OBM 0.00% 31.5¢ ora banda mining ltd

My first thought was that it was only ok. I like that they...

  1. 3,464 Posts.
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    My first thought was that it was only ok. I like that they haven’t tried to sugar coat it by using high gold prices as the base case. I get the feeling this is a more genuine DFS than some in the industry.

    AISC probably on the high side of what I expected. I hadn’t thought about it too much but maybe expected something closer to A$1400/oz.
    Pre-production capex also on the higher side but I guess a lot of this relates to pre-stripping (those strip ratios do scare me).
    Reserves on the lower side as well as ounces per year

    I’m not really sure what the market was expecting. As was written above, I think the financing comments may have spooked a few too.

    Don’t know why they would be looking to do a pure equity raise, perhaps the debt market is hesitant to lend given the past of the asset.

    I’ve only ever had a small holding as a bit of A$ gold leverage and near-term cashflow.
 
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