Ultimately this is a project that should never have been given the green light given the prior history of this area, no matter what the DFS claimed at the outset. I believe that even if the OBM Board/management have displayed a level of incompetence, this in itself does not have any legal recourse. However, if they could be shown to have been negligent in the the course of the project due diligence and ramp-up this could have ramifications, but legally it would be very difficult to prove.
I think for marginal projects such as this, especially one's with an extremely chequered history, the DFS standards and due diligence requirements need to be of a much higher standard than normal for the benefit and protection of investors. Unless stringent requirements are met, I do not believe projects such as this should be allowed to proceed. Don't know how it could be legislated, but regulatory oversight is currently lacking.
You could argue that any Resources project creates jobs and supports local business and contractors which is true, but the flip side of the coin is the reputational damage to the industry and massive destruction of shareholder wealth.
- Forums
- ASX - By Stock
- OBM
- Ann: Operational Update
Ann: Operational Update, page-71
-
- There are more pages in this discussion • 38 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add OBM (ASX) to my watchlist
|
|||||
Last
52.5¢ |
Change
0.010(1.94%) |
Mkt cap ! $976.9M |
Open | High | Low | Value | Volume |
52.0¢ | 53.3¢ | 52.0¢ | $3.455M | 6.577M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 41484 | 52.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
53.0¢ | 273593 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 7514 | 0.535 |
7 | 32036 | 0.520 |
1 | 120000 | 0.515 |
1 | 1894 | 0.510 |
1 | 10200 | 0.505 |
Price($) | Vol. | No. |
---|---|---|
0.495 | 4000 | 1 |
0.510 | 16321 | 1 |
0.515 | 19230 | 1 |
0.520 | 20000 | 2 |
0.530 | 5943 | 2 |
Last trade - 16.10pm 22/08/2024 (20 minute delay) ? |
Featured News
OBM (ASX) Chart |
The Watchlist
SS1
SUN SILVER LIMITED
Gerard O'Donovan, Executive Director
Gerard O'Donovan
Executive Director
SPONSORED BY The Market Online