5. OPERATING AND FINANCIAL REVIEW A Review of Operations Ord is an exploration company operating in Australia and Laos. The Company creates value for shareholders, through exploration activities which develop and quantify resource assets. Once an asset has been developed and quantified within the framework of the JORC guidelines the Company may elect to move to production, to extract and refine ore which is then sold as a primary product.
Creates value for shareholders?? But the share price has collapsed by 80% in 2 years with capital raised out of investors in this period also.
Financial Performance The financial result for the year ended 30 June 2014 is a net loss after tax of $8,564,000, as per the table above. The Company is creating value for shareholders through its exploration expenditure and currently has no revenue generating operations. Revenue is generated from interest income for funds held on deposit. The funds held on deposit have decreased during the financial year which has resulted in revenue decreasing by 27% on the prior year.
" . . is creating value for shareholders . . " how?? or am is missing something??
This BS makes me sick so why read any more? Out our all the human behaviours that angers me the most - corporate dishonesty is number one.
VAN Price at posting:
0.2¢ Sentiment: None Disclosure: Held
