Orogen Gold (LON:ORE) has made significant progress this year, says house broker WH Ireland, repeating its 'speculative buy' stance. This comes through advancing understanding of near surface high-grade gold at Deli Jovan in Serbia and also confirming gold mineralisation at the Mutsk project in Armenia - two projects where it now has a clear strategy to establish a resource. "It now has two prospective projects in Europe in the Tethyan Metallogenic belt, which is seeing a resurgence in exploration and development activity across Eastern Europe and into Asia," added analyst Paul Smith. The analyst notes Orogen is at such an early-stage, it is difficult to place a value on it using traditional valuation techniques. "Investors, however, buy the shares on potential. We estimate that, given an exploration success similar to Lydian International (TSE:LYD) in Armenia of 2.4Moz, the share price for Orogen on an unrisked basis, and assuming no equity dilution, would have a value of 1.5 - 2.0p; a significant uplift on the current share price," he said. Shares are trading at 0.31p.
so 2000% at the top end,
In a nutshell I do hope this company can push some serious comms out and get their ducks in a row
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