If you want to use logic then i suggest doing some math.
FAR has 2.7Bn shares on issue according to google finance . So at SP of 11c its valued at $300M - not including any options.
FAR has 15% project ownership of the senegalese project everyone is buying it for - so if we assume say 90% of FAR's current SP is based on the value of those projects, then the entire senegalese project is being valued at about $1.8Bn.
That is a huge value to ascribe to a project that isnt confirmed on scale or commerciality - so after excitement you will likely see a fair bit of second guessing of just how much FAR is worth.
After a very large capital raising like FAR has done - you should expect a fair period of consolidation - esp when oil price has been weak.
So i;d expect the stock will probably go back into high single digits and then consolidate until newsflow confirms commerciality.
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Last
52.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $48.05M |
Open | High | Low | Value | Volume |
52.0¢ | 53.5¢ | 52.0¢ | $17.03K | 32.56K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10069 | 52.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
54.0¢ | 22471 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10069 | 0.520 |
3 | 110000 | 0.515 |
2 | 35000 | 0.510 |
2 | 45521 | 0.505 |
1 | 29878 | 0.500 |
Price($) | Vol. | No. |
---|---|---|
0.540 | 22471 | 1 |
0.550 | 82295 | 3 |
0.600 | 25953 | 2 |
0.610 | 2000 | 1 |
0.000 | 0 | 0 |
Last trade - 15.03pm 05/07/2024 (20 minute delay) ? |
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FAR (ASX) Chart |