Ann: Ora Banda Completes Davyhurst DFS, page-47

Hey smart.
I very much agree (and also with your post after this). The value proposition of OBM is amazing, when compared to pretty much anything else on the market. There are so many explorers with market caps close to OBMs, with no plant, some gold (but no reserves) and no $250m in tax losses.
But then, deep value is rarely appreciated until a purchaser makes an offer.

Just look at CDV.

I just think a little patience is required, but... I imagine many are simply here for short term profits, which is fine. But I feel it would not take much to drastically change the new LOM through either exploration (even just boring infill drilling), or the purchase of another nearby deposit.

Anyway, I am a bit ambivalent to whether they raise capital only, or a mix. Not being beholden to the banks, would mean little, or no hedging.... which would then turn OBM into an even bigger leverage play on higher gold prices. Though I would prefer some options being bought/ The deep value means the downside is protected, but the upside...

@nordesmic - appreciate your comments/analysis and I personally like that you have your toe in OBM. I do really feel your point about the DFS is accurate. Its a no frills DFS. It's why they spent so much on the infill drilling. Not supposed to be a sexy project, just reliable.

$70 more in AUD, and OBM margins will be $1000 AUD (at spot of course, which cannot be guaranteed going forward).