if FAR do announce a capital raising anytime soon I would be flabbergasted as their incompetence would be out there for all to see. A capital raising bow, well FAR management might as well be shorting their own stock.
Whoever is advising FAR on their marketing strategy needs to be sacked. We may have already seen this occur with new brokers starting to cover FAR. It's a brave person who believes that FAR will not use the 15% new issue rule to raise capital before the end of the FY. It's just too attractive for them not to be utilised.
The sell down over the two days leading up to last nights announcement by CNE stinks of some form of leak and price suppression to contain any possible rally today. Where that leak has come from needs to be investigated by FAR but I would guess it probably originates on either the DrillMax or with CNE IMO"
Agree 100% with the above. I raised the aspect about FAR not in a position to forego on it's 15% issuance entitlement some time ago. The CR will happen (unless they succeed with the PE to some extent that will see them through a next drilling campaign to take them up to DOC)..They will not let the opportunity to raise pass by. . Just looked at the chronological order of events from a year ago and then I agree.. a CR at this time.. Stupid!
So looking back, there is another 5 weeks to do a CR. I imagine resolutions to get voter approval for any issuance under the special ASX rule (forgot the rule number) for shares in excess of 15% would have to be published approx one month prior to AGM... which is in May.
Further, I'm of opinion that FAR is banking on a "more than just the run of the mill" drill result. Results from the appraisal wells won't shift the needle... BUT the prospect of "big resource upside" by drilling VR1 should provide the impetus to start moving the SP upwards to say, 8-9c ( perhaps even more) over the next 5 weeks. But the CR will have to be completed round about 10 April to be safe. ... round about the time when VR1 will have been drilled. So I'd expect the SP now to be manufactured upwards over the next 5 weeks. I believe VR1 will now serve as the "motivating catalyst" for SP increase to a level "acceptable" to those that are earmarked to take part in an ensuing CR.....let's see what happens.
Then a quick response to fizz03 ( or whoever he/she calls him/herself).
My glass is never half empty. I make sure to fill up every time I walk pass the fridge. Unlike you and quite a few others who blindly follow the sound of the Pied Pipers flute, there are also some of us who choose to be objective when expressing an opinion because we've put our money where our mouths are longggg before Senegal drilling (undoubtedly the riskiest time ever) even became a feature attraction for so many . And I and those others have not sold a single share ever since.
So ...not sure what you're on about. People wearing rose colored glasses never see the real picture.. so too did you fail to understand what the issue was that I referred to.
Don't fall behind the pack and keep following the sounds of that flute.
FAR Price at posting:
7.4¢ Sentiment: Hold Disclosure: Held
(20min delay)