I agree with your workings Hotazel.
The unknown there though is when in the first quarter will the drills start?
Also 90 days is 3 months to complete the 2 wells.
Then I would say there would be a significant lag time after the drilling of the wells to analyse the results going by past experiences.
AU$20m free cash after March quarter will be AU$10m less than when FAR last raised.
So going on that FAR will need to raise in that March quarter.
Besides PE which I think will drag on or quietly disappear I cant see any catalyst for the SP to improve.
That I think are what the short positions are banking on.
The can get stock in the CAP raise and close some positions out at a healthy profit.
FAR Price at posting:
6.9¢ Sentiment: None Disclosure: Not Held
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