Status on Oroco RessourcesIt seems that if Goldgroup is doing well Oroco will also be imact by the shares they own et the royalties that Goldgroup must respect. It depend on how many onces they will extract in 2017...
LLIQUIDITY AND CAPITAL RESOURCES
As at February 28, 2017, the Company had working capital of $1,655,394 as compared to the year ended May 31, 2016 when the Company had working capital of $1,595,936. Cash was $1,714,322at February 28, 2017 (May 31, 2016 - $407,127). As at February 28, 2017, the Company held available for sale securities of 6,870,250 shares of Goldgroup (the “Goldgroup Shares”).
OOUTLOOK
As at April 28, 2017, the Company has as its main assets, the Xochipala Property, 6,870,250 shares of Goldgroup and approximately $1,600,000 in cash.The Company also holds a Production Royalty, which is contingent upon the number of ounces ofgold produced at Cerro Prieto and upon the monthly average price of gold being above US$1,250 per ounce in the month the gold is produced. There is no certainty that the Company will receiveany further Production Royalty payments. The Production Royalty is based on the average price
of gold in the month in which it is produced.