Some reasons why ORD may be coming of its low with buying coming in at .20c
First of all, significant announcement on capability statement and press release (12th March) on Sarco. SARCO presents roadmap for building a World Class aluminium industry in Lao PDR Sino Australian Resources (Laos) Co., Ltd (“SARCO”), a Lao registered company jointly owned by Ord River Resources Limited (“ORD”) and China Nonferrous Metal Industry’s Foreign Engineering & Construction Co. Ltd. (“NFC”) today outlined a comprehensive plan for establishing a Project for a World Class bauxite mining, alumina processing and aluminium smelting industry on the Bolaven Plateau in Southern Laos.
Secondly, implications for bauxite production given pending bauxite shortage in China which I have copied from poster on UMC site (sorry forgot name)
In short app 1/2 of all Chinese Bauxite (and growing very quickly) is imported, about 70% from Indonesia. Indonesia is currently closing a lot of the unlicensed mines due to enviro degradation.
The view here is the bauxite supply balance "will be pushed into deep deficit".
Finally, on the 13 March 2008 announcement outlining SIGNIFICANT STEPS IN THE BOLAVEN PLATEAU BAUXITE PROJECT IN LAOS. To quote from www site Significant steps have been taken by Ord River Resources Limited (ORD) in the development of the Bolaven Plateau Bauxite Project in Laos. The Laos joint venture company Sino Australian Resources (Laos) Co., Ltd (SARCO) - owned by ORD and its Shenzhen Stock Exchange listed partner, China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd (NFC) - held a workshop yesterday evening in Ventiane with leading officials of the government of Laos including several Director Generals and Deputy Director Generals of relevant departments. The purpose was to consider a vision for a joint development of an integrated aluminium industry in Laos where indications are that substantial bauxite resources are present. Since ORD’s first involvement in Laos in late 2006, very substantial commitments have been made to the bauxite project in the Bolaven Plateau. In summary: • Work in excess of US$ 4 million on bauxite exploration, UXO clearance and associated works have been carried out. • With over 1,000 holes for 10,000 metres of bauxite resource definition drilling completed, SARCO will be the first party to publish a bauxite JORC compliant resource estimate for the Bolaven Plateau later this month. Further upgraded resource estimates are planned to be released progressively during 2008 as the results of the over 8,000 outstanding drill samples are received and further drilling are carried out. • Substantial studies of geological and satellite imagery of the entire Bolaven Plateau, extensive surface mapping during the pegging of over 2,300 drill hole sites, initial drilling results and visual estimates of bauxite thickness from drill logs within the area explored have provided SARCO with a very comprehensive knowledge of the geology of the Bolaven Plateau. • SARCO has invested in substantial training and skills upgrade for Lao Nationals working in its operations and has established international standard Operational Health & Safety systems.
regards Rosee PS Topped up at .20
VAN Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
