I sold all my shares, here is my rant I sold all my shares over the last few days. The drill results while de-risking were disappointing considering the current valuation and high expecations.
Mariusz commented on why we shouldn’t be disappointed and you would have be delusional to think we would of got 1% outside the grade shell.
I was not expecting 1% outside the high grade shell. I was hoping for a slightly higher grade overall and for it to be decently extended and for the market to react positively on the news.
We were told after the 3dip that the resource would likely grow massively and at a higher grade.
Considering this was the “high grade”, future assays will likely be at a lower grade.
Very positive results in the future could make me look like an idiot for selling but Initial results indicate that we were too optimistic.
In retrospect there were a lot tells from the people pumping it that even they think it is overvalued.
Other than Adam and someone else buying a few thousand shares ( IMO these buys were only an attempt to pump the stock ) there has been no insider buying above $1.
The Oracle or Oroco Mariusz didn’t even participate in the last PP he organized at a substantial discount to the current share price and to the best of my knowledge has not purchased a single share over $1.
When Oroco goes down, Caliche on Twitter often says buy the dip and posts a screen shot of a brokerage account where it says “ Oroco Order Filled”. It conveniently doesn’t say the date,price, amount and looks like he just reposts that screen shot all the time.
He also posts Anon’s buys all the time but conveniently cuts out the part of the screenshot where it shows Anons sells.
If the stock was more liquid I am sure all of these people would have sold and moved on by now but they are trapped.
Mariusz alone has 2m shares, that’s like a months worth of avg volume, they can’t get out with out massive volume unless they want to tank the stock, so they continue pumping the stock hoping the liquidity comes one day, plus I think they have drank there own koolaid and now have unrealistic expectations.
Mariusz even said when the first drill results come in and this goes to $5 he will be selling (probably because he thought the liquidity would have been there and knew at that price it is way overvalued)
Here is a question for all you Mariusz followers. When your guru buys a stock for pennies, tells you to buy it for dollars (while refusing to buy it themselves for dollars) then tells you it will go 5 dollars when the drills starts turning but instead it goes 2.50 then drill results come out and it tanks further.
Do you really think he still an Oracle lol?
If he was an Oracle and knew Oroco was going to be a multi bagger over the next 1-2 years he would be buying the stock.
Instead he’s taking all the money he’s made of the PP’s and putting it into high risk tech penny stocks.
Also RCF Ambrians reports on Oroco should be taken with a grain of salt. Their predictions of takeovers are historically overly optimistic and if you look at their latest report detailing the top 5 copper projects to be bought out (that Oroco is one of). Oroco is the only project on the list that has an asterisks next to their name because RCF has a relationship with Oroco which makes them extremely bias to include them on the list.
If you blindly just drank the kool aid from these people and don’t under stand the space and why Oroco is overvalued take a look at the list of valuations of Juniors From RCF ambrians most recent report.
https://imgur.com/a/SwMKp0a
I know there are lots of variables that go into valuing a Junior but just using the most basic metric shows that Oroco is still overvalued at the current price.
For example Orocos historic resource is 2.3mt and current market cap is 410m. Los Andes copper (which was also included on RCFs list of top 5 Juniors to be bought out) has a resource of 7.7mt and market is 304m.
Even if Oroco can triple the resource to 7.7mt to the size of LA, it’s still 100m more expensive than LA.
IMO the only things that will get Oroco back above $3 is really good results coming out Brasls and/or copper breaking $5.
Both of which I think are a coin flip and I would rather just go to the casino if I want to gamble on something that’s 50/50 rather than wait forever on Oroco time.
I think the news derisked the project to the point where it will likely never go under $1 again but it might get down close to there.
GL everybody, for your sake I hope I am an idiot for selling.