Just started following this stock recently
I am interested to hear peoples’ opinion on the involvement of Mark Creasy.
On one hand it is a great accolade to the tenements that Creasy is involved and gives credibility to ORN above other nearology plays who have recently pitched tent in the Fraser Range.
But why was Creasy willing to transfer these tenements to ORN in exchenge for a minority holding in the company? If they are so prospective, then why let them go for a song? Sure he is still exposed to the upside via his small holding, but why dilute himself when SIR should be able to explore their own tenements further?
I’m assuming that he and SIR still have good standing with the banks or other sources of finance, so why do this trade for a few million dollars worth of stock? Their last CR was done with ease..
It would be a bit like SFR transferring part of their ‘corridor of riches’ to Sipa or Vetnor for a minority stake in a junior. Instead we are hearing rumours that SFR are on the acquisition trail instead..
I understand that SIR need to raise 100’s of millions in order to get to where SFR are at, but the ORN deal is only a few mill so why bother when the potential upside should be so huge??
Not up or down ramping, just interested to hear what you have to say..
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