Orbite (TSXV:ORT.A) will Revolutionize the Aluminum Industry According to Midas Letter - Video Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, June 22, 2011 - In the latest Midas Letter Report,
James West stated that Exploration Orbite (TSXV:ORT.A) will revolutionize the
aluminum industry.
InvestmentPitch.com has produced a "video news alert", enhanced with additional
multimedia, summarizing this report. If this link is not enabled, please visit
www.investmentpitch.com and enter "Orbite" in the search box.
He states that Orbite's technology is a game-changer that is going to make
Orbite a household word on the NYSE or NASDAQ.
A rash statement about a company trading at $3.30? Perhaps not.
Taking a closer look at this Quebec-based company, we see it has developed a
unique process to produce alumina from claystone, a rock that has, during
previous metallurgical extractive attempts, resulted in lower quality alumina at
a higher expense.
On June 21(st), the company successfully produced a large scale aluminum metal
ingot from its metallurgical grade alumina. This large-scale laboratory test was
carried out at SINTEF, the leading independent international research
organization in Norway.
"The excellent quality and specifications of Orbite's alumina were confirmed by
our test and the resulting aluminum was of a quality second-to-none" said Egil
Skybakmoen, Senior advisor and research director for the electrolysis group of
the SINTEF - Material and Chemistry unit.
This followed previous aluminum samples processed from alumina at the company's
28,000 square foot "at scale" facility in the Gaspé.
Several hours later, Orbite announced a $50 million bought deal offering through
Mackie Research Capital. This offering was priced at $3.10 per unit, with each
unit containing one-half a warrant. Each whole will be exercisable into one
common share at $4.50 for up to 12 months from the closing of the offering.
Back in March, Mackie Research initially gave the company a speculative buy
recommendation and a 1 year target of $7.50, when the shares were trading at
$2.36.
In his report, analyst Matt Gowing stated at the time, "The market opportunity
of its new patented processing technology is profound as it may allow for low-
cost alumina production within a Quebec aluminum manufacturing industry that
imports $3 billion of higher-cost alumina. We believe that Orbite's technology
is the only one in the world that allows for extraction of alumina from the
argillite such as that found in the Gaspé region."
In a May 26th note to clients, analyst Marc Johnson of M-Partners stated,
"Orbite has succeeded over previous uneconomic Bayer-alternative processes by
eliminating several high-cost steps and improving recoveries through a novel
arrangement of off-the-shelf equipment. It does not generate wastes while also
recovering valuable by-products such as scandium and gallium."
M-Partners gave the company a 12 month target of $15.00.
Richard Boudreault, the company's CEO stated, "Most of the technical challenges
are behind us. There are no scale issues that are going to come up."
There appears to be no shortage of raw material as the company has issued a
43-101 report identifying more than 1 billion tonnes of aluminous clay on its
6,400 hectare property in the Gaspé region of Quebec.
The company has already taken the first step toward the NYSE, it recently
applied to move up to the Toronto Stock Exchange.
To view the full report, please visit www.midasletter.com.
For a more information on Orbite or a copy of the Mackie Research Report please
visit their website at www.explorationorbite.com or phone 514-591-3988.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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Source: InvestmentPitch via Thomson Reuters ONE
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Datum: 23.06.2011 - 00:47 Uhr
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News-ID 55794
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