OAU 0.00% 2.2¢ ora gold limited

watch for any announcemets

  1. 1,935 Posts.
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    With Thundelarra hovering around the 23 – 24 cent mark they are poised to move upwards with any good news which could come at anytime.

    The most immediate news could come from the drilling being done on their Watertank Gold Claims, next to CRS Daisy deposit. The whispers coming out of the locals is all positive.

    In my view the most important long term development is if RIO take up their option to continue on the Nickel and other base metal East Kimberly huge claim area held by THX.

    This in my mind will trigger some very strong interest by investors. Why?

    Rio and THX have been collating and sharing exploration data accumulated over the last 30 odd years in this area. This includes stream and soil samples obtained by RIO when they were closely looking in that area for diamonds. I have been told that this data has be taken from areas where very few white men have ever ventured. In the early days RIO were just looking for diamonds.

    The total area of joint venture between RIO and THX I have been told will be about 30,000 square kilometres, some of which is outside the present pegged area of THX. Any finds will be shared as per the JV agreement. This includes diamonds, gold etc. This coupled with the fact that RIO will spend up to $20 million on exploration will certainly be the JV of the year.

    One very important fact that will not be missed by the astute investor is that RIO is only interested in the big find. Any deposit which has an in ground value of less than $1 billion will be retained by THX. This is a very big bonus for THX as deposits below this figure have already been located. (ie : Sally Malay “SMY” ) and THX’s Copernicus and Salk deposits. As a comparison the current deposit that is to be mined by SMY would only be about the $1 billion in ground value. In other words THX could end up with several of these type of deposits that are not big enough for RIO.

    Keep in mind that if the JV is consummated, RIO must think they have a chance of finding the BIG one.

    The recently announced JV with SMY on the two nickel deposit’s found will give a cash flow boost when mined and run through SMY plant. Sally Malay, apart from their mine site is starved of exploration ground and will be very interested in any new discoveries by RIO and THX.

    Word filtering out is some top new targets have been identified.

    Diamonds :

    The exploration JV with BHPB/Dwyka on the Phillips range claim areas is now poised to take a dramatic change.

    It has been reported that the whole claim area, (some 1,000 sq km’s) is now going to be covered by the “Falcon” technology with follow up drilling on some red hot targets from last year. This is all going to take place this exploration year.

    Disclosure : I am a long term shareholder in THX - the views expressed are my own.
 
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