I don’t think we can underestimate the importance of leading (conservative) institutions like Host Plus choosing to buy $30 million of an emerging gold producer that is yet to report a cashflow positive quarter.
There is no doubt in my mind that the fund manager would have needed to jump some hoops to make such a purchase.
Detailed research and modelling has undoubtedly come up trumps and we expect the reporting of past quarter (next couple of weeks) and coming quarters to confirm such.
I believe this is such a valuable validation of the investment we are very happily holding.
More large institutions will be coming for this company and to buy … they will be looking for big licks of stock during a period when the company will not be raising anymore more money.
The only way to get set will be on-market.
Compound that with the retail gold fund inflows that will be compelled to progressively accumulate on market.
Index funds will also need to be buying as OBM is now part of the All Ordinaries Index and the bigger the market capitalisation, the more shares that need to be acquired.
Mirror mirror on the wall, page-107
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Last
33.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $612.6M | |||
| Open | High | Low | Value | Volume |
| 33.0¢ | 33.5¢ | 33.0¢ | $199.2K | 603.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 59220 | 33.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 33.5¢ | 198413 | 7 |
View Market Depth
| Last trade - 11.51am 27/05/2024 (20 minute delay) ? |
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Last
33.0¢ |
Change
0.000 ( 1.37 %) |
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| Open | High | Low | Volume | ||
| 33.5¢ | 33.5¢ | 33.0¢ | 322273 | ||
| Last updated 11.47am 27/05/2024 ? | |||||
| OBM (ASX) Chart |