Long suffering shareholders should quickly seek professional advice to determine whether they should be crystallising a tax loss at this point … and then reinvesting back into the company during rights entitlement.
Every indication does suggest this capital raising level around 5 cents should the level at which this company can finally turn around.
The major shareholder Hawkes Point has decided to average down, the WA border opens March 3, and the operational issues are being progressively addressed. Gold prices look strong, $25 million + in the bank, no debt, and the company is trading at a very substantial discount to intrinsic value (ignoring the $330 million in tax losses).
Let’s share some of our pain with the tax department.
OBM Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
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