Ora Banda Mining (ASX:OBM) set to undertake $21M placement, page-10

Hey DF, honestly, it does frustrate me. As for the why..... metallurgy testing was done, but... I am as perplexed as you.
Considering the pit was actually mined in the past, I agree...

@thecrabpest - lots of reasons for the selling. Going from past experience, it is rare for a company with issues like OBM to simply bounce back. It usually gets worse before it gets better? Tax selling is def going to be a factor.

@laverton - great question. The fact that Haweks was not mentioned, tells me they are not fully participating. Which sort of makes sense, risk wise, but.... it's not a great look and at the least shows me that OBM has gone from a sure thing to something else (for Hawkes at least).
If corporate action was near, they surely would have taken up their full allotment, but... hmm.