But I have a lingering question re 100% of Derby. How are they going to fund it? Backreef's deal with Buru is for cash ($3.8m I recall) and that is money that OBL does not have.
The reality is that they are capped at $18m, have taken over a week to complete a 10% (15%?) placement, which will not give them enough cash to pre-empt the deal.
Its fine to talk about buying the asset, but the reality is that it may be a bridge too far.
Your thoughts appreciated.
I dont currently own OBL shares, but may buy the weakness that I expect with the announcement of cap raising. (2.5 cents????)
DYOR
Al
OBL Price at posting:
3.4¢ Sentiment: Hold Disclosure: Not Held
