Orbite Technologies Inc EORBF

Metals & Mining Aluminum Industrial Metals & Minerals

Orbite Technologies Inc is a Canada-based mineral-processing and resource development company. The firm is organised into the following segments; Specialty Products, Waste Monetization and Commodity Minerals. It produces alumina, silica, hematite, magnesium oxide, titanium oxide, smelter-grade alumina, rare earth oxides and rare metal oxides. The operation plant is based in Canada.

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Orbite Technologies Inc

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Post by Antoninasson Jun 21, 2016 5:28pm

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Post# 24985143

How Many of You Believe......

Last June, 2015, Orbite was assuring us that we would be in production way before January 2016. Last fall we were told that production was imminent and we have more than enough money to complete the plant and go into production. Then the hammer came down.

A surprise 12 MILLION DLLAR PLACEMENT which Orbite claimed was to complete the front end which eventually brought down a .53 share price to the mid .20's. Again, shareholders believing the claim of imminent start who bought in at the 50's and 40's were left holding the bag.

Then we were told a contractor was holding back important equipment which would cause further delay. then we were told the engineers made a big mistake with the piping and there is a major surprise cost over run.

So aside from the 12 MILLION DOLLAR SURPRISE PLACEMENT We require another 10 MILLION DOLLARS to finish the plant and who knows how much more when and if production ever begins. So, we will be lucky if the imminent start of production that was supposed to have taken placein quarter 4 of 2015 takes place before quarter 1 of 2017.

HOW MANY OF YOU BELIEVE COMMERCIAL PRODUCTION WILL START BEFORE JANUARY 1, 2017?