RE: RE: RE: RE: Corporate UpdateI have been accumulating at current prices because by all accounts this stock is at give away prices. What is hurting the stock is the current market and the lack of news. I keep on asking myself why am I buying and the following are the facts that keep me sane, just about:
- Cope and Co have a decent track record (ORKO). They know how to spot decent projects.
- The current market cap of ~$15m leaves massive scope for share price appreciation. This share price hardly reflects the 1million ounes of gold already confirmed at Barsele no mind any increase in this grade up to 2million, nor the massive potential of the Coneto project which had the big boys falling over themselves to partner with ORKO. It's early days but OREX believe Coneto has every chance of being as big as La Preciosa (larger stake with more veins).
- The Coneto JV with Fresnillo is a massive endorsement of management.
- Mining stock prices do not reflect the current price of gold and silver, with small cap miners currently the least loved.
- Last but by no means least I have not been able to identify one single piece of negative news in relation to the management, it's projects and prospepcts. All miners are speculative but the risk/reward for ORKO is IMHO a no brainer.
- Their RSI has fallen below 30, so they are way oversold. Would not be surprised if the MM is trying to lower the price to shake out any weak positions, especially if you believe that news is on the way.
Currently ORKO are being priced like a company that has:
- no track record
- no 43-101
- no JV
- no sampling program due until next summer
It is hard to watch the share price continue to fall but this stock won't remain hidden for too long.
Now where's that news Gary. Good luck to all.