Gee whiz I like today's presentation outlining the project pipeline and stressing the value proposition. Even I got a little excited when I saw the bold capital letters and red ink throughout.
I think that Anthony Gray thinks that ORS is cheap blaming equity market conditions and the gold price for a poor performing share price.
He's very clear that the enterprise value at $6.9M is quite ridiculous considering Maldon Gold Processing Plant $15M + Union Hill Decline $20M + Underground mining fleet $1M + Resources to be mined $$$. If ORS doesn't mine it then they'll JV with somebody who can.
One thing that concerns me is that they promote the fact that they have $2.2M as at 30.06.2013. But we're now in October so we can assume there's less cash in the kitty given that we now have a loan facility available.
ORS Price at posting:
7.1¢ Sentiment: Hold Disclosure: Held
