- Junior mining company with initial market cap of AU$10m
- Management team looking to replicate success of Felix Resources (FLX: ASX)
The Paddington Gold Assets
- Owned by Barrick Gold, the largest pure gold mining company in the world
- Forecast production of 190,000 ounces and over 1,200 km2 of land tenements near Kalgoorlie
ORB Role
- Acquired rights to purchase Paddington mine
- Sourced A$8m from principal investor (deposit and WC) and an additional A$6m in completion funding, including own capital
- Market Cap. increase from A$10m to A$150m in six months
Speed to Seed
- Initial meeting: March, 2007
- 4 weeks of pre funding analysis
- 2 weeks of due diligence
- Investor meeting: April, 2007
- Funding decision: immediate
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