I would expect some consolidation around 5 cents given that this was the level of the last capital raising. The next breakout later in the qtr may take them back to 10 cents if the next news catalyst was very positive. Coming news on the horizon may be drilling results from Callion, the monthly (June) production numbers, and/or the quarterly report late July.
Every indication to me that the momentum and sentiment is changing on this stock.
Hard to imagine it was briefly a 36/40 cent stock, and not such a long time ago … and it wasn’t being managed by a former Northern Star … Chief ‘Operating’ Officer … in those days!
I think small cap gold funds are going to really love this story once OBM numbers can confirm that the plant is operating reliably, sufficient developed ore on the pads for efficient blending, cash at bank growing, and high grade exploration upside.
Luke Creagh at the helm will give it the credibility required.
OBM Price at posting:
4.9¢ Sentiment: Buy Disclosure: Held
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