ORD secures funding support from Commonwealth Securities to take its Bauxite Project to feasibility
Ord River Resources Limited (ORD) has mandated Commonwealth Securities Limited (“CommSec”) to act as the underwriter of a proposed public offer of shares in ORD to raise $15 million.
ORD proposes to offer 120 million shares at 12.5 cents per share to raise $15 million. The public offer will be made under a prospectus to be issued after shareholders have approved the proposed issue of shares at a general meeting to be held on 1 September 2008.
Thats exciting news. I dont own ORD yet, but this is very interesting. To get one of Australias biggest banks behind ORD is impressive. ORD still needs shareholders aproval first, and shareholder meeting is on 1/9/08. I cant see why it wont go through. Any opinions welcome. Also, how many shares are currently on issue in ORD?
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