I have 3 HINs eligible for ORD SPP and an Express Post envelope...

I have 3 HINs eligible for ORD SPP and an Express Post envelope and $15K in the cheque account at the ready. These entitlements did not cost me anything as I sold my small or minimum parcels after the record date for more than I paid. In all, I made $25 after the 6+ commissions are subtracted (old HIN = +$40, new HIN = -$60, my HIN = +$45). I currently hold no ORD. Eliza rang me this morning in dulcet tones for ORD re the SPP - a very polite reminder.

However, this announcement came out today:

"Ord River Resources Limited advises that 57,182,744 fully paid ordinary shares which have been subject to restriction agreements will be released from escrow on 8 March 2007." These are noted at clause 38 on the Appendix 3B.

"Number and class of all securities quoted on ASX (including the securities in clause 38) = 142,330,411 Fully paid ordinary shares" I read this as the number of ORD is about to roughly double.

I suspect ORD may have something very significant at Copper Flats but there are just too many factors today:
- market slump; is it likely to continue
- so few posts anywhere on ORD and the negativity is odd
- will the escrow ORDs be dumped after March 8 - did the owner get them for free and do they need cash urgently or do they want out in an uncertain stockmarket?

I think on balance I'll stay out of ORD for now. Instead I am spending some of the $15K on LNN, PRG and ARU today. Less form filling and seemingly more secure.

Good luck to holders - you may be on a multi-bagger with ORD but the market yesterday unnerves my appetite for what appear to me to be the more speculative situations.