Disappointing decision by the Board. OKU has raised $71 million in the past 4 years to prove up their resource. The board put a raising price of 32 cents per share in 2020. Now, after all the exploration spend, the board accepts an offer of $90 million or 17.5 cents per share. They are trashing shareholder value. The company management must be incapable of converting the company from an explorer to a gold producer. The initial resource is 668,500 ozs x $A 2,581 = $ 1,725,398,500 revenue. The NPV value is substantially higher than the offer accepted by the board. Never invest in companies with any of these board members or management.
OKU Price at posting:
14.5¢ Sentiment: None Disclosure: Held
