Hey Bull,I am fairly neutral on OBM right now. In the sense that...

Hey Bull,
I am fairly neutral on OBM right now. In the sense that they will probably be able to get into being cash flow positive, albeit, I don't think they will get very close to the DFS, unless Missouri really performs.... so... they will likely be able to go on for quite a while, as they have sunken a hell of a lot of capital into stripping 2 open pits and getting the U/G going.

Whilst they still seem to have lots of challenges, they are unlikely to cause them to go in Admin again, mainly because... unlike last time, a huge amount of money is being spent on actual mining, versus the totally failure to focus on... well.. mining! ha.
Plant is going ok. So... if they can keep it fed, and grades stay over 2g/t, then they will make money at $2400 AUD. Not a huge amount, but, enough.

Am I buying more, nope. I rightly... reduced my holdings in OBM as they got close to first gold (but only because I have been let down sooo many times). This year, CMM and EMR have proven, that if you have the right team and a simple project, you are going to do far better than holding high risk developers (like OBM).

OBM could easily be taken over tomorrow, but... the upside is likely muted now, with, as you fairly ask, downside being.... zero capital.

Good luck to us all, its a hard business!