from a leading gold analyst/broker today
—//—
Action
OBM's high-grade underground strategy continues to deliver, with production growth +100kozpa in FY25 and now anticipated higher production levels in FY26, as Sand King emerges as the next underground mine.
Speculative Buy retained,
Price target upgraded to 35cps, improved NAV 30cps and current Spot NAV 51cps (unhedged gold producer).
Sand King could potentially have a faster development timeframe than Riverina, simply as the fact that Riverina was historically mined for some underground ores, which meant decline development was required to get below the existing workings before first ore could be accessed (took ~7 months).
Sand King has only been mined as an open pit, providing good access to early development ores, with a potential development timeframe of 4-6 months.
Two underground mines supplying high-grade ore to the Davyhurst plant (+1.2Mtpa on 100% fresh ores) would lift production levels to +140-150kozpa @ < $1800/oz ASIC will deliver operating cashflow of $165 - $200 million per annum
from a leading gold analyst/broker today—//—ActionOBM's...
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Last
32.0¢ |
Change
0.010(3.23%) |
Mkt cap ! $594.0M | |||
| Open | High | Low | Value | Volume |
| 31.0¢ | 33.0¢ | 31.0¢ | $724.5K | 2.261M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 111111 | 32.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 32.5¢ | 18180 | 1 |
View Market Depth
| Last trade - 16.10pm 14/05/2024 (20 minute delay) ? |
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Last
32.5¢ |
Change
0.010 ( 3.17 %) |
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| Open | High | Low | Volume | ||
| 31.5¢ | 32.5¢ | 31.5¢ | 573839 | ||
| Last updated 15.56pm 14/05/2024 ? | |||||
| OBM (ASX) Chart |