ORP 0.00% 8.0¢ oropa limited

is oxiana or newcrest in talks with oropa

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    I have cut down the article posted earlier to some key points from: COMPANY MAKING BONANZA GRADES to JV WITH MAJOR MINING COMPANY, well OXR would be ideal as there 60km from ORP or will NCM be interested as "Hutabargot Julu shows similar signs to Newcrest’s Gosowong mine in Halmahera", this is what ORP needs to move significantly forward imo confirms a standout spec buy read below:

    The company is at the crossroads at its 75% owned Pungkut gold project, with the Sihayo and Sambung prospects almost at the scoping study stage and exploration ready to be stepped up at the nearby epithermal Hutabargot Julu prospect, which has the potential for ‘company-making’ bonanza grades.

    Pungkut is on the highly prospective Sumatran Fault Zone and is adjacent to Oxiana Limited’s Martabe project with estimated reserves of 6 million ounces of gold and 60 million ounces of silver.

    Oropa is currently drilling the large epithermal Hutabargot Julu prospect to the south of Sambung, where drilling to date has been exploratory to establish the orientation and strike of the quartz vein systems. The company has just started drilling its first deep hole at Hutabargot Julu to test for high grade mineralisation at depth. There are also numerous other untested exploration targets located within the Contract of Work (“CoW”) area.

    Philip Christie says: “We will carry out a scoping study in the second quarter. We believe that production of 60,000 to 80,000 ounces of gold per year is achievable but the study will take into account a number of factors to determine whether this level of production is optimum and profitable.”

    We have considered a number of ways to seek financing to move to the mining stage - it can come through raising funds ourselves, or through a joint venture with a major mining company. Oropa has also looking at becoming involved with coal mining opportunities in Kalimantan to generate cash flows to fund the Pungkut operations. There is not a huge capital expenditure needed to develop these projects and there are good profits to be made. Some Indonesian companies have done the exploration but are looking for partners to farm-in at the mining stage.”

    “Hutabargot Julu shows similar signs to Newcrest’s Gosowong mine in Halmahera , Indonesia which proved to be an extremely profitable venture for Newcrest and we are optimistic about Hutabargot Julu doing that for us
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