Oroco Resource Corp V.OCO

P.P. On The Way?

[Copperking102]

Talk on the CEO board sez its on the way. Maybe 10 million @$1.80 give or take. What I don't get is why?? Adam has said plenty of times before that between the cash they have and warrants coming due, they have plenty of cash. So what changed?? Why wouldn't they wait for a couple of those BZ holes to hit. If they show 700-800 meters with 1% or better, we're a $4-5 dollar stock!! Then go out and raise $$ if you need to. This sounds like a last call for friends and family.....

[mrobpor]

I haven't heard anything in particular other than they were considering for a while to raise money this year to expand the drill program. It takes time to do that and nothing is guaranteed. That's why. There are more and less palatable ways to finance but the most important thing is how it's used. Hopefully in the ground as they have suggested. 

[LAG4]

Sell at three and buy back at $1.80. It was pretty obvious when this thing sold off the way it did the deal was going to be sub two dollors. To those that said $2.50, dream on. Nice gig if you can get it!

[jmsims2]

It's definitely trading like a PP is coming. I was initially bummed that it was coming. I thought about quite a bit this weekend and am not as disappointed. I'm applying for a mortgage and in 2 weeks my rate went from 3.55 to 3.99 percent before I could lock in. It's getting volatile out there lately, so if you can get the money to expand the drill program, then I'm fine taking it.

[MikPrecious]

The idea is to aggressively drill and not have to worry about cash at all.  They are going to drill with many this way.  Also lots of things planned.  You need cash to make it move much faster as they need to get cooking at a much faster rate.  Thus I am glad they will do it and give us a last opportunity for long term holders to grab at these levels which are more than a

[MikPrecious]

But I have no idea but know management will do what is needed at best interest.  It could be simply short seller for warrants too.   Either way steal price 

[Mhysa99]

I'll trust management's jugement but, my understanding is that we have plenty of cash on hand to fund the drill program for, at least, several months and I believe that we can all agree that the current SP is way undervalued. Why do a PP at such a low price with the resulting dilution when we are, most likely, just few drill results from a higher SP. The COVID pandemic should also have

[jwall34]

The company has cash but they also want to ramp up the drill program.  That likely means signifigant one-time expenditures (drills need to be shipped, crews need to be hired and housed, infrastructure needs to be in place) as well as accelerating the cash burn rate.  This is good for investors because bigger drill program = shortened timeline for drilling = quicker buyout.  But even

[LAG4]

The plan all along was to have a large scale drill program utilizing as many as 5, 6 or even 7 drills with the funds in place with possible a small raise to carry it through to the completion. And no raising at 1.80 is not the same as raising at 3.00 where we were holding strong pending early drilling results till this Q1 PP came up. 1.80 is good if your in on the deal but it obviously hasn't

[FrozenInOntario]

Why to they need to buy the drills and operate themselves ?  Typically, you hire drillers like MDI do that that stuff.   Is it to save a few bucks and if so, why take the risk to have your drills stuck at customs ?  Furthermore, if they need to train green crews, they will not save any time. GLTA

[coppermonster]

they only bought 1 rig the one for brasiles which needed to be specialized. Rig 1 and 2 are contracted and so will any future rigs. They are not buying more rigs.

[FrozenInOntario]

Thanks for the info Copper.  If I may, why did the Brasiles needed to be specialized ?   As they are talking about adding more rigs to the property, a contract should already have been signed with a reputable driller and mobilization dates set ?  Of course, there could be lots of rigs/crews  available on short notice in Mexico, which do not appear to be the case in NA