I've read the announcement, it looks ok for ORD, not fantastic, but ok.
In ORDs' circumstances they dont have many options, (ie, no cash, no decent prospects that are fundable in their circumstances)
DAU has $3m more cash than ORD, and are looking for someone to fund the exploration required on these prospects.
If ORD can raise the cash for this they've done well, I notice that DAU say in their ann. that ORD are well advanced for the funding of this.
The deposit is not super high grade, I guess you need to ask yourself, "why isnt this already being mined?", given that the portal to underground is already built.
Obviously DAU is in a better position to fund this than ORD, Why are they joint venturing with a cashless junior?
mmm, all good questions, but a good attempt from ORD directors to move forward.
VAN Price at posting:
0.7¢ Sentiment: None Disclosure: Not Held
