Member Info for GingerHippo

I agree with you, GoBig, but unfortunately it's a sideshow that has cost shareholders dearly due to several rounds of dilution to raise the well over a million that was pumped into an essentially worthless project.

Unfortunately StockMaiden, the facts do not support your position. I and others have explained things to you very clearly but you guys keep responding with insults and unfounded accusations even as the share price continues for fall 🤷‍♂️

Takeachance, that's a good question. definitely thinking along the right lines.

It's really hard to say. My guess is that £2.5M would pay for more drilling and possibly get the project to the end pre-feasibility stage. That's a good start, but falls short of the DFS stage which is crucial.

However, Oracle won't be able to spend all £500K on NZ as they have other projects and overheads.

Dream, as I keep saying, please do more research on gold projects. The idea that "gold is gold" is only true if we were talking about gold bars, which we are not. We're talking about gold ore, and not all projects are created equal. Grades matter. 0.4-0.6g/t is lower than what is generally considered commercially viable.

You're correct that it means money in the bank, so no more placing for a while (although it's not nearly enough money to get to commercialisation). Meanwhile, the warrants dilute the shares by around 20%.

But that's not the really the point.

No mate, you've got it backwards. The price needed to be above .32p so warrants could be exercised. Once done, the sp will plummet (and has). I told you from the start that this was a classic P&D.

Heimlich, I tried to explain it as clearly as I could, but people kept on insulting me, accusing me of just wanting to get in cheaper, and then filtering me. I have expensive experience in this area and I was willing to give that experience to others for free, but no takers.

I still feel sorry for anyone caught up in any P&D. They're hard enough to avoid even when you've got experience. FOMO is a powerful emotion.

For anyone still unclear why the sp dropped on this, it's because the RNS reiterated what some of us already knew, that there would have to be a lot more drilling done to progress this asset and all that drilling will cost ORCP money.

By the way, if anyone doesn't believe what I've been saying about the grades, it really doesn't take much effort to compare the grades at NZ with other gold assets at similar stages, or to industry norms. If all the effort that went into insulting people here went into research the board would actually be useful.

Heimlichill, “beat people like me with a stick” is exactly right.

It is definitely bizarre to RNS money received and have the share price go down.

Simon, I really think we on LSE need to stop the finger-pointing and accusations of ill-will, deception, bad intentions, bitterness etc. It keeps happening and it always derails the conversation away from useful discussion. On another board, nobody will engage with any logical statement i make because i've been accused of trying to get in cheaper, so anything i say is instantly dismissed. Can we please stick to analysis of the company itself.

Panda, if only you'd waited half an hour before posting that...

OMG I can't even. Seriously. This is beyond a joke now.

Yes it does

This means Oracle gets to decide how to pay for its 20% (cash or diluting their interest in NZ). It does NOT mean Oracle gets a free carry.

St Martins, Riversgold only have to fund $600K to trigger the JV. After that, ORCP will have to pay for its 20% stake, or give up part of its stake in the project. It is not a free carry.

This right here is the problem with lse. All the time I was posting positively about the company I got really nice feedback. Never mind that the share price dropped 95%. But if I dare say something negative, I’m, well, words that lse asterisk out.

Therefore the boards encourage rampy comments, and discourages scepticism, creating an echo chamber. This is a problem. Investing requires consideration of both sides.

I bought into Thar coal, not NZ. And clearly that was a mistake too.

Believe me, I have no interest in buying back in lower for NZ. If something happens with Thar that would be a different story.

Don’t think I didn’t notice you sidestep the logic of my post and instead turn to accusations of my intentions.

I’ll prove that most contributors here are dodgy rampers. If you believe NZ will be worth billions, you’d be buying shares in Riversgold which owns 80% and has a smaller market cap, not ORCP which has only 20% and a larger market cap (currently).

I believe people here are reacting to the share price movement, not the fundamentals.

Because it’s not on the verge of delivery.

From what I’ve read, most of the contributors seem to know very little about the gold mining industry, eg not knowing the difference between an exploration target and a proven up resource, and not understanding at what grades gold mining becomes commercially viable. DYOR.

Tiger, the share price is 40% down from Monday's high of 0.06, so your conclusion is premature at best. Let's see where the share price is at the end of this week.