Orvana Minerals Corp T.ORV

example of cost to drill in Argentina

[JUANTOTHESTARS2]

ATX NI-43-101

according to this document 05-2813-03 – ATEX Resources Inc.
Independent Technical Report for the Valeriano Copper-Gold Project, Atacama Region, Chile

parallel with exploration drilling in the second field season. (Oct 2024 – June 2025).
Table ES- ii: Projected Project Costs
Description Total Cost ($US)
Camp and site maintenance $2,400,000
Exploration and drilling $61,900,000
Engineering $2,600,000
Contingency (~15%) $9,675,000
Outstanding Project Payments 9,750,000
Total (2-year program) $83,925,000

so not pocket change no wonder they are holding off drilling until they get a good idea of the area

[Larry60]

Dont compare this to ATEX.  THey have a much more defined and valuable resource.  More importantly, they have not sat on their hands for years - instead they keep progressign and the massive program they have potentially planned for the next 2 years is refective of that.  So is their market cap at 10x ORVs.  Their management continues to work hard and create value.   

[greendayyyy]

Totally agree with you Larry. They have been looking for funding for Bolivia since 2019. They announced the same old news again this week. If this project was really profitable they could easily find financing and get it up and running again. The problem with this company is that they are unable to create shareholder value.

[Larry60]

i dont think they have been looking for funding since 2019.  That would mean they were doing their jobs imho!!!!! No one, imho, wanted to take any risks.  Why would they if they get paid millions for doing nothing...........or, even worse, actively  destroying shareholder value. It looks like around 2 years ago they brought up financing as an excuse for yet another delay. 

[Thales12]

Why would Orv owners would want to do the financing when the actual goal is to run Orv to the ground and make it private? 

[JUANTOTHESTARS2]

ATX will dilute the stock as they need 100 million to keep drilling the area for next 2 years. let them do all the field work for us as Taguas is just 10 km away ATX property