Hard Asset Investments • Wed, Sep. 10
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- Orca Gold has announced several new high-grade drilling results at its Block 14 project; results included 10 metres of 27.98 g/t gold uncut and 12 metres of 3.94 g/t gold.
- These new drill results are very bullish for the company and could significantly increase the company's resource estimate in Q1 2015.
- Orca Gold is still flying under the radar, but an outstanding resource upgrade in early 2015 could send shares flying.
- Orca Gold announced that it has made the third and final option payment of $3 million to secure a 17% interest in the Block 14 mineral license in Sudan.
- This was expected and is a positive for the company as it secures its ownership in the deposit, which contains 1.7 million ounces of gold in resources.
- Orca Gold remains well funded and I estimate the company has $39-40 million in cash with zero debt after the payment. I think shares are a buy here.
Orca Gold: A Well-Funded Gold Explorer With Huge Upside Potential
- Orca Gold is a gold exploration company in Africa that has a very promising project with 1.7 million ounces of gold in resources.
- The company has a market cap of $60 million but has roughly $42 million in cash and no debt.
- Orca Gold has flown under the radar, but not for long. The company is led by a management team with proven success.
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