John BurzynskiHad a chat today with John B. He said a corporate update will be provided in the near future. He appreciates the frustration of shareholders/investors, however he reminded that it takes time to build a proper foundation for growth. He is highly confident in their consolidation approach, and believes that the cash balance they've built up will help ensure Oban's future success. Yes, this comes at a price, but he encouraged us to look at the bigger picture. He also said that stronger hands are acquiring shares - volume of shares traded has grown due to institutional support.
There was a fairly large seller recently, however it appears they're done - John and his group worked diligently to find buyers for the shares, to ensure the stock price did not drop further than it did. John personally acquired 50,000 shares at market yesterday - he sees great value at today's prices.
It was a 10-minute call and there was only so much we could cover. John wants investors to know that Oban's senior team is accessible, and that they're building out Oban strategically, much like they did Osisko. This requires patience.
Hope this sheds some light on Oban and what is happening at present. I'm sure we'll hear more in the coming weeks.
-- MM