I have been purposefully quiet on Oroco. But I feel like I need to give credit to what is being done by one man, so I decided to share my thoughts:
- The prior leaders of the drilling program were running a program that was destined to fail.
- Richard Lock took over the helms and has delivered. He is the savior. Saving Oroco from entering the Why I Hate the Miners series.
- The drilling program has finally picked up steam. The company is delivering on the promise of frequent updates, expansion of resource, improving grade, and for once following a timeline.
- The results from North Zone has been very good. Grade, expansion, close to surface.
- South Zone is going to be even better: much bigger than North Zone, lot of expansion, and hopefully similar grades as North Zone
- Brasilles has shown copper exists and it is economical. Hopefully management drills a few more holes before the M&A picks up steam
- 2023 should be really interesting. The PEA, copper prices, increased M&A, and Richard Lock delivering for the shareholders
- Richard Lock is the savior (did I mention that?).
- China opening up from the zero-COVID is a huge catalyst for copper. Copper spot price is almost at $4 / lbs just from China doing some small openings.
- If China opens up in 2023 we will see copper spot price really move and majors will start acting on the M&A.
Oroco is really all about Richard Lock delivering. His execution has been really good. A management that puts out a clear timeline and then works on delivering on it (instead of coming up with excuses for not delivering) is a major change for Oroco. A change that should bear fruit for shareholders in 2023.