RE:RE:RE:2022/2023 Drilling / PEA Timeline I saw the latest THC presentation on YouTube (conducted May 18 or 19), released this afternoon (May 26). I watched it twice. Some quotes that support my feedback, and other notes below. In general, good stuff here, better stuff. I think management is starting to listen to retail investors, but they need to tighten up the message, instead of the usual vague references to progress. Hold a special webinar, or release a detailed presentation specifically on drill results and forward schedule with the combined team. Tell the market clearly what you are alluding to.
@ minute 28:16
“we’ll be detailing in the next couple weeks, detailing the path forward in terms of when we think the NZ is going to be drilled completely..."
“...give some estimates in terms of how quickly we’ll get to mineral resource estimates”
If this second quote was in reference to the information Richard Lock presented on 5/24, it was a good start, but needs to be hit harder and clearer. You can't just briefly talk to one slide during one webinar and expect the market to get it. The same timeline was included in the 5/23 Field Activity Update, but again, with no critical assumptions for success, or much explanation.
I have asked management a question about this timeline and M&A strategy, and have yet to receive a response. However, in this THC presentation, Adam did give some qualification of their intentions: 1) It's clear they want an M&A exit 2) Sounds like they prefer buyout over a JV 3) Seems that they prefer an "early exit" over one that may yield a higher payout, but take more time. They want to get it while the getting is good, was my read. IMPORTANT TO NOTE THIS IS ALL MY INTERPRETATION. I think this strategy is very important, and one that has not been addressed by Oroco in enough detail IMO. Does this mean their intent is to sell in 2023 when their released timeline ends no matter what? Will they adjust strategy based on drilling results? Based on market conditions?
@ minute 28:39
“at this point it’s safe to safe that we’re probably further ahead in that process than the market realizes”
Exactly my point. The market can't know it unless Oroco tells it. Today’s Field Activity Update is a great move in this direction.
“will increase to 4 [drills] shortly”
“increase the pace of release of drill data”
Would love to see more detail on this, and the assumptions embedded in the project timeline released.
@ minute 30:36
talking about drilling progress:
“covering a great deal of ground very quickly. probably more ground than the market is currently aware of”
Again, exactly my point. You (Oroco) have to tell the market. Who else will?
@ minute 33:30ish
Clay asks a question about what’s included in original resource estimate. Adam explains the colors in the slide “Large Historically Defined Resource" that pertain to what is measured, indicated, and inferred. This is great detail for both new and existing investors. It should be part of the standard voiceover, and repeated.
@ minute 1:06:11
responding to a question about goal of defined resource size:
“i can’t give a goal at this time.”
“somewhere between that 330 M tons and 956 lM tons larger M&I resource historically defined”
Craig Dalziel gave a very clear goal of at least 500M tons in a clip released by Mariusz some time ago, because this is the minimum majors will want to see for acquisition. I’m not sure management is on the same page... I suggest they get it together on messaging to the market.
I listened to the latest THC presentation twice. A couple of quotes that support my feedback, and other notes. Some additional voice
@ minute 28:16
“we’ll be detailing in the next couple weeks, detailing the path forward in terms of when we think the NZ is going to be drilled completely”
“give some estimates in terms of how quickly we’ll get to mineral resource estimates”
@ minute 28:39
“at this point it’s safe to safe that we’re probably further ahead in that process than the market realizes”
Exactly my point. Today’s Field Activity Update is a great move in this direction.
“will increase to 4 [drills] shortly”
“increase the pace of release of drill data”
30:36
talking about drilling progress:
“covering a great deal of ground very quickly. probably more ground than the market is currently aware of”
33: 30ish
clay asks a question about what’s included in original estimate
adam explains the colors in slide “Large Historically Defined Resource of M&I&I. This is good.
1:06:11
“i can’t give a goal at this time.”
“somewhere between that 330 M tons 956 lM tons arger M&I resource historically defined”
craig dalziel gave a goal of at least 500M tons in a clip released by Mariusz. I’m not sure management is on the same page.