united orogen - potential backdoor play

Just having a look at the new faces running the show at United Orogen.

The new directors run a company called Carling Capital Partners.

They are also actively involved in a company called Burraga Copper, which was supposed to list during 2012 under the code BCU - this didn't eventuate

Carling Capital Partners has purchased 60m of Iron Mountains shareholding in UOG at around $0.007/share (around half the current share price)

This is going to do a couple of things.

1. Inject liquidity;
2. Remove ties to the previous board of UOG, which can only be a good thing

UOG is just a shell now - ideal for a non-listed company to park a project into.

Whether any of Burraga's projects are actually any good remains to be seen.

Carling was heavily involved in Drillsearch's rise so they must be doing something right behind the scenes.

Marchello