RE:RE:RE:RE:RE:$15M Raise @ $1.20 Closing Today?? Is it true??
If they're raising as much $ as the rumor says, this should be just about the last capital raise as the remaining $ to fund the drilling program would be collected from the exercise of warrants. That is good news. I totally understand your frustration. If looked at out of context and given the history of mining companies, it would be warranted. I've been invested in OCO for a long time and I can tell you that the early days were marred with promises of big brokers getting involved in financing. That never came to fruition. Those brokers, even with the ridiculous fees they charge, never came through. Oroco apparently found a group of individual investors to finance, and the discount they offered them has allowed them to raise a great deal more of money than in the early days. This in turn has completely derisked the company and allowed the stock to fly aggressively to the upside, with investors concentrating on what the deposit is truly worth instead of discounting heavily due to the risk of not raising enough $. So, overall, I'm happy with the stock action and with the company's decisions so far. Even with the current appreciation I've never been as optimistic that the price will reach at least $4, just for confirmation drilling! With the 3D IP being positive about an expansion of the resource, you're holding in your hand a sure thing till $4, and a lottery ticket to much greater wealth.