ORN - Orion Minerals

[Joe Blow]

Orion Gold (ORN) was previously known as Goldstar Resources (GDR).

For previous discussion of this company please see the GDR thread, which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=4594

 

[Miner]

Orion Gold (ORN) was previously known as Goldstar Resources (GDR).

For previous discussion of this company please see the GDR thread, which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=4594

Good proactive work Joe at last .
This was the real message - short and sweet (IMO). Now I have to fiddle with words with my poor English, grammar and syntax to fill in the quota of 100 characters

 

[Anmar]

16th July

Orion Gold advised that it has identified robust nickel-copper targets within its Peninsula project, located in the Fraser Range Province of WA, based on preliminary results from a recently completed HeliTEM airborne survey. The target anomalies support previously identified targets within the Peninsula mafic intrusive. The company is mobilising a survey crew to the project and anticipates receiving survey results by the end of July 2013.

19th July - ASX closed with ORN jumping to $0.120, a 200% increase

 

[System]

On May 23rd, 2017, Orion Gold NL changed its name to Orion Minerals NL.

 

[greggles]

Independence Group NL has taken a $5 million stake in Orion Minerals through a placement of 100,000,000 shares at 5c a share.

As part of the agreement IGO has secured matching rights to any potential joint venture or sale of Orion's nickel projects located in the Areachap Belt, South Africa. If Orion wishes to assign the whole or any part of its right, title or interest in any of its South African Nickel Projects (located within a defined area of the Areachap Belt) to a third party, it must first offer to assign such interest to IGO on the same terms and conditions as the proposed terms and conditions of the assignment to the third party.

Yesterday Orion Minerals closed at 3.7c, so this looks to be a very good deal for the company as it values ORN at a much higher price than the market and is a big vote of confidence in the potential of its current projects.

As expected, Orion shot up today and is currently trading at 4.7c. I'm posting a five year chart to illustrate the historical performance of the company and the importance of the 5c level, which appears to be an area of resistance and which the company hasn't traded above since September 2014.

So Orion Minerals is looking like a potential breakout to me. It may have a big job soaking up all the sellers at around 5c but if it gets past there we may see some solid short term gains.