I still don't understand your logic, why would FAR raise at 6/7 cents when they could raise as CN said on good flow tests results, at a presumably much higher price.. You are a holder so you think FAR is going places so why are you pumping a 6 to 7c CR instead of a CR at double those prices and half the dilution or twice the money?
FAR has plenty in the bank for the first and second well. In the bank approx $36M aud with approx costs $34M for the three well including flow tests, should know more with the quarterly out soon, but I expect it close to these figures.
How will a CR at 6/7c benefit shareholders?
If FAR raises before the first appraisal for me portrays they aren't as confident of good results as they are telling us all. If the oil is there and the results are good the money will follow. Money in the bank will not add much to our share price in current environment IMO.
I expect a CR after the first drill and would be disappointed if it happened before that. Holders that want their shares diluted so much is beyond me.
FAR Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
(20min delay)