Oroco: A slow train wreck?

It has been a disastrous 2022 for Oroco. Infact a disastrous 2 and a half years. Although 2022 couldn’t go much worse, until I saw something on Twitter.

Most recently the company shut down drilling operations. The company publicly came out and said it would takes days not weeks for the drilling to restart. We are now entering the 4th week, investors have no updates on drilling having restarted and there is no update on what is happening.

I saw a post on Twitter by Matt Porembski, where he shared his recommendations to Oroco’s management team. I’ve talked to many investors that have had similar recommendations, although I like Matt’s recommendations I know what the outcome will be.

What struck my eye was Matt’s recommendation to “increase CEO Richard Lock’s visibility as soon as possible”. Here we have a new CEO that recently joined the company and was going to be part of the plan to help spread the Oroco story. Although since he has joined we have only heard from him once. Is something going on with the CEO role?

A reply to Matt’s recommendation asked “Good points , Q : is new CEO still on the job ??”. That seems rather peculiar. Someone with Richard’s background joins Oroco and there is lot of excitement. Even I was super excited by Richard’s background and what it means for Oroco. But you already have people questioning whether he is still with the company. It makes you wonder what investors really think of Oroco and its management team.

Personally, I know that Richard is still with Oroco, an investor had recently talked with Richard about Oroco. I just find it incredible that since the suspension of drilling the entire management team has gone into hiding. A junior mining company suspends drilling and gives no update for almost a month. The whole purpose of the company is to drill Santo Tomas to show the value of this asset. The company stops that activity and we have a pin drop silence. It just seems extremely strange that management thinks lack of update is justifiable. Clearly, investors are reading the lack of update as cause of concern.

4 responses to “Oroco: A slow train wreck?”

  1. Thanks for the update. Why do you think is the reason for the lack of feedback from the company.
    They even stopped the weekly update which I thought was a very good initiative. The lack of feedback just looks very amateurish – especially having some the right thing in the beginning and disclosing the situation.

    • not sure why mgmt has been so silent. it has created more speculation and lack of trust because of the silence.

      drilling has started now. hopefully the mgmt team will be more vocal about progress and what is happening w/ operations.

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