I too have been holding for some time now, and with the outcome of the AGM, and replacement of two board members, as well as directors not supporting there own share, by putting there own money in to it, it all starting to smell. ORP was flat when the market was rocketing and is coming down when the market pulled back. It is the perfect scenario of share manipulation, slam it down when it wants to move, don’t support it when its heading south. This can only be part of a bigger picture. the top 20 are not like you and i, they didn’t invest there pay pack into this. they can wait the next 5 years should this take that long, and they will keep this share down as long as the co is selling shares to pay for running costs. The co needs to get a JV in place, someone with the know how and cash to get this project on its way. Or just sell the bloody thing. I would hate to be correct but this is starting to smell like RRS, and a bottomless pit.
I keep telling you ANTAM has the motive and the reason to keep this share price as low as it can, they want this project all to themselves and would do anything to discard the current holders, plus in this climate there is no reason to rush and pay top dollar for ORP since there is no other potential buyer or partner. A take over by ANTAM would not surprise me at all. All they have to do is approach a few top 20’s and get there shares and proceed with a take over. I think they have enough shares to do that should they want to. The co needs to introduce competitors to ANTAM, that’s when the share price will start to increase. At the moment it’s only Antam, its hardly a competition.
ORP Price at posting:
2.0¢ Sentiment: ST Buy Disclosure: Held
