Colin Bird has taken on even more work this morning. See Xtract. Probably not out of choice or any disrespect to ORE shareholders you understand. More a case of needs must. Less time for the racecourse and his Serbian brood mare too, poor old chap.
I think the main problem with ORE is that we don't know what is going on most of the time, because we aren't told. Leads me to believe the BOD members do close to bugger all and are just in hiding. Why else not provide regular, and more importantly, meaningful updates?
Orogen Gold (“Orogen”) signed an initial Memorandum of Understanding with Georaid CJSC (“Georaid”), an Armenian registered company, covering the Mutsk gold project in southern Armenia in January 2013. This was superceded by a Joint Venture Agreement (“JV Agreement”) signed in February 2014.
The JV Agreement signed with Georaid covers the following main points:
Orogen has the right to earn an 80% interest in the Mutsk project by spending US$2.5m on exploration by 31st August 2016. If Orogen continues with the exploration programme beyond 31st December 2014, then it will issue Ordinary Shares in Orogen to the Georaid principals to the value of US$100,000. Once Orogen vests its 80% interest then both parties shall contribute pro-rata to further costs or dilute their interest. If Georaid’s interest falls to 5%, then Orogen will carry Georaid’s costs through to mine production, if/when this is achieved. Orogen will recover the costs of this carried interest from Georaid’s share of production from a mining operation.
If a positive Bankable Feasibility Study is obtained on the project, then Orogen will issue further Ordinary Shares in the Company to the Georaid principals to a value of US$300,000
It would be good to know where members were from ie a UK or USA in brackets at the end of the user name, only saying this as humour can be different in different countries, i have absolutely no idea where Eric is from as he posts in the middle of the night sometimes and then mid day the next, as for Jibber i take it he is from Australia or something. i think either Eric is from the middle east or is just an insomniac? M:
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.