Ann: Investor Presentation - July 2020, page-3

OBM continues to impress me.
Why...

Because it is not hiding anything.
Ramp up to take 3 months after first pour... most companies gloss over this (or basically say nothing at all about it). So commercial production will be hit well after first pour, and in 99% of the cases, that is reality (WAF being a outlier). The minute a plant gets turned on, its not profitable.



What makes me confident that OBM has such big potential, is simply how much more gold can be added to the mine plan, with a higher gold price.
Riverina continues to show its potential, but... the company is still evaluating it... Any further U/G ounces will make a large difference to the mine plan, which they state will be constantly reviewed and if needed.. changed.



Anyway, there is definitely risk in the execution early next year, but.. OBM is already looking to start early works this quarter. That is almost 8 months before commercial production is aimed for. That is the sort of preparation that made WAF commercial from very early on.

A huge amount of sunk capital has been spent on OBMs tenements. U/G portals, stripping etc etc.
In a much higher gold price environment, OBM is have vastly more leverage to proven producers (not that I don't hold proven producers).
Plus, only small discoveries or conversions of resources, makes a very big difference to the mine life.