FAR Ltd (AU:FAR) has released an update.
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FAR Ltd focused on shareholder value in 2023 with cost reductions, capital returns, and a share buyback program. Despite unsuccessful marketing and the subsequent surrender of its Gambian exploration blocks, the company is poised for a possible capital windfall from a contingent payment tied to the Sangomar Field’s upcoming oil production. Plans are afoot to potentially sell this payment and, if successful, return additional capital to shareholders.
For further insights into AU:FAR stock, check out TipRanks’ Stock Analysis page.