Positive Macro News1) World economy expected recovery of 4.7% in...

Positive Macro News
1) World economy expected recovery of 4.7% in 2021, after contracting 4.3% in 2020
2) US US$1.9t stimulus to boost US economic output by 5% over next 3 years
3) Rollout of vaccine continues to support equity as investors look towards a return to normal life at some point in 2021, resulting in higher GDP and more robust corporate earnings.
4) New economic expansions have historically been great for risk assets, looking at last 10 business cycles dating back to 1950. Expect boost for cyclical sensitive assets, such as small cap and value equity, laggards, out of favour segment. Rotation play into undervalued counters started in 4Q2020.
5) Climate change to feature prominently in the Biden administration. China committed to rein in pollution and drafting new strategy through 2035 to combat climate change.

OMH to benefit from high FeSi prices
1) FeSi prices continue to march higher, from a low of US$1,000 to now US$1,400-1500. This is equivalent of huge GPM of 40-50%, generating strong cashflow for OMH in 1H2021.
2) High FeSi and MnSi prices expected to sustain in the light of (i) China restricting domestic production to curb polluting industries (esp the smelting factories) and power shortage (ii) New demand from global stimulus injection and additional infrastructure development. Strong demand to come from US as their domestic supply is limited

OMH is grossly underpriced
I agree fully with Rocket that OMH is currently grossly underpriced with forward FYE 2021/22 PE of only 3-5x. When compared to its industry peers, it is especially glaring. If you look at Lynas, their production level at 75% (quite similar to OMH), net loss of A$19m for FYE Jun2020, yet their share price is all time high at $4.66 (more than double its all time high before Covid), raised A$400m share placement, 8x bigger than OMH. It is especially so when you compare with Press Metal at PE 72x. OMH current price of A$0.85 is still 50% below its high of A$1.70 in 2018.

Bursa Listing will be another catalyst event in 1H2021
OMH Bursa listing should be the key catalyst event that will propel the stock price to a new high which could match the PE valuation of Press Metal. Bursa listing will bring OMH into the spotlight and the path of liquidity flow. What OMH has been sorely lacking in the past many years has been the lack of publicity, IR coverage, and institutional investor interests, and liquidty, which result in the depressed share price and gross underpricing for OMH. The Bursa listing should be able to help OMH address the above issues while we see the big profits for OMH rolling in in 2021/22 onwards as the commodity sector continue to shine.

I am very confident the stock should revisit its recent high of $1.70 leading up to the Bursa listing, while riding on high smelting profit margin in 1H2021. The Bursa listing will provide a boost up for its share price from $1.70 to a level that all the shareholders will be handsomely rewarded (and shorters running for cover in a short while).