Let’s reflect again on valuation

Today the market capitalisation of OBM is still only ~ $82 million
The company has $32 million + cash and no debt, so the intrinsic markets valuation is indicated at only $50 million.

That $50 million is represented by
- a fully operational plant, new energy system and accommodation facilities with a replacement value of $180 million
- the company has drill proven reserves, resources and exploration territory around old high grade mines valued at more than $200 million
- it has $300 million in tax losses
(see recent ASX release title Values & Strategy)

The reality is that when this company starts feeding in the higher grade ores and consistently making a quarterly profit, the revaluation can quickly rocket to levels around 15 - 25 cents and still look sound value.

My broker is telling me to expect some exploration gold assays announced before the quarterly report is released in October, so maybe that’s the next catalyst for an upward move.