Member Info for GingerHippo

StockMaiden, I'm still around. I've made my views known. No need for me to repeat them.

The continued assumption here that anyone optimistic is being genuine and anyone pessimistic is being duplicitous, is naïve and immature. If I'm proved correct that this is a P&D, would you then in hindsight say that the rampers were being duplicitous? I know you won't. You get much more thumbs up for saying that derampers are always wrong and the only reason the share price has gone down is because of "MM games"

Louisiana, I feel sad that you think so poorly of me and my intentions. Nothing I can do about that.

Of course I was frustrated at not buying in at 1.4 and getting 400%, that’s perfectly natural, I’m a human being. But that doesn’t mean I don’t think it’s a bad idea to buy now, or that the things I’ve said in my posts are not true. I’m certainly not trying to manipulate or push the price down so I can buy in. I won’t be buying in for all the reasons I’ve said.

My feeling is that after two years of private chat, you could have had a private word with me instead of the first I hear about it is the accusations you levelled at me here in public.

Nevertheless, I wish you the very best of luck with everything.

What you’re not getting is that todays situation is EXACTLY the same as we were in 6 years ago. Thar coal is huge. Worth billions. We were going to finance it, or get a JV, or sell out. 6 years later none of that has happened. Instead we have been diluted to nothing. It’s going to be exactly the same with this asset. The share price might go up tomorrow, it might be pumped more. But in the long term we already know what happens because it’s happened several times.

It’s literally the same story, the same posts, the same warnings, the same dismissal of “derampers” just with a different asset. The sabe accusations of self-interest from posters who are ramping to hell. That’s why the people around back then are saying what we’re saying. Ignore if you want

Bigbench, I'll say it again, but I'm not going to go on and on.

I first got into ORCP during the rise from 0.2 to the intra-day high of 1.6. Imagine the excitement doing 800% in such a short space of time. At the time people warned me that they were already sitting on 95% losses. But I ignored them because we were sitting on billions of pounds worth of coal that was bound to be approved any time and a JV would be signed. I also suspected them of deramping for their own self-interest.

Almost 6 years later and still nothing on the coal project, I am just pointing out that I lost 95% from my first buy in because she had no way to commercialise the projects so we had to do lots of placings to keep going. As I point this out, I too am accused of deramping for my own self-interest. I guess I deserve that for having been so accusatory of those that came before me. It's all on this board if you go back a few years. Embarrassing stuff really.

Loisiana, I am disappointed by your post. You have taken what I wrote on X out of context. As you know, I said there from the start of this rise that I thought it was a P&D. What I wrote about FOMO was a natural feeling but I never had any intention of buying back and still don't. What I actually said on X which you cut off was in response to someone one suggesting I still had time to buy back in was "what if I buy at 0.06 and in a month we're back at 0.02, how sick would i feel that I bought even though I knew it was a bad idea".

So, as you know I thought this rise was a P&D from the start but didn't say anything on here until it got to a point where it seemed beyond insane to me. I started pointing out what I have been at around 0.06 and the sp has plummeted since then so it seems I was right, but we'll see what happens today.

You have misconstrued my intentions here, as investors so often do, as I myself did with Legalwolf. He warned me from 1p but I ignored him as it went down 95%. I am giving the same warning, not because I want to push the sp down (I don't have that power anyway) and not because I want to buy back in (I would only buy back in if there was news on Thar or GH), but because I have valuable experience here which could be of benefit to newbies being sucked in by unrealistic ramps. I feel like a survivor of a tragedy who wants to share their experience so others don't make the same mistakes.

I am disappointed that after you've known me this long you think of me in that light. Read my posts, do I go round LSE deramping everything? No, I don't. I almost always a LTH sharing research. These posts are highly unusual for me, so make of that what you will. Again, people can read what I write and decide for themselves, but they can't later say that I knew it was a P&D and said nothing.

It’s interesting that the LTHs are sceptical while newbies are whipping themselves into a frenzy

Tiger, I'm not going to do this all day. I've made the point and you may ignore it if you wish.

I will point out though that lots of people have said "this is the next Greatland". There were specific reasons Newcrest went in early then which was highly unusual. But for every Greatland there are a thousand gold projects that never got anywhere. I think you are making a lot of dangerous assumptions here.

You can also read my posts that I was writing on this very board starting from 2019 at well over 1p. They sound exactly the same as what I've been reading here this week. So I'm talking from experience and 5 years of closely following this company. I was in this share when she used the placing at 1.1p to fund NZ initially.

"they just need the report"

Tiger, it sounds like you think just one report, presumably the MRE and that's it, get digging?

They will need more drilling to prove up what's there, a preliminary economic assessment, pre-feasibility study, definitive feasibility study etc etc. There is a long process. It takes years. JVs don't happen overnight. At this stage nobody knows how much gold is there or how much it will cost to mine it, so no sensible JV partner could consider funding it until they have a lot more information, information that ORCP and Riversgold will have to pay for themselves. I think you need to do more research into gold projects in general.

I do genuinely feel bad for anyone that's been caught out by this P&D. It's so easy to get sucked in and very hard to see the truth once you're in. People throw around figures like £2Bn and on some level you know it can't be right, but there's always a tiny part that has FOMO, even if they're only 10% right I could still make a fortune, and I'll kick myself if I don't. I've been there so I sympathise.

I also completely understand the urge to dismiss posts such as this one as derampers trying to bring the price down for a better entry, or just plain mean-spirited. Once you're in, it's natural to argue against anyone who thinks you made a bad decisison. Truth is, the people urging caution probably have your interests in mind much more than the rampers. A little bit of scepticism actually helps to make better investment decisions.

The fact the Riversgold share price hasn't moved is a dead givaway that this news isn't worthy of a 400% rise. The idea that stocks don't move in Australia is obviously not true. Do some research about what is involved in getting this project from where it is today to the point where where a proper JV partner would even consider coming in. Research how long it takes, how much it costs and the chances of it turning out to be economically viable and put your scepticism hat on. What's more likely, that Australian shares never move even on news showing a value of £8Bn, or that a penny stock on AIM has been used as a P&D?

"Estimated gold was between 2.5-4.8moz"

Please note that this is the exploration target, not a resource estimate. They haven't done an MRE yet.

Second, when calculating the value of the project you need to account for the cost of mining. You can't just take the resource and multiply it by the gold price. You also need to discount it down to present value because you need to spend a lot on the mine before you can extract gradually over decades (i can't believe i'm saying this at such an early stage).

Third, there are so many stages that need to completed before any financing decision, all of them cost money and ORCP will need to pay 20% of it, unless they give up practically all its interest in the project (like when Naheed gave up 80% to Riversgold for less that she had spent on it).

Fourth, at this very early stage we don't know if the project is economically viable at all. The grades are not that high so the cost to extract will be high. They would probably need to prove up at least 1moz before they could justify the cost. That will take many many months if not years.

I'm not saying there's no potential here. I am saying be realistic about what the project is as of now, and realise that ORCP will have to do a lot of fundraising over the next year or two to move the project along, and there's a risk that after all that the project is deemed uneconomic. Please come back down to earth.

@86Kb, maybe the LTHs have some insight that you don’t have based on many years experience here

Agreed, Art. They have no way of commercialising NZ without years of further drills, every one requiring more and more dilution. I’m amazed how far this has gone. But nobody knows what’s going to the share price in the short term.

You and I have been here long enough to remember the placing at around 1.1p to raise the initial capital for the Australian projects. She went on to sorbs well over a million of it before selling 80% for £500K iirc, making a capital loss on the asset she just bought.

All of that was supposed to be a side show for the main project, Thar, which 5 years later has still gone nowhere.

Mannan, please do read what i was writing on this very board a few years ago and compare it to what is being written today. I also accused people who disagreed with me of deramping. Then judge the results of my investment here for yourself. I am writing from some experience here and know more about this company than practically anyone on here. Do with this what you will.

That's not to say I know what's going to happen to the share price tomorrow. I don't.

Yes ART, that is the main factor that will affect shareholders, as I know to my cost.

I was in since before 2020 also based on Thar. I stayed in for the GH project. I left because Naheed sold 80% of NZ for a peanuts. In fact she sold it at a loss. The fact that Riversgold owns 80% of NZ and their share price hasn't moved is very telling.

People don't seem to realise how long or how much money it would take to get from where NZ is now to an operating gold mine. It's 5 years away even if everything goes smoothly.

Take ORR. It got a JV on 2 gold projects, similar to what NZ is. The JV partner is funding $8M of drilling in exchange for 50% of the projects. If ORCP can get someone to pay $8M for 50% of NZ (leaving ORCP with 10%) that would be pretty good. There is potential here but you've got to be realistic.

This is how I’m reading it.

“Cash is tight right now. If EGPC pay what they owe us we’re fine, but we’re worried they might not pay quickly enough. We really don’t want to do a placing because we’re going to get decent cash in when we complete a farmout, so we’re going to stop spending on anything not related to the farmout so hopefully we won’t have to do a placing.”

Market has read that as we’re doing a placing which is annoying. My feeling is that Brian has been too honest here. Most AIM companies keep quiet until a placing is already happening. That’s not what’s happening here but yet again United gets no benefit of the doubt.

Looking at the share price you’d think he just said we’d do a placing. In fact he said the opposite.

Very good results today. Not that the share price cares

I can attest that that was indeed a buy.

JP, the technical teaser says the piston core stage should cost up to $3M. However, this is being farmout out so this will be covered. We will have this cost covered PLUS $5.5M in the bank. Updates to come shortly.

From the paper:

2024-2026: ~up to a $3 MM final work program including a seabed piston core survey designed to prove the existence of migrated hydrocarbons

A successful work program will decrease risk; as an example, the chance of success for just one prospect could go from 1 in 5 to 1 in 3

United offering a material interest in License in return for funding work program and contribution to United’s own back costs ($5.5 MM)