ORP 5.71% 3.7¢ orpheus uranium limited

Hi thejase128,Please read ORP's announcement as at 14/03/2008 in...

  1. 2,629 Posts.
    Hi thejase128,

    Please read ORP's announcement as at 14/03/2008 in answer to your question:

  2. "by looking at the interm report this company doesnt have much cash left to fiance its reports//"



    ASX ANNOUNCEMENT
    14 March 2008


  3. OROPA RAISES ADDITIONAL FUNDS TO ADVANCE INTERNATIONAL GOLD PROJECT

    HIGHLIGHTS

  4. • A $533,900 share placement completed, $500,000 of which is to an existing long standing investor.

  5. 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.

  6. Updated resource calculation expected by the end of March – excellent potential to increase existing Inferred Resources totalling 710,000oz.

  7. More sampling and drilling results from Hutabargot Julu expected in late March, early April.

  8. 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.

  9. These exciting new developments will focus on delivering value to shareholders.



 
watchlist Created with Sketch. Add ORP (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.