Guys - I continue to follow ORD's project and corporate manouverings with interest. Was a holder for a short period before the announcement of sale of the Lennard Shelf.
There is just one thing I can't seem to get my head around, and I was hoping a poster (or 2) may be of assistance.
MII sells Lennard Shelf to NWME for $78m, that great. NWME stay on as "cornerstone investor"; strange, probably only for ST period, but ok. MII has estimated $68m in cash post sale.
But then here's the bit I find really hard to comprehend. MII then goes snd enters into an agreement to buy 75% of a gold project. Not here, not in Asia, but in the middle of the most isolated and coldest place in Russia (well it looks like it).
So my query is this: what expertise does MII have in exploring, constructing and running a gold mine in Russia? Also the resource is not JORC measured as yet.
Very interested to see comments.
MII Price at posting:
11.3¢ Sentiment: None Disclosure: Not Held
