Cash is King

Although I'm heavily invested in and devoted to LEG, I also have a nickel mistress (a hot young thing that works out a lot; forgive my weakness). Like all young ambitious things she is money hungry, but has little discipline with spending... so she has been asking for money again lately.... and I again reached into my pockets...

Despite my contribution Fraser hopeful ORN has fallen spectacularly short in their CR. They aimed for $2.5M but got only 300k from shareholders and have only been somewhat rescued by the directors underwriting 1M. Their drilling plans for this quarter look like they are going to have to be scaled back.

I think ORN is a classic example of the majority of Fraser explorers.... they have highly prospective land but struggle big time with the funds to effectively explore.

If an experienced management team such as LEG can't do something good with over $20M I will be amazed...