Comrades,
since we are on the OAR prediction thread, the following are my ramblings and predictions
In the last 6 months since Covid our management were very smart and clever with securing the Crown Lease project ,that was what spured me to go so heavy at OAR, I thought it was a brilliant move and I did post that here in the early days for those who remember. Instead of sitting on backsides they moved forward and found a ¨highly sort after project ¨so close to our office and a project that can be worked with during these covid times and that project just happens to be in one of the hottest spots in the country at the moment ...Julimar . I have alway stated this will add so much value to share price once exploration starts and if any grades there similar to CHN then we will all be able to retire, but we will need cash and funds to get that moving.
Now I believe the next decision that impressed me by management was to commence drilling at Nevada asap and not only commence drilling but expand the program into Douglas Canyon, these projects were the most advanced and the quickest possible way of increasing share price for future works at other projects. The drilling program has obviously been increased from the original amount of $150k and extra funds diverted I believe from Peru Plant upgrade because the Covid restrictions were extended to September 30.
The CR completed to raise the extra $2,000,000 at 2.1c was a brilliant move and achievment by management, it was done at 10 times the previous CR only 6 months prior so I am hoping if there is another CR it could be done at 10 x this price say 21c. We now have enough cash to Drill Nevada, commence exploration at Crown, Commence upgrade of Peru plant and last but not least our other secret little gem is MT Hope right next door to ADN currently valued at $164M mc with their Halloysite and Kaolin projects, there has been funds allowocated for commencment there as well and I believe that budget would have now been increased and project advancing quicker than planned on the back of the success of our neighbours ADN.
Future Cash requirements.
If we look at the way SIRIUS(SIR for the newbies they went from 5c to $5) completed their raises from the following table, I beleive we are heading in similar path and we could have extra help from 2 sources.
1. Peru, completing the upgrade and start producing Gold, could be organised and completed in a very short period of time
2. OARO options, the timing of these options could be near perfect, currently there are 546,000,000 options and if converted will generate us over $21,000,000 and as I have just witnessed on NVA where their options were 0.0325c to convert and they were 99.6% converted on the belief and faith in the company, this was an outstanding effort and it could be achieved here. yes there will be an extra 500m shares but that brings us to a total of only just over 2B shares which is very very reasonable considering our possible cash position and what we can achieve with Crown and Mt Hope not taking away the possible reserves we can hit at Nevada, NVA currently sitting on 2.5M ounce reserve yes still plenty of drilling happening there but they are currently on a $136M mc so if we can prove up a similar reserve then add another $100m mc to our share price. Who wouldnt convert their options if the share price got to $10+, I will, it will cost me a fortune but worth it.
OK so all in all, OAR in my mind is currently one of the if not the most exciting Companies here on the ASX the management here at present making all the correct decisions and working hard to bring this company to a $500M mc company, the next 12 months is going to be the most exciting time of my life and for plenty of you people here who have got in now before the real action begins.
Good luck Comrades, thank you for keeping threads civil.
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