Ann: Brief Update , page-14

If I go to work every day for a year, my boss would expect me to do more work than the points you have listed.

I don't necessarily mean to hate on ORD - we have certainly all seen similar things on other spec stocks. It is, as you noted, the way of it.

That said, at least if a random company has a random coalfield in a random country, there's some sort of line of progression to get from here to mining. Where is that with ORD? All of those options seem to rely on others, rely on outside/convoluted funding/expertise, and so forth. There's not much ORD itself can peg its hat to and say "we are doing this".