- They are our largest shareholder - We have their Chairman (Luo TAO) as our Chairman - They have offered us a $10 million loan facility - They have already agreed to take everything extracted from Copper Flats - They are basically running the Laos project on our behalf
ORD is simply an avenue for CNMC to acquire Australian mining assets. IMO CNMC pulls the strings for everything that ORD does. To be totally honest this was one of the main reasons I invested in ORD in the first place. CNMC provides ORD with business/investment contacts, access to large sums of money and mining expertise.
RUDD's mining tax plan will obviously not affect the Laos project which is our largest.
As Copper Flats is in it's infancy stages I don't expect the proposed tax to cause much grief there however it may deter some potential farm in partners from investing in the project. The same goes for our gold projects.
It would most likely affect any potential acquisition as they are targeting producing or near producing assets.
HOWEVER, I don't expect this new tax to get past the Senate and I don't expect Labor to win the next election....just my opinion though.
ORD are trying to make it as clear as possible that the market is totally ignoring the possible astronomical values of the projects being undertaken by them. It would have to be the bargain of the century at current prices.
Cheers....
VAN Price at posting:
3.6¢ Sentiment: LT Buy Disclosure: Held
