RE: Cash Situation16 Apr 2026 06:57
Our resident troll also keeps saying the project has an upper limit of £600 million. This is wrong too.
From search, 'Based on reports as of April 2026, the Northern Zone project near Kalgoorlie (managed by Riversgold Ltd in partnership with Oracle Power and MEGA Resources) holds a conceptual Exploration Target of 2.5 to 4.8 million ounces (Moz) of gold.'
Taking the lower figure of 2.5 million ounces, it's worth nearly £9 billion at today's spot sprice, and 10% of that is owned by Oracle.
Someone said yesterday they would accept a buyout offer of 60 million for Oracle NZ share. But it's worth more than 10 times that amount, and that's the lower end of MEGA estimate.