I seems to me, as a fairly serious shareholder of ORM with a long history in the exploration business, that this discussion is being directed by several self-opinionated armchair explorationists. I refer particularly to Mospact who seems to think he knows a lot about exploration for REE, and is happy to bag the exploration director and favour the academic Ken Collison, who was previously doing some work for the company. I'd favour a man with plus 40 years experience any day versus an academic - Basically it is horses for courses. Incidently I was interested that Mospact referred some time back to fluorine bearing mineralogy at Killi Killi. I wonder where he got that information as I have searched the ORM ANNs, and maybe I am blind but I see no mention of fluorine.
Several other facts should be considered: (1) It was the Exploration Director's memory of significant REE in uranium exploration he did in 1969 - yes that's right: 1969 - that initiated this program. (2)The Tanami is a difficult unforgiving place if you put you foot wrong and the very intense 2011 wet season prevented field work until June. (3)I know for a fact that all the commercial laboratories are currently overwhelmed with work so it is no surprise that drill results are delayed, but who said that they were going to be released on 25/11/11 anyway? (4) There has been some sniping about lack of focus on known targets, but one should keep in mind that an airborne survey was a very sensible approach to defining additional targets, given the extensive sand cover in that area, and the need to secure tenure in the area. (5) There has also been some sniping about the focus drifting to gold - This was always a potential gold play given the proximity, and similar geological setting to, Coyote, Callie and The Granites in general. Why wouldn't one chase the gold story as well?
I'm happy to be patient and hang in there.
ORM Price at posting:
7.2¢ Sentiment: Hold Disclosure: Held
