Wasa, Frank and Peter are fully aware of when Chinese New Year falls, not only did they quote the dates but Peter went to great length to point out just as you did that everything virtually stops for a month at this time.
So to confirm what chawkey posted earlier - ORD are awaiting and expect to receive approval from the government for GRAM to invest into Copperflats before the Chinese New Year. Once approved it means an immediate upfront $3 million cash injection to ORD from GRAM.
GRAM then has right to acquire up to 51% of the CP project for a further outlay of $7.8 million (to be invested in exploration of CP.) Note that while ORD will get $3 million upfront regardless the rest of GRAM's investment is proportional ie $152,941 per percentage point up to 51%.
Re SARCO - Another point Frank made was that the Laos Government is only able to support 2 or 3 projects of this nature. I'm not sure how many other companies (Frank mentioned BHP) are sniffing around but who ever gets their act together first gets the Lao Chocolate Box gift wrapped with compliments by the government.
After the first 2 or 3 slots are filled according to Frank it will be very difficult for anyone else to get licensing for a greenfield site.
Conversely for those who did get a guernsey it will be carte blanche.
So although at times it may appear to us Ordites as though things are moving frustratingly slow, ORD management is acutely aware that speed is of the essence in Laos and they are working hard to get this project off the ground and locked up with the relevant parties.
VAN Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
