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AI says:

The workflow tracks the transition of the Northern Zone Gold Project from a Prospecting Licence to a full Mining Lease. Here is a breakdown of the steps shown:

Application Plotted in Tengraph: Completed on 05/12/2024. The physical boundaries of the tenement were mapped and locked into the WA government’s spatial system (Tengraph).

Assessment for Recommendation: Completed on 05/06/2026. A technical officer evaluated the resource potential and environmental parameters under the Mining Act 1978, making an official recommendation to the decision-maker.

Lodged Objection: Finalised on 14/05/2026. Formal disputes or claims against the tenement have been officially resolved or closed.

Referral under Native Title Act: Completed on 20/03/2026. The required legal compliance window—specifically the Section 29 notification period—has finished.

Assessment for Determination: Status is Progressing. This is the ultimate stage. A senior executive or the Minister's delegate is evaluating the completed file to make the formal, binding legal determination to grant the Mining Lease.

Technically, Ilika’s 10Ah cells appear credible and ahead of many early-stage solid-state battery developers, as the company has already shipped working prototypes, progressed manufacturing beyond the laboratory stage. The feedback from these validating partners will be critical and could prove to be a real game changer, potentially leading to commercial agreements and the first meaningful revenue opportunities for the company.

The company is likely to have already received initial feedback, which may already have been incorporated into the 50Ah cell design, potentially accelerating the timeline for sending the next-generation cells.

IMHO - the SP would take off once we receive the feedback.

Why do you wanted to know?? Are you invested??

The market hasn’t forgotten how management has treated PI’s in the past, that’s clearly reflected in the share price. Trust takes time to rebuild, and right now it’s lacking. If you’re betting on a phoenix moment here, you’ll need patience and a strong stomach.

Gold grade drilling is done, and the assay results point strongly toward a viable open-pit operation.

Now it’s about process and paperwork. MDCP submission is the next key step, followed by the mining lease.

From here, it’s a waiting game… but if execution stays on track, this has serious upside potential from current levels.

Strong gold results already proved

Heritage clearance achieved (no obstacles to mining)

Fully funded by MEGA

Now geotech drilling for pit design to support MDCP

It is quietly ticking all the boxes.

Not long now, The next 3 big re-rate events will likely be:

Mining lease granted

MDCP approved

First production timeline confirmed

According to interim results upto 30 June 2025 (please read RNS)

Cash at the end of June 2025: £557,986

Burn: £267,715 for half year (6 months ended 30 June 2024: £264,942)

Runway (pre-raise): ~12 months

Raised in Aug 2025 : £500,000

Runway (after raise): ~20–22 months

According to interim results upto 30 June 2025 (please read RNS)

Cash at the end of June 2025: £557,986

Burn: £267,715 for half year (6 months ended 30 June 2024: £264,942)

Runway (pre-raise): ~12 months

Raised in Aug 2025 : £500,000

Runway (after raise): ~20–22 months

According to interim results upto 30 June 2025 (please read RNS)

Cash at the end of June 2025: £557,986

Burn: £267,715 for half year (6 months ended 30 June 2024: £264,942)

Runway (pre-raise): ~12 months

Raised in Aug 2025 : £500,000

Runway (after raise): ~20–22 months

Revenue from Northern Zone should be expected shortly after the mining lease is granted. This would be in months, not years. The current and historical drilling results are already strong enough to support a Mining Development and Closure Proposal, which is sufficient to begin initial extraction and generate cash flow.

A formal Mineral Resource Estimate is not required to start mining, and waiting for one would only delay value creation. This is a clear “mine first, define later” situation—bring shallow, high-grade ounces into production, generate revenue, and continue drilling to deliver the MRE in parallel.

The is the route MEGA are going to take.

Thera are some other companies which took same route in Australia before, this is nothing new in this region. there is no strategic justification to leave gold in the ground, the priority will be to convert approvals into production as quickly as possible.

It’s been two week since RNS Stated:

We anticipate that the Mining Lease will be granted in the coming weeks, which will prove to be a major milestone for our Kalgoorlie Gold Project plans with MEGA Resources.

It won’t be much longer now, it could drop this week or next week.

The existing 10% free-carried interest, fully funded by MEGA Resources and requiring zero capex from ORCP at the Northern Zone gold project, could alone support a valuation materially higher than the current ~£40m market capitalisation.

Investor caution appears to be driven primarily by the company’s present cash position. However, with the Mining Lease progressing and operations targeted to commence in H1 2026, the current share price may not fully reflect the de-risked economics of the project.

The existing 10% free carry with zero capex and fully funded by MEGA on its Northern Zone gold project alone could justify a valuation well above a £40m market cap. The market’s hesitation appears to stem mainly from the company’s current cash position. However, once the mining lease is secured and operations commence in H1, today’s share price levels could be a thing of the past.

At these prices, it may represent an attractive accumulation opportunity, with the potential for significant upside over the next six months. Ongoing geopolitical tensions and escalating conflicts in the Middle East and Pakistan are likely to support higher gold prices, which could positively influence the company’s share price rather than weigh on it.

Gold and silver prices may see strong gains tomorrow, potentially benefiting ORCP as well.

This is great RNS, Mega and RGL are fast tracking the process. Mining license is imminent and gold production is going to start soon much earlier than my anticipation. Going to a massive day for ORCP

SM - why are you not happy?

Because mega bought 100m RGL shares

The Mine Development and Closure Plan (MDCP) and the associated environmental assessments have commenced with Resource WA

And gold money is going to arrive sooner than expected

nice try but unfortunately it will go in vain.

Great drilling results

8m @ 5.81 g/t Au from 46m (NZAC179)

· 7m @ 3.48 g/t Au from 48m (NZAC181)

· 5m @ 3.13 g/t Au from 41m (NZAC170)

· 4m @ 2.28 g/t Au from 43m (NZAC182

The main take away points:

The mega bought 100m shares in RGL shows the confidence

The Mine Development and Closure Plan (MDCP) and the associated environmental assessments have commenced with Resource WA.

Conversion of mining lease progressing, should be imminent

Further 16 holes drilling planned.

GOLD REVENUE TO COME IN 2026

The recent RNS issued by riversgold states

Conceptually, the Company also draws parallels between Northern Zone and Saturn Metals' Apollo Hill Project, discerning similarities based on the PEA statement released by Saturn Metals (ASX: 17 August 2023), which suggests the potential for a sizeable low-grade heap leach operation. Saturn Metals Limited has released a Preliminary Economic Assessment (PEA) on the Apollo Hill Gold Project which is located 175km due north of Northem Zone. With a resource estimate of 137.1Mt at 0.51g/t gold, totalling 2.239Moz³, this development serves as a benchmark for our aspirations at Northern Zone, albeit with the potential for Northern Zone to be an even larger project.

By referencing Apollo Hill, Riversgold signals an interest in developing a large-tonnage, lower-grade operation. Current grade-control drilling is part of their due diligence process to define a maiden MRE and prepare for early production planning.

Wait for trading to start again, you’ll likely pick them up much cheaper than the issue price of recent CLN.

The project currently holds a defined Exploration Target of 200–250 million tonnes at grades ranging between 0.4–0.6 g/t gold, representing a potential 2.5–4.8 million ounces of contained gold. This exploration target is based on geological modelling, historical data, and results from prior drilling programs.

Once the current drilling program is complete and all assay results are received by end of November a Maiden Mineral Resource Estimate (MRE) for Northern Zone would be issued. This will be a key milestone for the project, as it will formally define the size and grade of the deposit and move it closer toward feasibility studies and potential mine development. The shallow nature of much of this mineralisation enhances the potential for a low-cost, open-pit operation.

Please spare some time to read RNS before you invest, extra some info for your context

The Northern Zone is owned 80% by ASX listed Riversgold and 20% by Oracle ("Project Owners") as set out in the Earn-in Agreement between the Project Owners in May 2023, with the JV agreement to be documented by 31 December 2025 latest.

· Riversgold has signed on the Project Owners behalf, a Right to Mine and Co-Operation Agreement with established WA Goldfields mining services provider MEGA Resources for full project funding, mining, and haulage services at its Northern Zone.

· MEGA Resources is a full-service mining contractor that will now be providing all of the funding for the operation, through BGR Pty; MEGA Resources will also provide geological and engineering services and manage project approvals.

· Mega Resources has a partnership with mining giant BGR Mining & Infra Limited, which owns BGR Pty, and which will provide funding for mining operations at the Northern Zone.

· No upfront funding is required from the Project Owners.

· MEGA Resources and BGR will share profits equally (50/50) from operations with the Project Owners.

· 10% of monthly profits (funded on a 50/50 basis) will be reinvested back into grade control and step out drilling.

· MEGA Resources is aiming to break ground during the first quarter of 2026, subject to the Project Owners gaining all the final tenement permissions, mining approvals and the signing of a binding Ore Purchase Agreement with a third-party processing mill.

· The Northern Zone drilling has already identified a gold mineralised porphyry around 600m wide and around 500m deep from diamond drilling[1].

· New Northern Zone drilling programmes are being planned to test extensions of known gold mineralisation.

Under the MEGA Resources Agreement, MEGA Resources and BGR Pty will pay for 100% of the costs to develop and mine at the Northern Zone, including paying for all ancillary activities (which incorporates haulage of material to the point of sale, maintenance of haul roads and processing costs).

In return for MEGA Resources paying for all of the upfront costs at Northern Zone, any profit generated from this partnership will be split 50%/50% with the Project Owners.