Oroco Resources has come a long way in 2021. Coming out of the legal victory, the expectation was management would now have control over the asset and the operations. For many years the legal battle had hampered the management’s ability to do anything on the asset. The victory in the legal battles and the registration being cleared was supposed to have cleared up management’s time to focus on drilling and proving the resource.
We all know 2020 was hit by COVID. 2021 has been a recovery year and things slowly started to open up. Oroco started drilling on the asset but not much has happened in 2021 for the company. The drilling has been extremely poorly executed. Delays in all areas of drilling has been experienced. The slow opening from COVID had some hand in this but all blame cannot be placed on COVID. The execution of drilling has been plagued with delays and many mishaps.
Personally, I’ve started to trim my position in the company. My plan is not to sell a substantial size of my holdings, but I’m looking to sell instead of buy Oroco. I still like the asset and the upside is huge, the poor execution by management has got me looking elsewhere.
9 responses to “Oroco Resources: Updated thoughts”
Wow. That mean you have found s/t better. Good for you
Great move with emerita etc!
Can you mention some specific examples of poor execution on the drill program. Thanks
There are multiple instances but the main point is this drilling has been going on for 3+ months. They still don’t have any update on drilling results. It just seems absurd for a hole that is less than 1,000 ft deep.
They have drilled 10 holes so far each 3,000ft+ long! Assay labs are backed up. Takes 6-10 weeks to get assays back.
Drilling has been a tremendous success if you follow Adam’s updates on THC. The only unfortunate delay has been rig #3 for Brasiles which was held up in customs. Annoying but not a big deal.
you are right in terms of the depth. i was thinking of another copper company and how deep they are drilling.
If you where thinking of another copper company in terms of their progress, can you clarify how you think Oroco is not executing well? That is, what is within their control where they have failed in your opinion.
Have you researched QC Copper? It’s in a better jurisdiction (Canada) and drilling results have been good with a very small market cap.
unless you can come up with some specifics other than its taking longer than you feel it should, it appears you are just impatient. Not a good look. We all want results, most of us have our chips and want to cash in – not add. If you want to complain about something mention the slow start up, took weeks to get a drill turning – but they were setting up for a long term drill program so I guess they wanted to do it right. The copper isn’t going anywhere mate, the labs are backed up just like everything else on the planet. Won’t be long now, great pic on twitter of the core.
well done Paras, all the best!
I agree that the delays with IP survey, Aeromag and drills have been frustrating – a few of them beyond their control. It has been a very slow year with Brasiles results delayed to Q1 next year, completely unexpected..
hopefully, they do put out the NZ assay results by this year end – it would be a big letdown for me if they don’t..
Anyways, we are closer to the end – hopefully, the newsflow is better going forward.