RE: 2025 stark improvement vs 20241 Jul 2025 07:12
Our residents “accountant” doesn’t realise cash will now be significantly higher than 2024 year end, nor that the CLN has GONE. He’s hilarious - first “stand-up” accountant, I’ve come across.
At 1 g / t 200m x 400m and 290m deep (it’s open in all directions, so this is the minimum) and 2.2-2.5 t / m3 rock density with 65% recovery rate it’s approx 1.25 M ounces of gold. On the basis of it open in all directions and greater depth a fair value for the mine is USD100M.
It’s a side show for ORR but if a 400k JORC at this early stage might be worth USD20 an ounce. ORRs share has a take over value of circa USD3M. A tidy asset considering the MCAP.
They should sell to fund better prospects, to avoid farm-in dilutions.