Scud Scud..
Few Things…
Warrants: I completely agree with Domm. There is no reason for the insider to be furious at this time. The purpose of the warrants was to be converted to share at a strike price of 10cent… and then sold at a profit if the share price is north of 10cents… If they believe in the company that much then they can buy at 4cents and sell at a much higher profit margin, if the stock takes off. However, if they are furious, they should be furious at themselves for lack of performance of the share price.
JV termination: It’s actually been 4 months and 1 -1/2 weeks… Purely academic but you like to deal with complete facts…
Mark Billing Investing $80,000 at 6cents: I don’t see how this is a great accomplishment or dedication to the company. He is the CEO; $80,000investment is nothing for a CEO… I invested $50,000.00 at much higher price… and the fact that he’s telling you he doesn’t have any more liquidity to invest in Orex is Bull*@#t... Maybe he does maybe he doesn’t but he will certainly not be telling you about it…
Bulk Sampling: I agree that certain amount of modeling an paperwork is required to be able to commence bulk sample but not to apply for a bulk sample permit. And it does not take 5 weeks to set up a meeting with the NS government who according to Mark are very enthusiastic about this project… I deal with both provincial and local governments all the time for construction permits etc… and it does not take 5 weeks arrange meeting and complete applications… Do they have a mill selected yet? I don’t think they need a model tell them that they will need a mill.
From what I hear, the bulk sample idea/narrow high grade veins was submitted to the board of director in 2010 and was rejected by Mark… I do realize that at that time Osisko was in-charge but the company and the property still belonged to Orex, they should have pushed their proposal through to Osisko, the same proposal their following now.
End of 1st quarter: Thanks for the great advice but I personally don’t give a care if you sell or not… we had a mutual consensus that, even in a worst case scenario Orex should at least present something to the share holders in terms of Bulk Sample… I was curious to know what your intensions are, if Orex fails... To me it won’t make too much of a difference if I sell at 0.03 cents of 0.02 cents… my losses are great and couple of thousands won’t make too much of a difference… I’m not looking to play this in a 1 or 2 cent window… I’m typically a long term investor… I’ve been here long before you…
CEO Replacement: I personally think Mark Billings does not have the time or the drive to push Orex to the next level, if he did, he would have hired an in house Exploration and Engineering team who make this project their priority rather then consultant who make the project their last priority.
If Mark was serious about production by 2014 then this team is needed now… he is an idiot if he thinks he can take this project into production by 2014 on the backs of outside consultants… Yes this would be a hit to the current funds Orex has but this will probably shave the time in half…
I personally think Michael Dehn would make a lot better CEO the Mark, his a geologist, his got financing experience, he knows large investors, and his a driver… key point Argex…