RE: RE: Cerro Prieto's PEA Soladades,
Agree with you that it would be great to get things going and see some progress around the remaining financing and actual construction of CP mine.
I had a convo w/ IR a few months back and they indicated to me that the EPCM (Sonoran) had outstanding commitments moving into the September timeframe and that they would have resource available around this time to get started. They also indicated that they expected to have assessed their various financing options at this time and should be closing the remaining financing for CP around now as well.
Lastly, one of the other factors causing delays in mine construction kick-off was the fact that the 2nd tranche of the $16M financing is dependent on a revised mine plan including the recent drilling (tighter holes) and some additional metalurgy tests.
I am expecting all of this information to start coming out in the next month or so, at which point all the main obstacles should be removed from getting Sonoran to start mine construction.
So while it my look to the naked eye that management are sitting on their hands, I personally think what they have managed to achieve to date is quite impressive.
Adding Xochipala registration to the mix has been an added bonus and really solidifies the story around where growth will come from with this company.
I know some here have indicated that they are familiar with Silvercrest (currently operating Santa Elena mine and exploring La Joya). I see Oroco as the same type of company, only a couple years behind - a lot of similiarities, from great management team, the same EPCM, same mining district and relatively low capital costs to get into production). As for your comment re: no way $22M is going to hold.. while probably true, Sonoran got Silvercrest into production under time and under budget. A rarity in this market. Here's to hoping that they have similiar success here w/ Oroco.
GLTA,
Sampo