O3 Mining owns more than 20% and insiders have been buying some this year. The stock has been weak, and now with market cap below $100M it may have a hard time attracting interest. Drill results over the summer were decent, but not spectacular. There has been very little news other than the coverage by National Bank. It had $24M cash as of June 30, but cash flow was negative $20M in the past 12 months. It is going to need new capital which likely explains the high target prices ($3.91 average) as brokers compete for deals. We do not see anything really 'wrong' here, but it is a small cap developer with no revenue in a very tough market. It will likely see some tax loss selling and we think we would look again after this and perhaps after its next financing.
5i Research Answer: