Ann: Brief Update , page-60

More anger than panic SSkim and for good reason.

I think these guys blew their own trumpet a bit too loudly and a bit to soon. No blowing of that trumpet now because they have done nothing for over a year now and the SP is a reflection of this inactivity.

Their main focus being LAOS is correct but they don't control what happens there.

18 August 2010 they stated "We are committed to increasing our exploration work in Suplejack. We hold a strong belief that there is a much bigger gold resource potential than what we currently have certified under JORC. We will fast track our mapping and drilling program to carry out the necessary field work in 2010 with an aim to lift resource in the future". ORD had over $4m in the bank then.

Then came the Caledon deal. They boys were busy getting paid while they worked on this deal for GRAM with the promise of a percentage of the deal at a future date of their choosing at the original purchase price. I was a fan of the Caledon option when it was first announced as it sounded like a win/no loss situation but there have been suggestions that GRAM want the option to be finalised soon. Was this deal too good to be true?

Then came the CF JV which was a good idea at the time but it seems they relied for this to be approved before doing anything else on their other tenenments.

And come March 2012 they state CF JV not approved and they are committed to developing the SJ project. How much mapping and evaluation and expression of committment on SJ must take place before they drill a hole in the ground?

So in the end the ORD guys have achieved zilch for ORD on ther own even with their powerful Chinese connection and supposed big $$$ backig. They were side-tracked with other deals, potential acquisitions etc and got their priorities wrong to the detriment of the shareholders. Now they are short on cash to progress the SJ project to which they are committed to developing. Give me a break.

When ORD management goes quiet and there is not the flow of updates like there used to be, you can bet it means nothing is happening.

I'm still holding because of LAOS which could be big but I can say I am angry but not panicked