OAU 0.00% 0.7¢ ora gold limited

I feel sorry for those long term believers that are now feeling...

  1. 12,484 Posts.
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    I feel sorry for those long term believers that are now feeling it.

    If you trawl back over these forums, in general there was a grace period given after Fukashima, within which there was discussion about renewed focus and direction. If I recall correctly since that time we saw the testing of Pyramid, and a hole or two at Priscilla and Allamber - all worthwhile work to have been done, IMO, at least to establish baseline premises on project prospectivity.

    But obviously, these guys need a much more acute sense of direction and focus to get the market's attention and reverse sentiment. A large greenfields VMS discovery in the Pibara would do the trick, a risky option - or is there a surer bet?

    Which brings me to Red Bore. Some time ago, the company twinned some early holes to collect very high grade chalcocite for metallurgical testing. Since then we haven't heard a single thing about Red Bore. Why suggest that metallurgical testing will be done when there is no deposit as yet to speak off, and no plans to follow up?

    5% of votes is not a lot needed to stir some action. May I, with all due respect, suggest that if holders are going to lobby management, that as well as calling them a bunch of dills, they could suggest an alternative path forward.

    What about a release of the assays from that "missing" metallurgical core from Red Bore, along with a do or die commitment to flog that tenement with EM and drilling. There is enough cash to at least get a very good head start there. I think that would attract the market, I for one, would consider buying back in on that basis. Basically holders don't have much to lose, IMO. SP must be close to tenement asset value. Or maybe others have a better idea.

    Clearly management have put Red Bore to sleep. If they aren't going to pursue it, they could at least provide an explanation why. It does seem odd to go from metallurgical sampling to absolutely nothing, IMO.
 
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