GREY:EORBF - Post by User
Post by
Antoninasson May 20, 2016 12:51pm
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Post# 24892847
Orbite Forum's "chepanet" Exposes Ort's Imminent Start Claim
Orbite Forum's "chepanet" Exposes Ort's Imminent Start Claim to:
mlakmaaker@national.ca cc:
gkelly@orbitealuminae.com date: Fri, May 20, 2016 at 11:33 AM
subject: Orbite Press Release May 19th
Hello Mark,
While yesterday's announcement of the $5-million Ressource Quebec financing was good news, I was really surprised by one line in the press release (see underlined section in extract below).
"We anticpate closing the $5 million convertible debenture in the coming weeks,
after which we will award the contracts for the remainder of the construction and implement our plan towards start-up and commencement of commercial production. We are very grateful for the continued support from Ressources Qubec, who has proven to be a stable and supportive partner."
Given Mr. Kelly's numerous declarations that plant completion was ''imminent'' in the past, shareholders are entitled to more information on which specific contracts are yet to be awarded and what work specifically needs to be completed as this information appears to change with every news release. Personally, I had been led to believe that all contracts had been awarded at this point for remaining work on the plant, as did many longstanding shareholders.
Could Orbite management release a detailed list of outstanding steps to commercial production and a specific timeline for these measures to be implemented?