Ora Gold’s SEZ Lode discovery in early 2023 has been a game changer for the small junior gold explorer. Located 22km outside of Meekatharra in WA, OAU’s Crown Prince project is a shallow high-grade open pit development heading towards production mid next year. We initiate coverage on Ora Gold (OAU:ASX) with a Speculative Buy recommendation and a $0.018 Price Target. We expect Crown Prince to be a short but profitable ~2-year open pit operation for OAU that generates cash flows well in excess of its current $28M enterprise value.
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