(All sources extracted from ORD & CCD announcements,...

(All sources extracted from ORD & CCD announcements, presentations and its website.

Part A: Main projects for ORD:

1). Sino Australian Resources (Laos) Co., Ltd [SARCO] (bauxite for alumina and aluminium in Laos)
- 130mt JORC Indicated Resource. 32%+ alumina grade and 2% silica.
- Target 2-2.5Bt resource.

ORD (49%) and Chinese partner [NFC] (51%).
JV partner NFC is a Chinese alumina and aluminium plants construction specialist with an extensive track record of constructing alumina and aluminium plants around the world.

- Potential IPO to raisse $180-$200m, aim to be second to AWC in size in Australia.

- Capital expenditure estimated: $600m,
- 70% (Around $420m will be financed from Chinese bank at very low rate, currently Chinese lending rate is around 6.31%).

ORD will remain substantial share in SARCO post-IPO.(IMO, it would be 49% of the 70% which is financed, being 34.3% share in the new SARCO)

2). Copper Flats ($10.8m GRAM JV)

FIRB approved JV with GRAM.
ORD will receive $3m from GRAM, the $7.8m will be used to develop the project.

The $10.8m JV will allow shareholders to get a large exposure to ride the boom of copper price with less dilution.

Rock chip samples taken in November 2006 from various locations at the tenements contain percentages up to 42.5% copper. The average of seven rock chip samples over a 60 metre interval was 24.49%.

In many respects, the geology, structure and metamorphism evident within the Copper Flats Project, closely parallels that of the Michigan Copper Belt, which is reported to
have produced in excess of 9Mt of copper metal over approximately 160 years.

3). Suplejack Gold (Drilling Program commencing to significantly increase current 55,000 ounces)

Suplejack is located 30 km north of Tanami Gold?s operating Groundrush Gold Mine and 10 km North of ABM Resources? Hyperion Gold Project.

ORD interprets that there is over 200km strike length of untested or undertested structures that are often associated with gold anomalies.

4). Call option to purchase up to 10% interest in CCD with Market cap of $429m (Exposure to Coking coal)

ORD has the right to purchase up to 10% interest in Caledon at the same acquisition price. ORD is well positioned to benefit from value appreciation supported by continuing growth in long term demand for quality coking coal from Australia.

Acquisition status:

On 11 April 2011 it was announced by Caledon that GRAM has received formal approval for the Potential Acquisition from the State-owned Assets Supervision and Administration Commission (?SASAC?) on behalf of the Guangdong Province.


Part B: For Bauxite/Alumina project only, comparison with peers, ORD has top resource but LOWEST E/V.

1. ABZ: (E/V: $53m)?
- Market cap: $60m
- Cash: $7m
- E/V: $53m
- No JORC resource
- Exploration Target 200Mt to 300Mt

http://imagesignal.comsec.com.au/asxdata/20110419/pdf/01172695.pdf

2. QBL: (E/V: $35m)
- Market cap: $40m
- Cash: $5m
- E/V: $35m
- No JORC resource
- Exploration Target 250Mt to 300Mt for one of South Queensland project and 200Mt to 250Mt for North Queensland project

3. ORD: (E/V: $32m!!!)
- Market cap: $38m
- Cash: $3 + $3 from GRAM
- E/V: $32m
- 130Mt JORC resource
- Exloration Target 2-2.5 billion tonnes
?
Part C: What will happen in next few weeks/months?

1. Resource update from SRK expected near term as ORD announced on 2 May 2011.
Expected to significantly increase the resource.

2. Long term off-take is in negotiation.

3. Assays results from Suplejack Gold drilling program.

4. GRAM acquisition in CCD.

5. End of 2011 or early 2012 IPO of SARCO.

Royal Bank of Canada Capital Markets (?RBC?) has been appointed by SARCO as its Financial Advisor and Sole Lead Manager to a potential initial public offering (?IPO?) of shares in SARCO.

RBC is a global resource focused investment bank with .
extensive equity markets experience in the bauxite and alumina sector.

I upgrade ORD to Long Term Buy after I have done considerable research.

(PS: please correct me if wrong)
Enjoy yours weekend!