lol....I see what you did there....birdy, branch....... :-))))
The way I see it mate, this is now tucked way at the back of the bottom drawer, underneath the envelope that says 'do not open until my death'.......
This new venture could well be a good investment for a company with plenty of cash reserves or robust cash income.....ORE have neither....
Only way I can see this company heading forward with any purposeful momentum is by selling DJ for starters (who will...??), and then proving up (at the very latest, end of next season) a sizeable, open pit resource at Mutsk. That at least will give the company some tangible value......as it sits right now, it is all pie in the sky stuff.......
Considering Reynolds referred to Mutsk in his comments from the RNS, then we need to know now what the 3D Mutsk model is telling us. News on this has to follow very shortly, or I feel today's RNS could be seen as a desperate attempt by the BOD to supply shareholders with something, anything, just to keep us onboard. Today's RNS is the first piece of news this year, which is by no means even an adequate show.
Well it is a little egg, but its might also be a bit rotten! Its lacking information again and it potentially passed its sell by date! It was virtually impossible to Birdy to find a project with the ORE financial resources being when they are. So fair play, he did find something, even though he did not need to look too far. It almost sounds like he is covering his bases, bringing ORE in to explore an area that does not have the expertise of funds. IF great results are achieved then ORE will only get 49%, if mediocre results are achive then they will allow ORE to keep spending and off set the risk with and additional 25% earn in. I hope they follow this with news about Mutsk and the 3D model and a drilling program. $400,000 = £280,000 the could do both!!!!!
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