Find me another ASX listed Co that has a project remotely close to these specs at even double the current ORR market cap, and I’d consider profit-taking a reasonable idea on some of one’s holding.
But there just isn’t.
Projects like this are hard to come by and to have an entry point into ORR at sub 50c per share after moving to 51% ownership is a gift. The insto’s were paying 48c when ORR owned much less, and judging by the trading we saw today it was them topping up and averaging down today.
I know the GoT negotiations aren’t a certainty. But they’re as close as you can ask and once it’s done they can press the green button and move forward... If they haven’t been bought out by then!
Wouldn’t be the first time Yates and his crew have made shareholders 10 bags via a takeout (OMC, Mantra, etc .... ORR?)
Good weekend to all. Let’s see what Monday brings!
ORR Price at posting:
26.5¢ Sentiment: Buy Disclosure: Held
