I really find it hard to imagine OBM would drift back below 30, so given likely improvement with fundamentals in coming weeks, a breakout about 35 on volume will be my trigger to add to my holdings. 50 cents my amended target for Christmas and second quarter 2021 for some corporate action.
Some interesting regional exploration results and a remodelling of the current conservative resources/reserve position .... which could re-tuned to the current (30-% higher) A$ gold prices would also be welcomed by all shareholders.
I’m no expert, but I would have thought that could increase pit shells and mine life materially?
Minority investors OBM need to appreciate that there will be no exit for Hawkes Point other than a friendly corporate take over, where they would likely receive scrip in a much larger more liquid successful listed gold mining group.
Hawkes Point (~47% shareholders) have been around long enough to know you can only do such corporate things whilst the commodity is trending up and the share market is bouyant (i.e. they need to deal well before market peak, as no chance after).
I don’t think I would want to be based in London/USA as the controlling 47% shareholder of OBM after DQ leaves CEO role next June.
Evolution and Kirkland Lake are both understood to be on an acquisition path... so once OBM a bit further de-risked with plant commissioning and proven recoveries, anything could happen, at any time.
Shareholders will get no hints here because there will be no need for pre bid stakes etc. and the friendly potential buyers will have likely been in the data room for months progressively ticking off boxes and now very closely watching plant recommissioning performance.
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