I am hearing that there are many institutions overseas and domestic that have looked at OBM seriously for the first time ... only because of this $30 million placement
Very few of those investors have received an allocation that satisfies their new appetite, particularly if OBM does deliver 2 high grade underground mines feeding a 1.4 mipa plant by the end of 2024.
I think we will reflect back in 3 months time when the stock maybe north of 40 cents and realise this initiative was the game changer ... the placement has introduced a whole new audience o large professional gold investors to our story... many had not really heard or understood OBM beforehand and/or couldn't deal because of poor market liquidity and/or had no idea that someone the quality and experience of Luke Creagh had been the person turning the ship around.
What a great story... maybe a baby Northern Star in the making??
Sit tight now and watch how this company can grow with a bullet proof balance sheet, a strategic Wesfarmers relationship, growing gold production profile, progressive reduction in unit costs etc etc
My bet is that Luke will now turbo charge that exploration budget (up another $6 million) and those 2 new plant motors will be installed before June 30.
OBM Price at posting:
24.0¢ Sentiment: Buy Disclosure: Held
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