I wasn’t reading anything into it. Just stating some facts.
If you want a read here it is.
I used to work for a guy who was setting up a valuation data base for industry, that captured the value of mineral project transactions all around the world based on the arms length sale prices of those transactions. So it might be a distressed sale as you say but it still represents an arms length transaction. The reasons that drove Acacia out still hang over the project. I doubt Western bankers are going to be tripping over themselves to be financing this project anytime soon. It might attract more capital from the speculative equity markets or as previously discussed a Chinese buyer. All in all the options has just narrowed in my opinion. The call for 50 cents by Euroz probably reflects more hope than reality because until a DFS is completed and a CapEx is properly established, the share price will be moved around by the people holding the bag to suit their agenda.
Once the DFS is out in the light of day quite a bit more water will have gone under the bridge (and money) and investors will be able to see the likelyhood of the project being developed far more clearly. I think unless a Chinese buyer gets flushed out or the woodworks this project still has a long and up hill road ahead of it. You could have money parked here for a long time while the share price drifts back to post announcement levels as the market goes back to sleep. The brokers will only pump it up for so long. The local brokers around here and their clients are more generally flippers than long term cornerstone holders IMO.Esh
ORR Price at posting:
26.5¢ Sentiment: Hold Disclosure: Not Held
