RE: bid...Disagree completely Orgprophet. You are avoiding my question for any other profitable gold producer selling below its net asset value - because there is none.
Sure these days there other companies trading at or below their cash position. But these are either high-cost producers, losing money with every gram they put out. Or they are explorers who have nothing but their cash and are going to need all of it and then some just to keep the lights on.
Okay so ORV has a reserve problem. So let's say they would just continue to mine what reserves are currently left, sell this gold, make no further investments, then pack it in, pay all debt, sell their production structure and whatever material assets they have and distribute the cash position among shareholders. You know they can run at least like two more years on the current production volume. Assuming that gold prices and ORV's cash costs stay at current levels, at the time of such payout in late 2010 or so every share would be backed by a net asset position of around 1.00 $. That is no rocket science to calculate and there is no reason whatsoever for the stock to trade at 0.60$ (and falling) when the market would trust this company. Again, all this is leaving any exploration upside to the share price completely aside and just assuming they would run this on a burning-the-bridges type of model.
In the meantime, to the best of my knowledge there is no reason at all why the company should not declare a dividend. I don't think it can be as high as some poster here suggested today, but lets say 1c per quarter would hurt nothing and at the same time greatly set ORV apart from the vast number of struggling, unprofitable junior producers.
But even if KKRR is right and the company needs every cent of their cash position for acquisitions and exploration (unfortunately he has failed to back his point by any facts or company info), then I have not the slightest appreciation for leaving shareholders without any official information for more than three month now. I don't think you can show me any other gold producer that has not put out any substantial NR for like three month.
Will posting here change the course of the company? Probably not, but that is not the concept of Stockhouse anyway (although I could point you to the case of a certain explorer where things very recently got seriously changed after a Stockhouse shareholder revolt) . It is a known fact that junior company IR's are following boards like Stockhouse or Yahoo. Thus I don't think it can hurt to speak one's mind here in a rational way. Plus I don't believe in the concept of shutting up and doing the happy dance just because somebody's afraid to hurt the SP. This stock has great assets. What it needs is no propaganda but management finally getting down to earth.