SBM have just announced they are acquiring BDC, which makes sense, due to the rail line option for transporting the ore, plus, they plan to upgrade their plant and need multiple U/G feed sources. They are acquiring BDC for peanuts, but then... its deposits only really work when fed to an existing plant. Using all script too.
In any case, my only real interest is that this likely means OBM can potentially acquire the Mulwarrie deposit from SBM, as I highly doubt they have any interest in it at all.
10km away from the plant... open pit. High grade. Basically exactly what they need at Davyhurst.
Just needs a bit more drilling to really prove up the resources.
79,000 ounces, albeit inferred, could easily add another 6 months mine life. Plus, you can clearly see how small the initial pit was. A lot of gold to be mined there. I realise that after the sale of the northern tenements, this might seem a strange move, but... OBM can actually make real money off high grade open pits.
With the POG above $2500, OBM should either just put itself up for sale (like BDC did) and get a paltry offer, or... start showing the market that they have actually turned a corner.....
OBM Price at posting:
6.7¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)