I watched the last 90 minutes of trading today and initially thought that the share price would close in the low 9 cent mark but was amazed that we actually closed higher for the day with lots of support coming in over the last 45 minutes. I am a very LT holder going back way before Senegal and I couldn't help myself today and bought some more, to now make an even large round number of shares.
I know that all of us have been waiting for a long time for success, but it is only a couple more weeks till the drilling starts. IMO you either believe in the story or not and hopefully you have done your own research to confirm your beliefs. I know some people panick and sell on emotion as I am sure some did today IMO.
I and everybody else are not happy that the Senegal extension has not come through. I have given this some thought and offer a possible theory of my own that maybe FAR will get a 2 year extension from the day Ophir agrees to take up their 25% of the Senegal Licence if Kora is successful. This would give us a 2.5 year extension instead of the 3 year extension that FAR have asked for with the Senegal government. If on the other hand Kora is a failure then I think that we will get a Licence extension backdated to November 2010. I think that this is an easier way for the Senegal government to approve a longer licence period without the possibility of having objections raised within the government IMO.
As I have said this is only my opinion as a possible explanation as to why the license has not been approved by now. I could be totally wrong and have no idea how the Senegal government works or how it goes about approving the licences apart from what I have read from FAR and from other people's opinions on this thread.
I feel comfortable with my investment in FAR and we will know in the coming months if Kora will be successful, good luck to us all and I enjoy reading the posts from all of you regardless as to whether it is positive or a negative post as it keeps things in perspective.
Regards Erinne
FAR Price at posting:
11.5¢ Sentiment: LT Buy Disclosure: Held
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