Oroco Resource Corp ORRCF

Primary Symbol: V.OCO

Metals & Mining Gold

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.

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Oroco Resource Corp > Teck and Agnico-Eagle Form JV @ San Nicolas

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Comment by Copperking102on Sep 16, 2022 9:18pm

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Post# 34968504

RE:Teck and Agnico-Eagle Form JV @ San Nicolas

Transaction Highlights

Agnico Eagle will subscribe for US$580 million of MSN shares, giving Agnico Eagle a 50% interest in MSN. The subscription proceeds received from Agnico Eagle will be used by MSN to fund the first US$580 million of post-closing costs with subsequent funding to be contributed according to each partner's ownership percentage. Agnico Eagle's contributions will be made as study and development costs are incurred – there is no up-front payment from Agnico Eagle
The US$580 million share subscription implies a notional US$290 million acquisition cost to Agnico Eagle for 50% of the San Nicols project plus the contribution by Agnico Eagle of 50% of the first US$580 million of project costs for its own account
Agnico Eagle's funding in the first two years is expected to be approximately US$50 million
Establishes a 50/50 joint venture between two Canadian-based global mining leaders each with demonstrated track record of successful joint operations
Governance arrangements with equal representation from Teck and Agnico Eagle, to leverage and implement each shareholder's skillsets
Agnico Eagle to be deemed to be a 50% shareholder in MSN for governance purposes upon closing of the Transaction, which is expected in the first half of 2023