I also had plans to double my holding but was blindsided, in a good way I guess, by this announcement. I am still proceeding to lift my stake but now paying 40% more for the privilege! Such is life LOL
It was a great intersection no doubt but 'expected' and tempered somewhat in that it was a confirmation hole to previous drilling. But the prospects for new hits of similar grade across the newly procured Okeip tenements is more than likely and that is the main attraction to me. It's a full-on regional base metal play, underpinned in the short term by a project level BFS for both Flat Mines (Okeip) and Prieska. These both drop in the next 3 months and will show some pretty impressive economics IMO, helped along by the ORN approach to low scale early mining/revenue to ease the funding concerns.
The comprehensive and high quality nature of ORN reporting has always impressed me and given me confidence, enough to now balance the jurisdictional risk and make me confident to take a bigger stake.
Although I think the current funding is more than enough to support the early mining at Prieska as well as the two BFS's, I would not be surprised if Errol takes advantage of this increased share price to raise some more funds for Okeip exploration. You could see him champing at the bit in his latest interview to get cracking on that. I would support that (discount dependent) as new juicy hits will keep the current momentum and share price building!
ORN Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
