Thanks for this post rbgould2008. (Thanks also to Corvy's reply) I am fairly certain this is going to be the case. It is far to cheap for this share to remain under double digit Cents.
2 other interesting things with regards to Gold,
1. Even during the last year of GFC, although most of the electronics manufacturers had reduced their output, and that the price of gold had not really dropped. But the Commercial/Industrial demand for gold remained SOLID. The volume had NOT dropped at all!
2. The retail demand from the growing Asian economies paused for a few months, but it is now recovering as the consumer confidence returns. As China and India grows more prosper. The retail demand for gold would only go ... well ... one way! I'll leave you to be the judge of that!
If Wahalla is half decent like what the folks at the Wahalla Goldmine tour (sponsored by Goldstar) had suggested, there is no reason why ORN wouldn't go above 20+cents soon!
What is more to the point is the MCO, north of ORN has been doing well even during the GFC, and they are already at 34cents. Moreover MYG north of MCO had found not much gold at all is now at 5.4Cents (ie. Same as ORN) Granted MYG have other interests elsewhere, but ORN's potential gold deposits definitely out performs MYG.
Cheers,
Trojann.
ORN Price at posting:
$2.12 Sentiment: Buy Disclosure: Held
