A Northern Star Mark II ?, page-81

You can call me crazy, but I would not put it past NST to circle back and be interested in owning OBM and that highly prospective gold belt.

NST enjoys a market capitalisation of $17 billion and generates annual cashflow of $1.7 billion

OBM has a market capitalisation of $1 billion and is expected to be generating cashflow at the rate of ~$300 million in less than 12 months time.

NST are buying back ~$200 million worth of shares their own shares a year, presumably because they can’t find more exciting things to do with their money.

Stuart Tonkin worked closely with Luke Creagh and Michael Chaney would have been involved in the Wesfarmers/OBM regional exploration deal. Both would have confidence in LC professionalism and would probably welcome some more high grade underground mines and mining expertise back into the fold..

The current metrics on production/growth/valuation/tax losses etc would work in my opinion.

Then overlay all that with a strong NST balance sheet and cashflow that conducts a big systematic drill program along the Mulline and Riverina trends … and imagine how many more high grade underground mines that is that going to identify?

Mulline trend of 10km strike is potholed with old workings and has never been really tested below 50 metres depth and Riverina is open in all directions.