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ORCP Northern Zone is good, going bigger!

Riversgold have announced:

Program of Work (PoW) for a further two hundred (200) drill holes approved by Department of Energy, Mines, Industry Regulation and Safety (DEMIRS)

• High resolution drone magnetic survey due to commence this week

• High resolution magnetics to be used for structural interpretation

• Structural logging of 4 diamond drill holes to a vertical depth of 500 metres underway, by specialist consulting group Xirlatem, in preparation of structural and geological model for maiden Mineral Resource Estimate (MRE)

• MRE planned to be undertaken shortly

• Metallurgical testwork is underway on oxide mineralisation to add to confidence of previous test work

• Mining Lease application continues through the process, with updates expected later this month

• Miscellaneous Licence applied for from Northern Zone to gazetted roads to allow transport of ore to processing plants

If that wasn't interesting enough...Xirlatem:

Looks as though the whole project is about to be amped ' up considerably from here. MRE looks to be just around the corner with Native Title clearance and subsequent mining lease approvals at the turn of this month if we're lucky. Still awaiting more assay results , but given this announcement , they must be near release , and they must be good. And with an additional 200 holes approved , this looks set to grow exponentially given the MRE will be out before these holes are even drilled. Interesting as well the appointment of Xirlatem for the drill and logging of the FOUR 500 metre diamond drill holes. Interesting because Xirlatem is headed up by Rick Gordon who has formerly been in instrumental geologist roles with Northern Star , IGO , as well as Gold Fields. When he was at Northern Star , Rick worked at Northern Star as Geology Manager for Kanowna Belle as well as Exploration Manager for Kalgoorlie. He was also involved in the discovery of a number of significant orebodies, including Pegasus , Paradigm North, and the Millennium deposit. Previous to that , Rick was with IGO for 5 years where he worked at Long Nickel mine. At that time , he was an integral contributor to extending the McLeay and Long North orebodies as well as also discovering the the Moran deposit. Prior to that he was with Gold Fields at the St Ives Gold Mine. So I can't think of anyone better to be involved in potentially the next significant Kalgoorlie Gold Deposit in 2025 and look forward to more news to follow in the near term.'

Remember Rivergold's GEO Ed Mead bought $110k at the start of April

Other interesting points:-

The tenement that RGL hold a 80% interest in held by oracle is only 80HA in size which is longer than it is wide the adjoining tenement on the Western side is held by Blackcat BC8 which is approximately 1400HA in size. Looking at the drilling it looks more than likely possible that this mineralisation will extend.

MB needs that placing remember

2 pages on Adw, is that a well?

Jokes aside, it really does highlight the "out of hand" level of personal attacks here.

Every time facts gets posted the rampers gets startled. All of the statements can be found in video presentations and in past RNS.

Of course the rampers deny and don't want anybody to know the truth because it doesn't fit into their agenda.

Most here are traders and just looking for a quick profit. They couldn't care less about the longer term performance of the company or whether it succeed or not.

The SP went from 38p to now 1.8p, another fact. The rampers will use the narrative, the company is in a different phrase and what past is past.

Looking at the evidence, the regulated news announcements, it's obvious that Matad will need a lot of funds going forward as they have just commited to yet another block.

It has been mentioned many times that Heron1 cannot cover all the costs. In fact, Heron1 remedial will be in stages and that too will costs both time and money. With £2million in the Matad bank there's no way they won't raise.

There is no JV deal. I like to be proven wrong but just can see one coming. It's all smoke and mirrors like what I have been hearing for the past 10 years. MB says it every year, ongoing talks and interests from multiple parties.

DYOR

Filter List:-

Yoglet

mark99999

Spank.theMonkey

Markie123

wadogara

Playboule

dusterinmong

LTHcine

theofficecat

Swervington

hexxyman

Recalibrate88 (buy sell opinions changes like a revolving door hours apart)

HeimeichIII

gustard

Bearded dragon

Rob-50 (encourages people to buy while selling out himself, then comes back to laugh at people)

Beaub11

Supersport

Cheshire

Jamesp21

Gingerhippo (a long term holder holding a grudge towards the board, a super negative individual)

Dr Remington

StMartins

ProfitJock (unhappy with warrant excised prices, sold out then 180degree change from positive outlook to super de-ramp)

ART123

Tiger16

Sharebel

markconnor01 (a self-proclaimed business man in the gold sector, claimed to hold for long and gave a buy rating, one day sold out and started de-ramp)

ScarletVixen (a prolific derampers, most of it is nonsense and speech of hate and racism even)

List of names to look out for. They are either serial derampers or two-faced snakes on this board.

Why do I remember all these stuff...fun to have on record however.

Filter List:-

Yoglet

mark99999

Spank.theMonkey

Markie123

wadogara

Playboule

dusterinmong

LTHcine

theofficecat

Swervington

hexxyman

Recalibrate88

HeimeichIII

gustard

Bearded dragon

Rob-50

Beaub11

Supersport

Cheshire

Jamesp21

Ginger hippo

Dr Remington

StMartins

ProfitJock

ART123

Tiger16

Sharebel

markconnor01

ScarletVixen

List of names to look out for. They are either serial derampers or two-faced snakes on this board.

It's always the best time to buy when the derampers show up. You don't see them around during massive rises because they want you to buy while they offload shares. In other words they are traders.

Black Cat Syndicate Ltd's market cap is $562.60M and their share price is $0.82

Worth noting that GGPs market cap is £1.7billion.

Oracle market cap is £2million

A £10 million market cap would be 0.1p

A £50 million market cap would be 0.5p

A £100 million market cap would be 1p

You can see the potential upside is huge even if it's a fraction of GGP.

Imho

RNS out

GGP back in the days had went from 2p to over 40p on their gold discovery. Don't forget the JV is precisely what this is about, by giving 80% stake Oracle is on a free carry. The 20% stake is equivalent to a staggering $2.6billion from the 4.8million Oz targeted.

Alans55, I feel like things will be moving in the right direction very soon. GL to us both. Let's hope Northern Zone can turn our Matad losses into profit.

Currently with a Market Capitalisation of £2million. Should be at least £10million in my opinion

"Petro Matad Limited, a company incorporated in the Isle of Man on 30 August 2007, has six wholly owned subsidiaries: Capcorp Mongolia LLC and Petro Matad LLC (both incorporated in Mongolia), Central Asian Petroleum Corporation Limited ("Capcorp")'

Looks dodgy as hell in my opinion. That's how Frontera Resources have lost their block license leaving shareholders with naught because it was transferred away to another subsidiary.

It all comes down to the due diligence of those in charge, but the risks are certainly there especially this is AIM.

All in my opinion and DYOR

10 years plus, MB has done everything except the one thing he should be doing, and that's making money and creating shareholder value.

To those saying H1 about to turn things around, no it isn't, MB has bidded for Borzon, another cash burning component.

All in my opinion and DYOR

30 Well plan?

Another fictional scenario as I don't recall any official announcements refering that.

Keep dreaming.

Projected sales of 180-200bopd of oil.

Forecasted funds required £14.9million for Borzon alone over the next 8 years.

Not very attractive at all when costs far exceeding potential profit.

All in my opinion and DYOR

"Proquo, agreed, also 2028 refinery start date would suit PC or other buyer as it gives time for Heron to be developed to the extent the refinery needs"

So you are agreeing that there are no quick developments with the refinery pushed back to 2028?

How much more funding required in the next 3 years do you think?

Can you also explain if the focus is Heron, why did he old xxxx bidded for the new block Borzon?

MB said at the AGM he is an optimist. Another word for that is a gambler and so far he has lost £174million of funds.

Shambles

All in my opinion and DYOR

"Really interesting detail in that article Abzzba is that the Chinese have invested $367million in a Mongolian field with less than 15 million barrels"

Just further adds to the point how incompetent MB is. He has 10 years plus and couldn't get a deal

All in my opinion and DYOR

"Looks like the refinery will not be completed until 2028 which suits us if we end up with a buyout of Heron field."

Delays delays... I'm not surprised given all the exhausting Mongolian bureaucratic processes

In my honest opinion

⚠️ No shareholder value ⚠️

1) £174million spent over the years and not a penny of revenue achieved. The accounts should be audited to see if they match up with the operational costs as claimed.

2) There has been numerous operational delays when the CEO have promoted "exclusivity and support" from the Mongolian Government.

Yet, in over 10 years investors are still waiting for first sale with no guarantee in sight.

The lack of transparency on the issues involved could be a strong case of market misconduct as MATD have constantly reassured investors and promoted the good connections with the Mongolian Government.

In reality, it is the complete opposite and investors were mislead into investing into the false prospect of the company.

Points for reference:

-All of the wild cat drills were off the mark despite investors being advised on 60-70% chance of success.

-5 years to obtain the land permit despite good connections with the Mongolian Government

-Payout to the local environmental protestors for land access were another company mismanagement which has impacted shareholders

-6 months for the export signature

-In what appears to be an over commitment / shift of focus from Heron to Borzon. Investors original bought into the strategy of steadily expanding on the portfolio and becoming a self-funded company.

However, with Matad without even bringing Heron onto production, the CEO is already committing to a new block.

This does not go in line with the initial strategy of becoming a self sufficiently funded company. Matad just don't have the funds to be committing to multiple projects.

Intentionally or not, it has been a complete shambles for Matad and all the long term holders have lost money. The outlook is grim and trust is gone. Issues and uncertainties remains around the company's forecasted oil production and revenue. The strategy is poor and Matad have lost sight of the focus. They are over committing despite continued failure to bring on a revenue stream.

Meanwhile, they are hanging onto the approx £2million in the bank.

It's evident that there were never any shareholder value. The company's intent were never about that. It's more about the BODs keeping their own pay cheques and shareholders will be further diluted each year.

All in my opinion and DYOR