Orca Gold

Website: orcagold.com
Primary ticker: TSXV:ORG
Stage of development: Development
Primary minerals: Gold
Project to promote: Block 14
Project location: Sudan
Company presentation: Click here

Live financials

Cash: C$6M
Debt: NIL

Major shareholders:
Zebra Holdings – 18%
Resolute Mining – 16%
Ross Beaty – 8.3%
Kinross Gold – 5.2%
Management Ownership – 6%

Orca Gold Inc. (TSX-V: ORG) (“Orca” or the “Company”) is a Canadian public company engaged in the exploration and development of mineral properties in East Africa. Orca is currently advancing its Block 14 Gold Project in northern Sudan towards a production decision. A recently announced Feasibility Study on the project shows an average gold production of +200,000 ounces per year for at least seven years.

Management Profile

Rick Clark, CEO

Mr. Clark has a long and highly successful track record in the mining industry including Red Back Mining Inc. where as President and CEO he led Red Back to become an intermediate gold producer. Mr. Clark successfully guided Red Back through all facets of growth including discovery, feasibility, financing and production coupled with successful corporate acquisitions culminating in the sale of Red Back to Kinross Gold Corporation in late 2010.

What is your rationale for attending 121 Mining Investment?

Seeking funding for development

What recent news would you like to highlight to investors attending?


What are your key goals for the next 3, 6 and 12 months?

3 Months:
Seeking project financing for Block 14 Gold Project

What do you think makes your company such a compelling investment?

Orca has a permitted and development-ready gold project that will produce 280Koz per year.

Analyst Insight – provided by Independent Investment Research

Orca Gold is a TSX-V-listed Canadian company engaged in the acquisition and exploration of mineral properties in Africa, where it is focused on development of its 70%-owned Block 14 Gold project in Sudan, whilst completing a Preliminary Economic Assessment on its Koné Prospect in Côte d’Ivoire.

The company’s principal asset is the Block 14 gold project, located in northern Sudan. The project hosts a current Mineral Resource Estimate for the Galat Sufar South and Wadi Doum deposits comprising an Indicated resource of 79.9Mt grading 1.30g/t Au for 3.342 Moz of gold and an Inferred resource of 18.5Mt grading 1.2g/t Au for 0.711 Moz of gold (at a cut-off grade of 0.6g/t). The project hosts a higher-grade core within both the GSS and Wadi Doum deposits and it is anticipated that this will result in the mining of higher grades in the early years of the project, significantly impacting economics.

A Feasibility Study on the project in November 2018 shows for the first seven years production is estimated at 5.8Mtpa @ 1.49g/t averaging 228,000oz Au annually, with 167,000oz Au/year for life-of-mine. Cash Costs are estimated at $689/oz for the first seven years and $707/oz for life-of-mine, with All-in Sustaining Costs (AISC) of $789/oz for the first seven years and $783/oz for life-of-mine.

After-Tax Net Present Value (NPV) at a 5% discount rate and assumed gold price of $1,250/oz is estimated at $403 million, with an After-Tax Internal Rate of Return (IRR) of 24.2%. Payback Period is estimated at 3.9 years, with Pre-Production Capital of $328 million and Sustaining Capital of $181 million.

Separately in February 2017, Orca announced a deal with Kinross Gold Corporation, whereby Orca acquired all of Kinross’ property rights and interests in the West African country of Côte d’Ivoire. Kinross owns an 8.6 % interest in Orca. The acquisition included the Morondo project, where in October 2018 Orca announced a maiden Mineral Resource Estimate for its Koné Prospect – comprising 34.1Mt grading 1.1g/t for 1.206Moz of gold at a 0.70g/t cut-off grade., over a strike length of 900m and to a maximum vertical depth of 260m.