I have found that there is no guarantee when stock investing (not trading). It is always prudent to pick management that is working in every holders interest and ORS management has demonstrated it time and time again. You just have to check out the number of shares on issue to reflect management track record on using limited funds responsibly after all until they start producing cash flow, all juniors are money sucking machines!
Secondly, these folks right at the start did not reward themselves with countless free stock options. Why would Ian Gandel try to wring every bit of advantage for himself unless he is looking at the bigger picture, he has billions!
Thirdly, management tried every strategy to put off cap raising being the last resort, would have wished the price was higher when this last resort was used. Delays to mining approvals are something management cannot rush through and have to wait just like every other mining enterprise to go through the bureaucratic process and this is frustrating for us LT holders.
Going forward the puzzles are in place to graduate into mining status soon. Now is the time to let management show their skills to come up with a credible plan going forward with the various options they have, ie UG then open pit or both same time etc... They had a certain bit of luck with the discovery of that 1100 and offshoot high grade vein, and I hope this is just the start of an extended life of mine moving forward. Open pit I reckon will be better exploited when we have a much more stable POG that is sustainable as a trend going forward.
When the mining is establish there is Burns prospect as a bonus for diversifying but obviously this is the blue sky/dream phase so I don't put much into that for now.
Been a long wait but seeing the fruits of that patience. Bid/ask levels are also very much improved in addition to the volume of transactions on the daily basis. More relax now to let it all play out.
ORS Price at posting:
6.5¢ Sentiment: Buy Disclosure: Held
