Ann: Company Presentation - 121 Conference London, page-12

Assuming OBM are spitting out $200 million + free cashflow a year, a $100 million dividend should reflect into a ~$2 billion market capitalisation (5% yield)

If the market then doesn’t rate it fairly … and cashflow outlook is strong, they should start buying back stock (5% per year)

If OBM won’t do initiatives like that, they will be undervalued and vulnerable to takeover at discount to fair value.

If/when OBM is producing at a rate closer to 200,000 ounces pa (than 150,000 ounces pa) maybe in the next 18 months, on current $A gold prices, the world will be their oyster (and margins over $1500 an ounce)

i just hope in future they will focus primarily on organic growth opportunities and not go out and do an expensive/dilutive merger with another group just for the sake of growth at any cost to satisfy institutional investors.

With such a large highly prospective inventory of leases, anything is possible with the volume of $$$’s that can be annually thrown at sound exploration.