RE: Uptarget gone3 Oct 2025 15:10
At 11p I’d pay to remove the ads on lse.
But I think 2p would be top once fully running, not sure what level we can expect recognised until it’s live next year.
• Exploration Target: 200–250Mt @ 0.4–0.6 g/t Au → midpoint ~3.6Moz.
• Recoveries: ~92.6% (RNS metallurgical tests) → ~3.35Moz recoverable.
• Margin: ~$1,050/oz (gold price $2,350 – AISC $1,300).
• Project profit potential: ~$3.5B.
• ORCP’s entitlement: 20% free-carried share after 50/50 split with Mega = $350M attributable.
Now, if the market actually recognised this at face value:
• 50% recognition = ~$175M (~£140M) → ~0.9p/share.
• 100% recognition = ~$350M (~£280M) → ~1.8p/share.