FYI...OROPA RAISES ADDITIONAL FUNDS TO ADVANCE INTERNATIONAL GOLD PROJECT
ASX ANNOUNCEMENT 14 March 2008
OROPA RAISES ADDITIONAL FUNDS TO ADVANCE INTERNATIONAL GOLD PROJECT
HIGHLIGHTS
A $533,900 share placement completed, $500,000 of which is to an existing long standing investor.
Funds will be specifically used to finalise updated resource calculations incorporating new drilling data and to underpin an initial exploration program targeting a potentially large epithermal system at Hutabargot Julu.
Updated resource calculation expected by the end of March – excellent potential to increase existing Inferred Resources totalling 710,000oz.
More sampling and drilling results from Hutabargot Julu expected in late March, early April.
Recent gold price increases together with the potential for additional resource ounces have significantly improved the project economics in the opinion of directors. On that basis, the company will pursue a Scoping Study to explore the economics of mining.
These exciting new developments will focus on delivering value to shareholders.
ORP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
