OBM is fast approaching this important milestone with a current market capitalisation exceeding $900 million.
Important milestone because it will push the company into the realms of interest for Index and Gold funds (local and overseas) that will need to start owning the company.
intriguing to watch the volume yesterday of over 12 million shares coming from numerous sellers.
Is this activity related to a big broker accumulating a principal position ahead of index inclusion, could it be Paradice Funds going to 20%, or could it be the start of some other corporate interest?
Regardless of the motive, there is clearly more buying building than sellers and I think it is likely we will now see the share price punching up to 55 - 60 cents in the near term.
OBM Price at posting:
48.5¢ Sentiment: Buy Disclosure: Held
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