I found slide 14 particularly interesting … outlining 10 kms of mineralised strike (gold values in soils/air core/RC drilling) with no drilling below 100 metres … where has all that gold come from??
Clearly there may be open ended potential for repeat underground mines along strike that enables long life organic growth.
Siberia trend and other outlying structures increase that long term potential further
I was also most pleased to read confirmation that the reconciliation of Riverina underground ore reserves and the actually mined material demonstrated that the average grade mined averaged 4.7 g/t (against the 4.2 g/t estimated in reserve) … a ~15% increase
implication … if/when OBM is eventually processing 1.4 mtpa x 4.7 g/t x 90% recovery, we could then be producing gold at the rate of 175,000 ounces + pa
i still can’t find another emerging gold producer that is better risk/adjusted leveraged to the sector over the short/medium/long term
OBM Price at posting:
39.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)