Looks to me like they saw the opportunity but they are undercapitalised. The way to make something out of a small kitty is to drill some more holes in some new places and generate a bit of punter excitement. If they try to put plant in just now it may not work as the ore half proven up now is rich but very difficult to selectively reef mine. Narrow and at very steep angle. To bulk mine will need a lot of capital. Many tens of millions. Dilution city at best. GDR management were never upfront about this. They knew, but would not say. I should have seen through them but they seemed so breathlessly earnest. Now I know. Sometimes I wonder if they were failed real estate agents. The new mob? They smell until proven otherwise, as far as I am concerned. So far, Im not taking the peg off the nose.
ORN Price at posting:
$1.12 Sentiment: None Disclosure: Held
