update, page-61

Well team, announcement watch lasted 3 days and I have to say I couldn't help but laugh when I read the announcement. I think it was Glen's attempt at a joke. That seriously could not have been a update for a company with so many irons in the fire.

I will be upfront, OBJ reminds me of those penny dreadfuls that actually have something going for them and they know it. Their aim is not to look after shareholders, but to let those close to the action in on the gravy train. They certainly don't get paid enough to care about what shareholders think when compared to other PLC's

Don't think I am complaining because I firmly believe that this company will be a different one in a few years and I am just happy to have the holdings that I do. I just see through that attempt of an announcement we just had. I'll take you through the body language which leads to me think that something significant is or has taken place recently.

1. Everyone on Hotcopper complaining that there hasn't been an announcement. All of the sudden there is an announcement, light on but still an announcement.
2. The 'as at' date listed at the top of the announcement. It was very specific which is in direct contrast to previous updates which has been the dated the day they are released.
3. The major activities that the company has previously announced has either been downplayed or omitted.
4. The amount of accumulation that has occurred of late, hmmm one wonders who they are and there has been no volume.
5. Cash burn was significantly low. No one has walked away, I can tell you that much

IMO the announcement was a smoke screen. Happy to be proven wrong.
We will wait and see but I think we will continue to see accumulation over the next few weeks.