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Mega aren’t throwing their money away.

Firstly they haven’t spent a thing yet. It’s an agreement that they will pay for production costs if it turns out to be worthwhile. If the economic and feasibility studies aren’t great, mega will walk away.

Under the agreement, mega have all their costs paid first. Only once that’s covered does any profit go to the JV to get split up, with ORCP getting 10%. If the grades are low (and the RNS says they are) it will cost too much to extract the gold. Meaning that mega have all their costs covered and make money. Whether there’s any profit left over for ORCP won’t matter all that much to them cuz they’ll have made money anyway.

Professor, you speak English. So you know what words like “target” and “aiming” mean.

You know it doesn’t mean that there’s a proven resource.

This shouldn’t need to be said so many times.

Yes they got some decent isolated intersections, but unfortunately that’s not representative of the overall deposit. Every gold project has “headline” hits like that, but what matters for economics is the average grade across bulk tonnage, not a few high-grade veins.

That’s like saying West Ham are a great team, look at the highlight real of all their goals. Great, they scored some goals, but it’s overall performance that counts.

The company’s own RNS says the overall grade range is around 0.4–0.6 g/t, and that’s what drives the mining economics. The odd 10m at 8g/t doesn’t change much if most of the surrounding material is 0.3–0.4 g/t.

Says the idiot who started ramping this when the share price was over 1p. It’s down 96% since then and at no point has he thought hhhmmm…. maybe I got this one wrong. Nope. At every stage he’s said it’s about to multibag. That’s the kind of pig-headed dodgy ramper people need to avoid.

Steve, per the RNS the overall grades achieved so far is 0.4-0.6g/t. That’s not commercial.

And even that is just a target, not a proven resource.

I know I’ll be shouted down for pointing this out. But I know that you all know I’m right. Unless this is your first ever mining stock.

I’m sorry Steve but that’s craziness. Even for an open pit, they still need to complete the resource drilling, JORC, mining lease, environmental approvals and the ore purchase deal. Each step can take months, sometimes over a year in WA.

I mean for goodness sake, all they have now is a target. You all speak English so I know you all know what a target is.

Some people here seem to think NZ will be mining gold by 2026, but there’s no way, and even someone with basic knowledge of the mining sector knows that.

They still need a full JORC resource, scoping study, economic study, mining lease, environmental and heritage approvals, a DFS, and an ore purchase deal, none of which are in place yet. Each step can take months or years in WA.

The RNS saying “breaking ground” probably means site prep or sampling, not commercial mining. Realistically you’re looking at 2028 before any proper production, if it ever gets that far.

Given where the project is now, the odds of NZ becoming a real, profitable mine are statistically something like 10–15% at best. It’s really early days in mining and there are a lot of hurdles still to clear.

That is why the share price isn’t where you think it should be. It’s not manipulation. You guys just have totally unrealistic expectations.

Ah, yes, Optic, the share price ticked up. That must prove the gold is economically viable….. Smh

Ah, yes, classic ramper’s investment analysis. Well done you.

Professor, you are correct that orcp will not have to pay any more for NZ. They will get 10% of any net profit from the JV.

However, there are so many stages between where NZ is and where it can make money, all of which would have to go well in order for the JV to make any money. 10% of nothing is nothing. All there is now is a target (not a resource) of a very large but very low grade gold. You're months away from even a preliminary economic assessment and years away from an DFS, without which you have no idea what's really in the ground or whether it's economically viable to extract it.

Meantime, just because you don't need money for NZ doesn't mean you don't need money for other things. Therefore, further rounds of placing are a certainty.

Zshaw, if that post was directed at me, I assure you I'm still here, reading some of the nonsense being posted. It's fascinating to watch.

I've laid things out as clearly as I can, if people still want to invest here without doing proper research, that's up to them. But since you seem to want some negative posts, here goes.

The chances of this ever getting into production is higher than it once was, but still slim. If it does go into production it won't give orcp anything like what people are suggesting. The grades are just too poor to be a particularly profitable mine. The chance of several more rounds of dilution before any revenue is practically 100%

I expect the share price to continue its general downward trajectory, with occasional spikes like today to keep the uninformed positive.

Tom, just because ORCP don’t have funding requirement for NZ any more, doesn’t mean they don’t have any funding requirements. More dilution is a certainty, probably in Q1 next year.

Maybe I am a troll. What difference would it make? I’m the only one posting logically. You don’t have logic on your side but continue to post that this is an incredible investment, trying to suck more PIs into this, trying to artificially pump the share price. What does that make you?

Do you think you’re morally superior if you post positively about a share and encourage PIs to invest in a dog? Do rampers ever feel guilty about the losses they cause? Nope. Rampers go unchecked while people urging caution are hounded.

That’s why I post here. Cos the willfully ignorant rampers make me sick. And don’t forget, I used to be one.

If it’s not correct tell me why and back it up with facts. Don’t tell me to leave like a coward.

I agree that it’s not a basis of valuation. However it does bring into focus the disconnect between people’s expectations for ORCP compared to the more cautious reaction in riversgold.

By which I mean, anybody who thinks ORCP’s 20% share in NZ should be worth multiples of the share price has to contend with the question of why riversgold’s 80% share price isn’t worth 4 times that. The dilution at RGL was tiny compared to the valuation being thrown around here. Yet all the attention is on why ORCP’s share price is going down, not on why riversgold’s share price isn’t going up.

The reason imo is that ORCP is being driven by sentiment while RGL is being driven by fundamentals.

“ you seem to place zero value on thar”

Correct. They’ve had Thar for well over a decade now and nothing has happened with it. The noise Adi refers to is not new, it just feels new to newbies.

The idea that IF this project happens the share price will do 1000% has just enough of a grain of truth to it to keep PIs invested in a dog while their holding gets diluted to nothing.

Now, please be honest, the recent rise has been because of NZ only, not Thar. So don’t obfuscate the issue by suggesting that even if I’m right that grades at NZ are too low for ORCP to make money, the share price should still be higher than it is.

Or think what you want, but stop blaming MM bogeymen for the price going down when the real reason is that the rise was unjustified based on fundamentals, when you understand what low grades do to the profitability of a gold mine.

No Parv, I didn’t.

It’s not manipulation. The share price went up a lot on sentiment and speculation, not fundamentals. Now that sentiment is over the share price is reverting back to where it should be.

The news does not mean what so many posters here seem to think, for many reason previously explained. The amount of rubbish being posted here is typical of P&D penny stocks from people who don’t understand the mining industry and refuse to learn.

Which is why guys are complaining about ORCP being valued at only £6M while Riversgold, who own 4 times what ORCP own, is at £7M. Riversgold hasn’t gone up much because it’s being driven by fundamentals. ORCP is being driven by sentiment. If ORCP was being treated the same as riversgold it would be worth 1/4 of Riversgold, being a little under .02p

If you have evidence of manipulation please report it to the FCA.

It’s not being manipulated. The project just isn’t worth nearly as much as some PIs seem to think