Michael Smedley
Orezone Gold Corp
ORE-X
BUY
Jun 10, 2009
Gold in Burkina Faso. Good management. His probabilities of success are very good based on management's previous success in selling a gold mine. Have started drilling. Speculative.
This is going to be tricky. They pulled their bankable feasibility study. High quality people. He is working on studying the deposit right now, but officially he is neutral on this.
In Western Africa, this miner is looking for funding. It is not the exciting part of the cycle as they are in the de-risking mode. Investors are looking for projects that double resources. Institutional investors are not yet stepping in the space.
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