ORP is a very strong ten bagger candidate. At this stage it is...

ORP is a very strong ten bagger candidate. At this stage it is "under the radar" by most folks. ORP bought out Sons of Gwalia interest in the Pungut prospect in Indonesia. At the time of the purchase inferred resources stood at around 300,000 ozs of gold. Limited drilling on this resource at Shiyo doubled the resource to 610,000 ozs on an open structure both along strike, to the sides and at depth. This structure was drilled over 500m from 5000m of mineralized strike. These ounces start on surface and are a mix of oxides (near surface) and "slightly refractory" sulfides deeper down. At a guess we probably have a little over half of this resource as oxides. This issue may explain why the recent placement was at 1.2 cents (whereas earlier placements were at 2.4 cents).

The COW (leases) have over twenty prospects noted where drilling and trenching have identified numerous high grade gold shows next to historical mining (understand that the old dutch mine on the COW has many miles of undergound workings where high grade gold was extracted).

ORP will start drilling on a fresh area called Tambang Hitam over 600m of strike which carries three gold zones. ORP is obviously looking for near surface high grade oxide ounces. Assuming a strike length of 600m x 100m depth and thickness of 40m this target represents a volume of 6,240,000 tonnes x 2.7 g/t = 543,483 ozs. Have used the grades and widths found at Shiyo to "ballpark" the prospectivity of this zone.

This speculative estimate on Tambang Hitam covers less than 5% of the total prospectivity of all the gold zones on the property and only to a depth of 100m. ORP is currently valued at around A$14 million. Upside here is enormous. Newmont is next door, and like all neighbors is probably looking over the back fence. Assume a valuation of US$50-75 per million ozs of drilled reserves on a property that may potentially? hold multi million ounces.