Sorry guys to be negative on this but we are effectively paying cash for projects when the market is ascribing no value to our projects and that is dilutive.
The combined entity snapshot in the FAR presentation does not include the Beibu payment, so in fact:
our projects presently have a value of $2.8m; and
Flow's projects a value of $19.78m
So does anyone think that Flow's projects are worth 6 times more than FAR's, or taking another angle what other projects could FAR buy into for 19.78m.
Sure some of Flows projects could be company makers.The Kenyan project is rated high risk, High return, but so have a lot of FAR's going back to the Eagle well (still on hold).
The reference to Flow's last traded price is also a joke, and I would be very interested to see who the buyers were of the recent trades and placement.
this is great news for far, page-4
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Last
49.0¢ |
Change
-0.010(2.00%) |
Mkt cap ! $45.28M | |||
| Open | High | Low | Value | Volume |
| 48.5¢ | 52.0¢ | 48.5¢ | $101.9K | 200.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 48741 | 48.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 49.5¢ | 1786 | 1 |
View Market Depth
| Last trade - 15.59pm 04/10/2024 (20 minute delay) ? |
| FAR (ASX) Chart |