OCO Share price (reposted ICYMI)Hello everyone,
I have been thinking here and although it was nice to see this run 10cents a day, it was not sustainable for long. I still think that at CAD 1.73 or so, this has been so far an amazing run. My way back original target was 2$ in August of 2022!!! Then I upped my taargets gradually to CAD 1.90 by year end 2020. I still think that if we maintain the CAD 1.70s here, and we get some news on 3DIP, this can close the year at CAD 1.90.
Next year is going to be fun. With a treasure chest of close to 25 million CAD in the bank, no debt, and G&A being paid by royalties OCO is getting, we have all the cash to drill. Please remember we also have warrants which should add another 15 million CAD at least just based on the last 2 PPs. Q1 will still see 3DIP news and results coming. Mexico is shutting down now till January 10th so dont expect much in between.
Once February hits, we should have more 3DIP results and I think that by April or so we can start MULTIPLE drills!
So in conclusion, for traders, this is a good opportunity to purchase now and sell on the news. For shorters, not so much good really now. i fear that we have done most of the selloff, maybe theres another 10cents of fall but that is not enough to risk a short position on this stock. for us long termers, we are going to hold on to the end and to the steak dinner!!!