n response to the Q "how long will it take for the next..."In response to the question "how long will it take for the next phase to begin" I suggest that OCO has been through a few phases already and seen a consistent valuation lift at each, and is currently poised to transition - and the clear accumulation of shares taking place is evidence of this - to another value generation phase.
At the point that registration and exercise of the Altamura option take place, I expect we'll see the "big boys" start to move on the company. Share price will rise.
Funding will follow - probably already being looked at by big funding sources - and it'll start to be valued based on the expectation that confirmation of historical work will predictably lead to a compliant resource of size, and that drilling will start to fully delineate how big ST really is and how much better the grade will get. Share price will rise.
Keep in mind, with the incomplete nature of the old drilling, the lack of data, and the widely spaced drill holes in this case, causes estimated grade to retreat to lower figures. Geostatistics is always cautious. But as those holes tighten up the grade rises. Predicatbly. And, share price will rise.
The original arbitrage here was between the discounted value based on lack of legal certainty and certainty of timing, and the higher value when legal and timing certainty were achieved. We're partway only to realizing the goal of higher value based on legal/timing certainty. Registration and acquisition will complete the arbitrage opportunity as prices rise after that takes place.
The next arbitrage is between the value given to historical resources and current and there's a pretty predictable valuation gain there as well. Share price will rise.
And after that, it's the growth of the resource - again, pretty predictable. Share price will rise.
Final stage.....The acquisition of the company by a major. There aren't many of these left, most were bought in the last copper cycle and I expect the next cycle will see everything remaining get bought. Again, pretty predictable and another share price rise.