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Good work AG, interesting. 33% wow, that would be massive.
Definitely LTH. The NEPRA approval for KE, would tie in with other pretty significant projects for them, but if a deal for Block 6 could be inclusive within that (PAP), it would be pretty ground breaking for Oracle Power, and it’s shareholders.
If so, you’d imagine to see some kind of MoU extension in the near future, otherwise it would amount to nothing. Interestingly, Power China (also involved with the MoU), were executed in an MoU extension at GCM resources recently, prior to them committing $1Billion for a coal mine
(https://www.lse.co.uk/rns/ORCP/mou-for-132-gw-coal-power-plant-8211-thar-block-vi-x4zw3vntwjbds3r.html)
I remember how well that RNS read and got the juices flowing, it has been disappointing to not hear any more about the project since.. Especially as the Mou has or is due to expire any minute.. Hopefully the NEPRA approval for K-electric acquisition program brings Thar funding a step closer. Do we think the ownership %'s are accurate? Last i heard i thought we were going to have 12% of it, 33% sounds incredibly good, if accurate.
just been having a discussion on the twitter group
since may last year, when we signed the mou for thar block 6 with: gos, k-electric, power china
it really has been quiet and nothing reported since (from oracle)
https://www.lse.co.uk/rns/orcp/mou-for-132-gw-coal-power-plant-8211-thar-block-vi-x4zw3vntwjbds3r.html
but going down something of a rabbit hole, i found the following links for the last couple of months
https://www.power-technology.com/data-insights/power-plant-profile-thar-block-vi-power-plant-****stan/
https://www.gem.wiki/thar_block_vi_power_station
“in july 2023, the thar block vi coal plant was listed as an "upcoming ipp" by the private power & infrastructure board (ppib) of the government of ****stan's ministry of energy. the proposal was labeled as an indicative generation capacity expansion plan "candidate project" through 2032.[34]
in november 2023, the ppib's "upcoming ipps" listings indicated that the proposed power station was "under review" and the expected completion date was now december 2028.[35]“
two entirely separate articles, both alluding to further developments, and that the project has an equal equity holding of (33.4%,33.3%,33.3%) - k electric| oracle power| power china respectively.
now it’s either very lazy journalism, or there’s actual meat on the bones to this. alludes to project construction 2027, with completion date 2028, which admittedly seems a very short turn around but that’s that.
then moving onto k electric, rummaging through their latest news events on their website. an enormous company with plenty of work ongoing. they submitted a pap (planned acquisition programme) to nepra (national electric power regulatory authority) in 2023. this plan outlined their intentions to invest 484 billion ****stani rupees (£1.36b) into these different projects, with a big aim to invest in renewables.
nepra officially approved k electrics plans only 2 days ago which could be significant
https://www.ke.com.pk/nepra-approves-k-electrics-power-acquisition-program-for-fy-2024-2028/
also adding
“additionally, the pap includes capacity addition on local coal which will diversify the energy mix and reduce reliance on imported fuels.”
which could potentially tie into block 6. still nothing official from oracle but cards being played by powers far above oracles station currently. could there actually be developments finally for block 6, is it a saga destined to continue into nothingness. following k electric very closely for further announcements
Https://www.lse.co.uk/rns/ORCP/option-to-acquire-copper-silver-project-j6bpjpgo3zmuqqy.html
Would be when the 45 day option expires ?
£200,000 payable in shares.
Challenging myself how many times I can say the word “see”
I see the Loi has been extended too, good news but a necessity in continuing the process
I see this MoU is now out of date, regarding THAR BLOCK 6. 16th may - Hoping to see a delayed extension in the near future, something GCM did not long ago before receiving a $1 Billion commitment
https://www.lse.co.uk/rns/ORCP/mou-for-132-gw-coal-power-plant-8211-thar-block-vi-x4zw3vntwjbds3r.html
They'll flip them at first opportunity.
Am I reading this correctly Peel Hunt own 23% of the company , if so , someone is confident , or am I missing something?
It used to be weeks, but post covid you were talking 3-6 months in some cases with such a high backlog
Probably would have eased off a little since
Any knowledge/idea how long it usually takes to drill and get the results with 2 rigs in operation?
Read the SP Angel note: "MKTS SPOOKED", "Chinese going for the SAFEST OF SAFE HAVENS" etc. In line with news last night of the M.E situation etc. Tues, 20.5.24.
Safe haven? GOLD, hence why up to record price etc.
Https://twitter.com/DavidLenigas/status/1792493835441889432 Tues, 20.5.24
ORCP Mkt Cap : £1.31m @0.02p.
Last gold boom in 2010 saw prices of juniors rise, hence good time to drill and get our a resource statement given few juniors on AIM in Tier 1 jurisdiction ie Australia.
Gold has broken the high of $2,442 [Link: https://uk.advfn.com dated Tues, 20 May 2024. THE NORTHERN ZONE DRILL is to start this mid week in Kalgoorie, Western Australia. 2 rigs will be deployed to fast track. The drillers are DDH who are big time drillers who drilled Havieron for GGP. I recall that Newcrest also uses the same drillers? The SIZE of the resource definition is significant and the PREVIOUS round of drilling showed 100m thickness. So, this drilling is to GET OUT A MAIDEN RESOURCE STATEMENT per RNS? Nothing to do with Naheed who is not in charge of the Northern Zone drilling.
As the ORCP mkt cap is so low, the Northern Zone asset can provide a uplift to ORCP. Moi? Tues, 20.5.24.
I think the trouble here is that nobody has any confidence in Naheed to deliver or complete on anything, regardless of the potential of any one of the projects.
RGL on the ASX is drilling the NORTHERN ZONE, Kalgoorie, W.Australia next week fast track with 2 drill rigs.
I am watching RGL as they are the JV partners to ORCP.
Tweet sent to @Naheed_Memon [CEO of Oracle Power], @ZaksTraderCafe @zakmir. Fri, 17 May 2024.
[Screenshot of ORCP RNS shown of NORTHERN ZONE drilling next wk starting.]
Riversgold Ltd, ASX is the JV partner to ORCP in next week's start of drilling at the NORTHERN ZONE, Kalgoorie, W.Australia.
Riversgold went up the 2nd day since the drilling news announcement +11%. The top post on the Riversgold forum in Oz is about the NORTHERN ZONE vs SATURN METALS, ASX AT APOLLO.
"Comp Sheet passed by brokers in Australia to each other: Riversgold $9m Mkt Cap, RESOURCE TARGET: 200-250MT ===@0.40-.06 g/t au === for 2.5-4.8 MOZ GOLD. ==
STN [Saturn Metals, ASX] $54m mkt cap , 93.9Mt ==for 0.54g/t au == 1.64 MOZ of gold with $388m NPV.
This is SIGNIFICANTLY LARGER RESOURCE POTENTIAL===WITH 2-3X MORE GOLD AT A SIGNIFICANT DISCOUNT."
Pdf of Apollo Hill comp [Saturn Metals] given in the post on RGL [Riversgold, ASX] on Hotcopper."
https://hotcopper.com.au/threads/rgl-comps.80077178/ dated Fri, 17 May 2024 by baybull, Australia.
My comment: 2 drill rigs will be utilised to fast track drilling. From reading the RGL announcements etc, the driller appears to be DDH, the same driller for GGP's Havieron, Paterson. W.Australia. Nice. By the way, Apollo Hill @Saturn Metals, Oz has been the comparative as it is closer to Riversgold's NORTHERN ZONE and mentioned on Twitter etc.
So two positive RNS’s follow the placing two days in a row… like I said, this drop was engineered to get someone cheap shares. The warrants attached at the price the share price was at the time to take the edge off it abit.
As ya know, Ed Meads came from ARV, then to RGL & assigned to ORCP.
To be fair our point of call was Ed Mead, our Geologist in Australia with bags full of experience in the field. I think we held our own. We've raised money for GH on some shocking terms, but we've probably raised north of £3m so far, so it is possible. I'd have like to have seen a few more drill campaigns, delineate our own resource and potentially get a stronger JV but it's not the end of the world, and, NZ is being progressed
Its a good job he likes Naheed. Cos Broker...asked for a project or get a project and run it with him = NO.
So, thankfully, he likes Naheed, ORCP CEO. LoL.
Most importantly of all, AFTER THE DRILLING DONE and Maiden Resource issued, it is WHAT TO DO WITH THE PROJECT. Ah, ORCP does not have that type of M & A contacts in Australia. Also, RGL is getting a lot of publicity in Australia ie STOCK OF THE DAY COVERAGE, Stockhead.com. au, Proactive etc. So, AUSSIE PROJECT with Aussies and Aussie INVESTOR INTEREST. Cant run it from Britain and no one would be interested without AUSSIE GEO EXPERIENCE & CONTACTS.
To be fair, it kind of was gifted to ORCP, £90,000 + plus a share package, and to retain 20% moving forward is better than moving the project on Completely. Its in a brilliant jurisdiction and i think with the current drill Campaigns, Riversgold will have completed their earn in, or not far off it, establishing the 80:20 JV
Some points to note:
[1] In Australia, there is a lot of work to do to prep a drill eg heritage clearance if any etc.
[2] Drillers need to be hired and to get the best price and good drilling outfit & an Aussie is better placed vs from UK ie has extensive Aussie contacts.
[3] This is going to be fast tracked drilling.
[4] A$1.85m was raised and not possible for ORCP to raise that type of money.
[5] Aussie investors wont buy into a London AIM co without Aussies on board or AUSSIE LISTED , hence RGL ie Riversgold.
[6] Lots of geo work to be done and it needs EXPERIENTIAL Geo's who know the ground at Kalgoorie, work there etc.
[7] In my view, it was "gifted" to ORCP. It could have been given to any AIM co. Even for a major, that is the type of terms ie look at Havieron. I dont know the full details but that is the range.
[8] Aussie chased Riversgold up by a lot on the news the drill is starting NEXT wk. Think it shows confidence in the drilling experience of the mgm since they did the initial work as well. They have the contacts with Saturn Metals etc given heap leach mentioned etc. My view only and hence why I came in.