Shell has no obligation to report to the ASX and anyway it is probably not material to Shell. Far is obliged to report immediately a material event becomes known.
I would expect a favourable announcement to say "subject to approval of the Senegalese authorities" and an unofficial nod would have been given prior to Shell expending dollars.
I'm sure that FAR will attempt to apply spin to an unfavourable result.
I agree that the price weakness is likely due to holders reducing exposure.
significance of shell agreement, page-22
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Last
50.0¢ |
Change
0.010(2.04%) |
Mkt cap ! $46.20M | |||
| Open | High | Low | Value | Volume |
| 49.0¢ | 50.0¢ | 49.0¢ | $16.71K | 33.54K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 9455 | 50.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.5¢ | 25000 | 1 |
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| Last trade - 15.59pm 03/10/2024 (20 minute delay) ? |
| FAR (ASX) Chart |