the next world class alumina refinery

The Lao JV agreement signed fifteen months ago took the Bolaven Plateau project from exploration stage to mining stage, required the building of a world class alumina refinery with a 30 year life. This followed three months pre feasibility studies by CNMINs Senior Mining, Technical and Economic Engineers, indicating at least 300 million tones of resource was achievable. This may be only scratching the surface as when the Lao Prime Minister's Office initially approved the project, the aim was to explore a Laos storage of Clay-bauxite of 4,300,000 tons or 143 million tons p.a.

Ongoing action was held up by the GFC until last March, when the A$5.3million Feasibility Study commenced for constructing an Alumina Refinery. Five months later Plats.com stated ORD AND CNMIM are planning a 20 million tons a year bauxite production for 5-7 million tons a year of alumina. Based on pre feasibility studies this would produce approximately 14 million tons of red mud with at least 50% recoverable iron. So, this refinery could produce 7 million tons of Iron as well as 5-7 million tons of Alumina. The day after the Plats.com statements, Kim Eng Securities stated contracts were being negotiated for bauxite mining, processing and transportation, plus an aluminum and power plant. Its all part of the planned US4 billion investment in the Bolaven Plateau, with the intention to later incorporate a smelter, run on cheap hydroelectric power.

It seems to me that development of the Bolaven Plateau is now reaching the stage of recommendation approval and funding. In preparation of this, complex confidential contracts involving numerous international consortia were put in place, which ORD as a partner in SARCO would not be privy to release. However, in the last Annual Report, it was stated that both ORD and CNMIM expect positive outcomes to include an upgrade in total bauxite resources and a recommendation for investment and development of the mine. They also reported they were analyzing funding and strategic options available to ORD in preparation for a positive investment recommendation and wanted to ensure that ORD can maximize value of its 49% interest in an appropriate capital and organizational structure.

Its understood our Executive Director, Frank Zhu was visiting China and Laos the past week and doing just that. In his ASX report yesterday, he reiterated confidence the project will develop into a world class alumina refinery. Frank is a professional person with senior experience in the Investment Banking Division at Goldman Sachs in Australia, is a CFA Charter holder and holds a Master of Commerce in International Business. He would be far away from jeopardizing his career by reporting things to the ASX that were untrue. I believe we are in very safe hands with Frank and the investment and development of a massive bauxite resource is now forthcoming. Not to mention, the need in both China?s and Thailand for this nearby quality resource. Or, the fact that ORDs Non- Executive Chairman is also the Chairman and President of CNMIN (a huge multinational Chinese Company and our largest shareholder), with the necessary expertise and finance access to make this happen.

One other thing, Ord?s share price is being manipulated and kept unbelievably low for some months and thats not even taking into consideration ORDs prospective Copper, Gold and Coal projects. Many on this board who watch transactions as I do on a daily basis would be well aware of this. Among other things, these low lifes have been artificially keeping the ASK volume higher than the Bid volume on a regular basis for some months now, whilst soaking up the shares of nervous shareholders at the lowest possible price. See ORD posting of 11/02/2011 called Beware of Robber Barons.

My advice to intended sellers, the train is leaving and this is not the time to be selling your shares. If you must, then go ahead off the board as these Robber Barons will come behind you and stifle your sell. I for one feel very fortunate to have got well set over the past months and await great outcomes, with patience.