here is what Frank stated when Recently accepting the position...

here is what Frank stated when Recently accepting the position of CEO of ORD:

STATEMENT BY CEO

I want to thank the board for the appointment and their confidence. I am committed to industry best practice and will always place creating shareholder value first and
foremost. My long term personal interests are 100% aligned with ORD shareholders.

I have outlined a strategy and proposed new initiatives to the board. I like to briefly touch on them in this release.


1. ORD raised capital in the rights issue to fund a drilling program in Suplejack Gold Project. Despite the shortfall in the raising we are committed to this program. We
aim to secure a drilling contractor in early June and commence drilling in late June or
early July.

2. We are currently reviewing a corporate proposal that will expand our existing gold
projects in Australia and add technical expertise to the team. We will be in a position to disclose details in June.

3. In light of the challenging equity market conditions we commenced a review of the scale and objectives of the potential listing of SARCO with an aim to fast track the process to deliver value to shareholders. We are continuing to review feasibility study proposals. We expect to update our shareholders in June on both objectives.

4. We are waiting for an interested third party to conclude their due diligence on Copper Flats and make a final decision by end of May. If the party decides not to
proceed with an offer for Copper Flats we will decide on Copper Flats’ future in ORD’s portfolio in June. Copper Flats currently requires circa. $2million a year in 2 tenement rentals, council rates and minimum expenditures as required by the state governments of WA and NT. Clearly this is not a suitable project for ORD. If removed ORD will make significant savings in outgoings.

5. We will develop a PR strategy to raise awareness in the market of ORD being an independent and growing ASX listed exploration and development company. We expect to update our shareholders on this in June.



I am looking forward to updating our shareholders on the above developments and initiatives in the coming weeks. I am aware of the need to take action in this transition period. I assure our shareholders that the board and I are working very hard to ensure the best decisions and actions are taken.
I thank the board and our shareholders for their support and patience.

If you have any questions please contact Frank Zhu at [email protected]