Well another day goes past & OROPA makes another brilliant announcement regarding Pungkut gold, a 49% resource upgrade to above 1mil oz Gold, so what market reaction do we get? a slight run to 8.9 & a poor close at 7.5 on very light volume of 2mil shares, showing the market shrugging off a major step forward for oropa becoming a producer in the near term.
These were the key points from todays news:
* Independent resource estimate for Sihayo 1 North increased by 49%.
* Inferred resource base now 12.1mt @ 2.4g/t Au for 910,000 ounces of gold.
* Combined Inferred resource at Sihayo 1 North and Sambung gold deposits now stands at 1.01 million ounces of gold.
* Sihayo 1 North resource remains open along north western margin.
* Scoping Study to immediately commence for Pungkut mining development.
* Drilling planned at both Sihayo 1 North and Hutabargot Julu to further extend resource base.
* Oropa will also embark upon an infill drilling program to increase resource confidence to at least an Indicated status as preparatory work continues towards a Bankable Feasibility Study.
Now I have gone through my research over & over again & come up with the same answer major undervalued potential gold producer. ORP should be trading between .20-.50 with there Indonesian Gold/Malawi Uranium/India Diamonds
Market Cap: $13.5mil Share Price: .075 Shares on Issue: 179mil Project: Pungkut Gold Advanced 1.01mil oz Neighbours: Oxiana, Herald
Very Strong Spec Buy
DYOR
ORP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
