Member Info for ART123

Yeah, this has been a very welcome rise especially when considering that Riversgold, who hold 80% of the prospect in question, hasn't even seen as much as a 10% rise in their share price over the last week. Very welcome indeed, giving many a chance to make some pre-Xmas profits and others, like myself, the opportunity to offload a share that has done nothing to impress for the last 4 years. I was over 95% down but buying more for this rise has allowed me to get all of my money back. YEEHAW!!!

Making a comparison between 2 companies when one had a farm-in worth AUD90Million and the other a farm-in worth AUD600K is not very sensible. This is not another GGP.

This is hardly comparable with GGP. Details of ORCP's farm-out dated 9th May 2023 are as follows:

Key Terms:

· Riversgold to farm-in to the Northern Zone Project with the right to earn up to 80% beneficial interest via:

o Immediate cash consideration of A$50,000 payable to Oracle

o Exploration Expenditure (examples of which are set out in the HOA) of not less than A$600,000 within the next two years.

· Riversgold has the option to withdraw if it has incurred A$200,000 of Exploration Expenditure in the first year.

· Thereafter Oracle to retain 20% interest, which would be funded at its sole discretion under a joint venture agreement that would be put in place.

The figures are in AUD and the cash consideration was just over £25,000 and the drilling commitment was for just over £300K.

The GGP farm-out to Newcrest was for US$65m (roughly £50m or AUD$90m) with the right to acquire up to a 70% interest in 12 blocks within E45/4701 that cover the Havieron target by spending up to US$65m (roughly £50m or AUD$90m) and completing a series of exploration and development milestones in a four-stage Farm-in over six years.

Funnily enough, I have just checked back through the posts on Tuesday 26th November when this first kicked off and Gordonbennet1 and Earlof Aim were the 2 most prominent posters recommending this when the share price was still 0.013p. Don't bite the hand that feeds you comes to mind.

Also newbies here are posting that ORCP are going to do a lucrative JV. Unfortunately the deal with Riversgold - where ORCP gave away 80% of Northern Zone for £500K's worth of drilling - was the JV. And further unfortunatley Riversgold have an even lower m/cap than ORCP so there is not a lot coming from them.

More likely to get a discounted placing here than a takeover bid I'm afraid. It's now just a case of how soon Naheed Memon can get one done as the last one for £150,000 at 0.013p won't last long and this is an opportunity with the share price several times higher than that.

As I posted last night, this share has had a good run over the last week considering what has been going on here for the last year or two—and I should know as I have been holding here for four years during which time the share price has barely risen even for one day while falling consistently.

Unfortunately the mineralisation report was nothing new and not even bordering on the exciting and cash is badly required here for progress.

ATB - and you may need it knowing this lot!!

It doesn't help that the JV partners - Riversgold - have an even smaller m/cap than ORCP despite owning 80% of the prospect. Unfortunately the ASX market doesn't appear to attribute much in the way of value to this prospect.

Newbies should be warned that they will need some cash soon as they have to pay for their 20% of the drill costs of Northern Zone and they have also recently taken on another project in Australia which will need funds for drilling. Money has been very tight for a while now with the regular placings getting smaller and smaller but the dilution bigger and bigger.

ATB

Well the 'mineralisation report' (if that is what they want to call it) has certainly livened up a very dead share price for a few days. I'm not sure where this will go from here though. I probably won't worry too much as I've managed to offload the holding I first bought in November 2020 - 4 years ago - despite being over 15 times adrift which is a result I didn't see coming. Yea-haw!!!!!!

And the prospect is not 'high grade' either, despite what some people are posting. For a while now this has been compared to Saturn Metals Limited Apollo Hill Gold Project which has a 'resource estimate of 105Mt at 0.54g/t gold'. This is much the same and 0.54g/t gold is not sensational - in fact it is marginally commercial which incidentally I was under the impression that the mineralisation report was going to give an assessment of the commercial viability of the resource size and grade though I cannot seem to see it anywhere.

But then I have been stuck (under water) here for a few years. No doubt the 'newbies; will find it 'brilliant' and 'sensational', etc, etc.

I'm not sure what people are expecting but the 'mineralisation report' doesn't seem to say anything that we didn't know already. In fact it doesn't really say anything - no targets, no conclusions, nothing new. Very strange.

A:- A mineralization report is a document that details the results of an exploration for a mineral resource and analyzes whether it's economically viable to mine. It's required when applying for a mineral resource that isn't already being mined. A Competent Person, as defined by the relevant act and regulations, must prepare the report.

The report must include:

Exploration results

An analysis of whether the results indicate a reasonable prospect of economic viability.

The purpose of a mineralization report is to ensure that investors and their advisers have all the information they need to make a balanced judgment about the mineralization. The report should not imply that potentially economic mineralization has been discovered.

So we have to assume that Riversgold and ORCP have continued with the Northern Zone gold prospect as they believe that they have an economically viable asset so the report should be positive, especially as they have already said that they will use this report to apply for a mining licence..

There is very little value attributable to the m/cap of ORCP at the moment, so it is equally safe to assume that an economically viable gold asset, especially one that has for a long time been touted as having a resource of between 2.5Moz and 4.8Moz of gold, will have a positive effect on the share price.

Personally, I will hold for the imminent report.

Let's hope this stays rising until the Mineralisation Report is released which is due by the end of November - " A mineralisation report is expected at the end of November, with a Mining Lease application to be submitted thereafter."

The big news is still to come - a mineral resource estimate that should be several - ie 2.5 to 4.8 - million ounces of gold. This is due by the end of November.

I was on a flight all morning and missed this initially but have just bought another 16 million to bring my average down. I just need a double up from here to get.my original stake back and that should be easily done with the resource estimate imminent. I was also massively down on PPP before that came good.

ATB

The imminent Maiden Mineral Resource Estimate is going to be for several million ounces of gold, that's for sure. The market will have to rake this seriously, which will mean a massive rerate.

I sense another PPP!!!

If this does the same as PPP a few months ago then I will have my money back. Don't forget Lenigas it involved in this as Chairman of Riversgold. He probably owns some ORCP shares as well. Resource estimate due by the end of the month.

ATB

This is all about drilling costs and not 'getting the tin out of the ground and processed' - that is a long way off yet. With 5 or 6 drills on the go and in a very remote area where everything has to be flown in by chopper the costs are obviously quite high. The mention of 'strategic investors' sounds like more cash is required.