Ann: Karlawinda Transitioning to Steady State Operations, page-8

@speculator101

"Yet you have the likes of OBM, who started commissioning earlier than CMM... struggling to survive."

In August last year Hawkes Point (our largest shareholder) sold down their CMM holding by $38mil at SP $1.90 to jump into OBM in the 30c SP range. Effectively going from an on the nose bet to a win or place bet. They were on the winner from the start. This has a been a brutal investment decision for them thus far along with all the other investors caught up in the Daveyhurst slaughterhouse. Hawkes Point held roughly 50% of the OBM book at 35c/ps and have now been diluted down to around 40% of book at 9.3c/ps. We are talking about an over $50mil haircut here. Now it's looking as though more dilution is on the way for OBM. Absolute ongoing nightmare. Like a car crash you can't look away from. Best of luck to all involved.

https://hotcopper.com.au/posts/46329089/single

CMM = quality