April 30 (Reuters) - FAR Ltd (FAR) :
- DEBT FINANCING NOT PROCEEDING AS EXPECTED DUE TO COVID-19 AND OIL PRICE IMPACT ON DEBT MARKETS
- COST CUTTING EFFORTS UNDERWAY
- SANGOMAR DEVELOPMENT WAS RUNNING US$117M UNDER BUDGET FOR YEAR TO END OF MARCH AND EXPECT THIS TREND TO CONTINUE
- COMMENCED PROCESS TO SELL ALL OR PART OF INTEREST IN SENEGAL RSSD PROJECT IN PARALLEL WITH INVESTIGATING ALTERNATIVE SOURCES OF FINANCE
- COVID-19 AND OIL PRICE COLLAPSE ADVERSELY IMPACTED FAR'S FINANCING PLANS FOR SANGOMAR FIELD DEVELOPMENT
- NOT POSSIBLE AT THIS TIME TO ACCESS SHORE BASE FOR DRILLING AT GAMBIA, SO HAVE SUSPENDED ACTIVITIES
- COST CUTTING EFFORTS, REDUCTION IN SPEND FOR SANGOMAR DEVELOPMENT MEANT FORECAST CASH POSITION AT Q1 END US$74M VERSUS ACTUAL US$80.3M FOR QUARTER
- FOR UPCOMING QUARTER, SEES US$5M OF EXPLORATION AND EVALUATION EXPENDITURE
- FOR UPCOMING QUARTER, SEES US$27M OF DEVELOPMENT EXPENDITURE & US$1.2M IN CORPORATE COSTS
News: FAR FAR Says Debt Financing Not Proceeding As Expected
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Mkt cap ! $40.19M | |||
| Open | High | Low | Value | Volume |
| 44.0¢ | 45.0¢ | 43.5¢ | $173.0K | 394.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 75664 | 43.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.5¢ | 15000 | 1 |
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| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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44.0¢ |
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| Open | High | Low | Volume | ||
| 44.0¢ | 44.5¢ | 43.5¢ | 82596 | ||
| Last updated 15.10pm 03/05/2024 ? | |||||
| FAR (ASX) Chart |