Hi Everyone....l am reasonably new to ORD and just happy to sit back and wait.
l do like the bit where KEVI mentions his friend says that this stock will move in 5`s and not .5`s, wouldn`t that be something.
One of the posters mentioned this stock was once over a $1 once, hard to believe....so l have gone back on announcements to September 2006 where l think the following was released sending the stock to a $1 briefly.
thanks for your valuable input everyone.
SEPTEMBER 2006
MEDIA RELEASE JOINT VENTURE IN MINERALS PROJECTS IN LAOS WITH CHINA NONFERROUS METALS INTL MINING CO. LTD (CNMIM) Ord River Resources Limited (ORD) is pleased to announce that it has entered into binding agreement with CNMIM to form a joint venture (JV) to develop the interests of CNMIM in minerals projects in Laos. The interests in the JV are 49% : 51% between ORD : CNMIM. The first project to be undertaken immediately is CNMIMs 70% interest in rights to explore and mine the bauxite resource in a granted tenement in the Bolaven Plateau in Paksong District, Champasak Province, Laos. The 142 square kilometre tenement has an indicative potential of up to 400 million tonnes of bauxite to be proved by drilling and mapping. The balance of the interest in the tenement is held by a Laotian company. CNMIM is also in advanced negotiations to acquire further rights for the JV in a potentially large bauxite resource in the surrounding areas of the tenement covering in excess of 600 square kilometres. CNMIM will also be seeking other minerals projects for the JV in Laos. Since entering into Heads of Agreement with CNMIM at the end of February 2006, ORD has carried out due diligence and reviewed the pitting programs in the tenement that CNMIM commenced in December 2005. A summary of the initial technical results and potential of the project is in the attached Appendix A. Mr John Towner, Chairman of ORD said: The bauxite in the area compares favourably with the bauxite resources in the Darling Ranges in Western Australia that support 3 major mines and 4 alumina refineries. We are considering a potential World Class project in Laos. We want to develop it promptly. We have already purchased a drilling rig and are shipping it to Laos to start the planned drilling program next month. We plan to put our share of the JV in a subsidiary that would raise most of the capital to fund the project and that may later, if appropriate, proceed to a public offering. We need to manage the capital raising judiciously to preserve benefits to the shareholders of ORD. A Media Release by CNMIM is attached. CNMIM is a large mining entity based in Beijing with international interests and which entered into a Co-operation Agreement with ORD in November 2004 to develop opportunities for the Company on a global basis. CNMIM is a substantial shareholder of ORD. Company Contact: John Towner Patrick Sam Yue Tel: 0419 851 020 Company Secretary APPENDIX A Laos Bauxite Project Technical Summary CNMIM has a 70% interest in the bauxite project which is one granted tenement of 142 square kilometers. CNMIM have demonstrated the presence of bauxite with thickness averaging around 4 metres over much of the tenement. Minimal or no overburden is present over most of the bauxite. Potential is indicated to be present for up to 400 million tonnes of bauxite in the 142 square kilometers tenement, which will need proving by drilling and mapping. Negotiations to acquire additional areas in this bauxite province, exceeding 600 square kilometers, are currently in progress. Ord has carried out a due diligence study on the bauxite including detailed analysis of 51 samples from profiles of 11 pits covering the majority of the tenement area. Results of the analytical work carried out indicate the bauxite has low levels of deleterious elements and minerals including kaolin. The bauxite can be processed by the low temperature, low cost route to alumina. The Laos bauxite compares favourably with the bauxite resources in the Darling Ranges in Western Australia that support 3 major mines and 4 alumina refineries. It is anticipated that resources sufficient for a large scale mining operation with a very long life will be present within and surrounding the current tenement area. The attached map shows the tenement within a large bauxite province in Laos
VAN Price at posting:
6.0¢ Sentiment: Hold Disclosure: Held