Euroz Hartley update now has a price target of $1.24 per share, but do also currently value the company at $1.61 per share, when modelling future sales numbers based on the current spot price of $A gold
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conclusion quote as follows;
Exploration remains a key driver of value for OBM, and we continue to be impressed by the drill-success rate and new emerging high-grade lodes for organic growth.
Waihi is presenting well as the next underground mine, and other Round Dam prospects are quickly moving up the priority list, underpinning the plant expansion opportunities.
We have increased our gold price deck (Fig. 10) and exploration value, which lifts our OBM NAV to $1.12/sh (up 27%) and Spot NAV to $1.61/sh (P/Spot NAV 0.59x), and a higher PT of $1.24/sh on 75% to 25% EH deck to Spot weighting, or 1.1x NAV
OBM Price at posting:
98.0¢ Sentiment: Buy Disclosure: Held
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