Another big win for ORD establishing a Joint Venture Company in Australian to focus on exploration and mining investments in Australia and Asia Pacific. And with a major Chinese company with Guangdong Rising Asset Management Co., Ltd (GRAM) whose assets last year were 45 Billion Yuan. ORD, of course, is a big winner now having a huge asset backing to establish itself as a major mining enterprise.
Moreover, the first joint venture will be Copper Flats, with GRAM funding of $10.8 million or approximately 2.3 cents a share. GRAM mainly deals in the non-ferrous metals industry and would know their stuff. So, I think it is a safe bet GRAM gave careful consideration to the quality of both ORD's Management and the potential of Copper Flats Project.
The icing on the cake is that ORD will bank $3 million and is well cashed up. So, funds are there to drill Supplejack or buy into Caledon and the like.
All this, and the Bolaven Plateau project potentially a major world Bauxite resource project and soon coming to fruition, I just had to top up today with my ears back (thanks seller). ORD though still not on the general investor radar, soon will be and then watch it take off.
VAN Price at posting:
4.8¢ Sentiment: Buy Disclosure: Held
