This is a big negative for me...... Anyone who reads the BDR thread will know my view of simon jackson the current Chairman of Orca. I did a little research into Orca recently due to the capital raising that has been going on at BDR. Orca is not your typical junior, it is backed by some serious mining muscle. The Lundin family own 31M shares of Orca (19% prior to this deal)……For those that don’t know the Lundin’s are Canadian mining royalty, they own controlling shares in numerous multi-billion dollar companies, I think the biggest is Lundin Petroleum with a current market cap of C$90B – they own nearly 30%.......They also have big chunks of Lundin Gold(C$1B Mkt cap) and Lundin Mining(C$6B Mkt Cap)……..Funds and mining know-how are not an issue............A number of the senior management at Orca are also entwined in other Lundin controlled entities…..This is not your typical Junior……..more like a Lundin Group satellite company….is it the runt?
Stepping back, what is Lundin’s motivation for allowing RSG to come along and significantly dilute their interest?.........Is it that it’s really not as good as it first looks?.......Lukas Lundin as Chairman of Red Back certainly did Kinross no favours when he sold them Red Back at a grossly inflated price……….Buyer Beware!!!!!
RSG Price at posting:
$1.17 Sentiment: Buy Disclosure: Held
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