After the June 30 tax loss flush out of many big old stale shareholders, the following demographic appears.
- if you own 10 million shares, congratulations, you are now in the top 10 shareholders - if you own 5 million shares, you are now in the top 20 shareholders - and if you own only 2 million shares, you are in the top 50 shareholders
The register is devoid of any institutional investors (except Hawkes Point at 45%) and many of the shareholders represented in the top 50 have only appeared in the last 3 months.
Where is the selling going to come from when the institutional investors and Luke Creagh’s buddies realise this could be another Northern Star one day??
All it needs is a couple of quarters of consistent performance and some new high grade, shallow gold exploration results nearby the plant.
Morningstar fair valuation was indicated at 13.4 cents per share on Friday.
OBM Price at posting:
5.5¢ Sentiment: Buy Disclosure: Held
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