Norra Metals Corp V.NORA.H

HERB ALERT/ ABOUT THOSE EXPENSES

[herbacious]

Lets talk about the truth, if anybody on this board wishes to confirm my research, please call Orex for confirmation.
The financial statements for july 31, 2009 show that over nine months ,Orko had office costs of $6.3 million of which at least $1.7 million was directly related to completing the jv with Pan American.

There was other costs as well, as Orko had to spend money to get the word out about the deal, and moving to the next stage.

Another $2.6 million of the expenses was for options that were re-priced for management and consultants after the market tanked last year.
Repricing a stock option does not use up any cash so it was a great way to compensate the above.

So taking out the jv costs and options they were left with $ 2 million.

spent over three quarters or about $650 k per quarter.


Now lets compare that ot OREX, which reported about $200 k in office expenses for their last quarter, thats only a third of Orko's costs , but think carefully, Orko just finished doing a major deal with Pan American and in doing so they must have incurred major costs both before  and after signing, i know for a fact they spent a lot of time and money going out to educate investors. Meanwhile ,Orex spent most of their last quarter waiting for results to come in from their drill program on Santa Cruz, so of course they had less office activity.

I expect that Orex's office and promotional costs will begin to ramp up now that they are getting busy with the new CONETO PROPERTY

do your own due diligence

herb