meritocracy

And by way of meritocracy & wages, examples include:

Australian PM, Julia Gillard earns A$512,000 for the current year.
UK PM, David Cameron earns the equivalent of A$227,000.
US President, Barrack Obama earns the equivalent of A$408,000.

Figures taken from SMH


Peter Shou, the ex Managing Director of ORD, remuneration from ORD was scheduled to be A$522,166 for year commencing 2011 -2012.
Frank Zhu, ex Executive Director and company secretary, was due A$328,719.

These figures are taken from ORDs 23/9/11 statutory accounts.

ORD had no income and a net loss of approx $5.5m last year.
Currently has a Market Cap of just $14m from $50m - from less than a year ago.
ORD currently has approx $4.5m in cash.. after the recent CR.

NB Please do correct me if i'm wrong on any of the above figures.

Obviously some basic housekeeping is now required from ORD in all aspects, including the appointment of the new CEO by way of example and leadership.

No projects are currently at this moment in time active, ie being explored, drilled or producing.
Copperflats which had great potential for so long, is now to be off loaded in an apparent cost saving exercise, even thou there is one party in discussions.

I would also like to point out that during a very important CR for ORD, with more than half a dozen phone calls over several days and e mail to ORD office by myself, there was no response or answer.


A full statement, is, i think paramount, by way of introduction and transparency from the Non Executive Chairman & Board for the new CEO appointment & ORDs new strong turnaround strategy, to show a solid team effort and successful future for ORD.


Thanks very much.



dw