Today is shaping up as the most encouraging morning of trading in OBM for months. It is clear that all the weak holders have now sold their shares and the stubborn faithful have probably crystallised their (tax) losses and reinvested back in by way of the rights issue at 5. They will be holding now for a good move. The selling appears to have evaporated today which makes me wonder whether the stock has been suppressed around 5 until the issue was closed. The shortfall details should be available soon and I’m hoping Hawkes Point will have galloped up above the 50% ownership level. It will only take the sniff of a positive rumour (whether operational or corporate) and this stock could rush back up into double figures. GLTA LT
OBM Price at posting:
5.2¢ Sentiment: Buy Disclosure: Held
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