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Oroco Resource Corp V.OCO

Alternate Symbol(s):  ORRCF

Oroco Resource Corp. is a Canadian mineral exploration company. The Company is engaged in the acquisition and exploration of mineral properties in Mexico. It holds a net 85.5% interest in those central concessions that comprise 1,173 hectares (ha) (the Core Concessions) of The Santo Tomas Project, located in northwestern Mexico. It also holds an 80% interest in an additional 7,861 ha of mineral concessions surrounding and adjacent to the Core Concessions (for a total Project area of 9,034 hectares, or 22,324 acres). The Project hosts a large, outcropping porphyry copper deposit comprised of fracture-hosted and disseminated copper and molybdenum sulphides with significant gold and silver credits. Its Xochipala Property is comprised of the Celia Gene (100 ha) and the contiguous Celia Generosa (93 ha) concessions. Its Salvador Property is a 100-hectare mining concession, which lies around 25 kilometers (kms) to the west of the Xochipala Property and 30 kms west of Chilpancingo, Guerrero.


TSXV:OCO - Post by User

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Post by calicheon May 11, 2020 1:57am
291 Views
Post# 31010508

seems like everyone wants a piece of copper!

seems like everyone wants a piece of copper!

Barrick Gold on the hunt for copper deals High bullion prices place Canadian miner in strong position to diversify through acquisitions Mark Bristow says ‘there are no options off the table’, when it comes to his interest in Freeport Barrick Gold is looking to take advantage of a downturn in copper prices to make an acquisition in the sector, its chief executive Mark Bristow said, as the Canadian miner reaps the benefits of a higher gold price. “The gold price is up and the copper price is down,” Mr Bristow told the Financial Times. “So there are bound to be opportunities.”  Shares in Barrick have risen by 56 per cent this year, giving the world’s second-largest gold miner a market capitalisation of C$68bn (US$49bn) and enabling it to pay down its debt. Gold prices are up by 13 per cent year-to-date at $1,695.49 a troy ounce.  In contrast copper prices have fallen by 15 per cent, reviving speculation that Barrick might make a deal for US miner Freeport-McMoRan. Mr Bristow said “there are no options off the table”, when it came to his interest in Freeport, which owns the Grasberg mine in Indonesia, the world's largest gold mine and second-largest of copper. Recommended AnalysisHedge funds Hedge funds bet on gold as refuge from ‘unfettered’ currency printing Since taking the top job at Barrick in early 2019, Mr Bristow has been vocal about expanding into copper, which he has called a strategic metal. In particular he has expressed interest in Grasberg, which is located in Papua province, just west of Papua New Guinea, where Barrick owns the Porgera gold mine along with China’s Zijin Mining. Mr Bristow said he was keen to expand in Asia, despite a recent dispute with the government of PNG over a renewal of Porgera's license, which led Barrick and Zijin to shut the mine. “We have a very solid balance sheet now so we’ve got a lot more bench strength financially than Barrick had for a decade-and-a-half,” Mr Bristow said. “We’ve also got the management depth.”  Copper mines have longer lives than gold mines so a large copper asset would help to diversify Barrick’s production. The company has forecast steady gold production of 5m ounces per year over the next 10 years.  Recommended LexCopper Coronavirus: copper bottomed Premium “If he doesn’t do anything soon he may miss the value opportunity, this is the good window, gold prices won’t stay this high,” one banker said.  Mr Bristow said on the company’s earning call last week that there would be a “dynamic M&A” environment this year and that Barrick was “not shy” about making deals. 
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