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that sounds like he has a superfan :p
what did you talk about? :)
very good volume here today...
I think tomorrow 0.06 where we will build another base to push upwards towards 0.1 in the short term
I'd say: hit it
The good thing is that with Sarissa, you will eventually regain your money - and much more (and most likely very soon now!)
They have the goods, they have the management, and now they will have to money to develop this too!
I'm still holding all my shares which I bought initially in 2007 around 0.0027!
thx for sharing!
thx, let me know what you find out, would appreciate it!
OROCO SIGNS TERM SHEET FOR FUNDING CERRO PRIETO GOLD PROJECT
VANCOUVER, British Columbia – (April 13, 2012) Oroco Resource Corp. (TSX-V: OCO) (“Oroco” or “the Company”) is pleased to announce that it has entered into a term sheet with a private, American institutional investor with regard to a CAD$3.75 million dollar convertible debenture (the “Debenture”), a US$15 million gold prepayment agreement and a US$1 million dollar cost overrun facility (the “Overrun Facility”), the net proceeds of which will be used to fund the development of the Company’s Cerro Prieto Project in Sonora State, Mexico, a proposed open pit, heap leach oxide gold mine which was the subject of a Preliminary Economic Assessment detailed in a news release by the Company on December 15, 2010.
The Debenture, which will have a term of two years and a coupon rate of 10% per annum, will be convertible into units of the Company’s equity, with each unit being comprised of one common share and one half of one share purchase warrant. Each whole warrant will entitle the holder to purchase a common share of the Company at a price of $0.40 per share for a period of two years from the date of issuance of the Debenture. Proceeds from the Debenture will be used to repay the outstanding loan from EXP T1 Ltd. in the principal amount of US$2,471,440 plus accumulated interest, and to advance the Company’s Cerro Prieto Project.
The US$15 million dollar gold pre-payment is to be satisfied by the delivery of 17,500 ounces of gold, subject to adjustment if the price of gold falls below $1,550 per oz, over a period of 27 months commencing in the 13th month after the first advance of funds under the gold pre-payment agreement (the “First Advance”). Additionally, Oroco is to grant to the lender a series of warrants entitling the lender to purchase up to 9,450 ounces of gold from Oroco at a price of US$1,550 per ounce over the 27 month period beginning 19 months after the First Advance. The First Advance will be subject to the Company raising the balance of capital, currently estimated at $5,000,000, required to complete the development of the Cerro Prieto Project. The net proceeds of the gold pre-payment, after deduction of a 3% procurement fee and reimbursement of associated expenses, will be used to develop the Cerro Prieto Project. The gold pre-payment will be secured by a security interest on the Company’s assets.
The US$1 million dollar Overrun Facility will be made available to the Company in the event that, during development of the mine at the Cerro Prieto Project, the Company requires up to an additional one million dollars to complete and commission the mine. The Facility will have a term of 3 years and will bear interest of 10% per annum. Upon the closing of the Facility, the Company will issue bonus share purchase warrants to the lender as allowed by TSX Venture policies, to a maximum of 3.3 million warrants.
The Debenture, Gold Pre-payment and Overrun Facility are subject to completion of legal documentation, receipt of regulatory approvals, including that of the TSX Venture, and conditions precedent typical of transactions of this nature.
The Company also announces that it has, with the approval of the TSX Venture, amended the terms of 1,000,000 outstanding warrants by extending their term from April 14, 2012 to October 14, 2012. There has been no change to the exercise price of $0.30 per share.
For further information, please contact:
Mr. Craig Dalziel, President and CEO
Oroco Resource Corp.
Tel: 604-688-6200
i'm a shareholder of OCO too, hopefully they get the financing soon
DPM Dundee Precious Metals strong Q4! This one should really start to trade higher...
? Increasing production and favourable metal prices delivered record results
? Chelopech and NCS projects to expand and upgrade facilities are on track for 2012 completion
? Krumovgrad Gold Project achieving key milestones and gaining momentum toward 2014 production
? Continuing positive exploration results in Bulgaria, Armenia and Serbia
? Solid financial position with $173 million in cash to support growth initiatives
http://www.dundeeprecious.com/Theme/Dundee/files/PressReleases/News%20Release%20-%20Q4%202011_v001_i865ne.pdf
i've been holding OCO for some time now, i really like the property (got lots of exploration potential), 2012 should be its year
and Adam is a great guy!
Torex Gold vs Newstrike Capital
what do you guys think? which one to buy?
good stuff from Merle, thanks for sharing
My guess is he was at the Denver Gold Show, lots of companies there
August 11, 2011
British Columbia Securities Commission Filed Via SEDAR
AMENDED
Subject: Sarissa Resources Inc.
Dear Sirs:
We advise of the following with respect to the upcoming Meeting of Security Holders for the subject issuer:
Meeting Type: Annual & Special
Record Date: August 30, 2011
Mail Date: September 27, 2011
Meeting Date: October 18, 2011
CUSIP Number ISIN
803720101 US8037201014
In accordance with applicable securities regulations we are filing this information with you in our capacity
as agent of the Corporation.
Sincerely,
Lisa Cripps
President
should get filed on sedar as well
Oroco Enters Into EPCM Agreement for Construction of Cerro Prieto Gold Mine
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2011) - Oroco Resource Corp. (TSX VENTURE:OCO)(FRANKFURT:OR6) ("Oroco" or "the Company") is pleased to announce that it has entered into an engineering, procurement and construction management agreement ("the EPCM Agreement") with Sonoran Resources, LLC ("Sonoran") for the construction of an open pit, heap leach gold mine and refinery at the Company's Cerro Prieto project in Sonora State, Mexico. Oroco obtained a positive Preliminary Economic Assessment for the Cerro Prieto Project in January, 2011, has subsequently advanced the engineering, permitting, and pre-construction for the project, and now has procured the services of Sonoran for the construction of the mine and refinery.
Under the terms of the EPCM Agreement, Sonoran will provide all necessary engineering, procurement and construction management services related to the construction of the mine and refinery through to "first-pour." In consideration for these services, the Company will pay Sonoran a monthly fee of US$260,900 to a maximum aggregate of US$3,130,800. In addition, subject to the approval of the TSX-Venture Exchange and the successful completion of a series of construction milestones, the Company intends to issue to Sonoran an aggregate total of 1,000,000 common shares of the Company and 500,000 options to purchase common shares of the Company at a price of $0.30 per share for a period of 3 years from the date of the EPCM Agreement.
Sonoran, based in Arizona, and with offices in Hermosillo, Mexico, is a construction management group with a proven track record in mine construction, including the nearby, recently completed Santa Elena mine owned by SilverCrest Mines Ltd.
Speaking of the EPCM Agreement, Oroco President Craig Dalziel states, "We are extremely pleased to have Sonoran Resources on board as our construction management group. Their recent experience and central role in bringing the Santa Elena mine into operation on schedule and under budget makes them the ideal management group for Oroco's Cerro Prieto project. We feel very fortunate to have Sonoran's considerable in-country expertise available to Oroco throughout the mine construction and initial production phases at Cerro Prieto."
Jesse Munoz, President of Sonoran states, "We are thrilled at the opportunity to work with the team at Oroco and confident in the success that we will achieve given our expertise in bringing a mine through construction and into production. This is a very attractive project from both a logistics and economics perspective."
About Sonoran
Sonoran Resources, LLC is a management group comprised of accomplished professionals experienced in every stage of mine development, including: exploration, due-diligence, permitting and construction, organizational development, human resources and training, commissioning and production start-up and reclamation. Sonoran maintains a recognized presence in both the U.S. and Mexico, headquartered in Arizona with offices in Hermosillo, Mexico. Sonoran and its subsidiaries utilize expansive strategic alliances and over 100 years of collective mining experience in both underground and surface operations within their multilingual, multi-cultural management team. Sonoran has established a proven track record in mine construction and operation.
Sonoran was the construction management group for the Santa Elena project in Sonora State, Mexico. The Sonoran team played a vital role in the construction of the project from the original ground breaking, to crusher installation, commissioning of the Merrill Crowe plant, first pour and recruitment. Sonoran's expertise and dedication to the project resulted in completing the construction at Santa Elena Mine on schedule and under budget.
More information on Sonoran Resources, LLC can be found at www.sonoranresources.com.
About Oroco
Oroco is a Canadian-based mineral exploration company with its primary focus on the accelerated development of the gold-bearing oxide zones of its Cerro Prieto Project in northern Sonora State, Mexico. In late 2010, Oroco received a positive Preliminary Economic Assessment for the Cerro Prieto project. The Cerro Prieto Project consists of the San Felix, San Francisco, Elba and Cerro Prieto concessions, totaling 2,729 ha, and the contiguous 4,224 ha Argonauta 6 concession.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
that's true, we had 2 more, but those 2 have been discarded for 2 years or so now
regarding deadmoose, you can check that on the Ontario mines government website
last year (or the year before?) they also let their claim expire, only to restake it shortly afterwards. they did that because it was cheaper to restake than to extend it
good Q2 earnings and outlook
it takes years from disovery to production... sometimes even a decade... welcome to the world of mining, get used to it :)
orvana is so incredibly undervalued now!
what's happening now is actually really good for the gold producers: revenue up because of the higher gold price, production costs down because of the lower diesel prices
consolidating, setting a base before the next run
be lucky that you can get in before the herd :)
bet Dahlman Rose is involved here
Exciting times ahead!
super find!
chart looks very similar to summer 2009 here
same style of run-up
personally I added at these levels to average down
what do you guys think about Orvana ORV lately?
Brent Cook commenting on Bayfield and BER
http://watch.bnn.ca/#clip506985
some big buys at the ask now
an EOD run would be awesome now and great for tomorrow :)
going back up 0.061
bought some more, nice entry point here imo before the run continues
I suspect $0,1 psychological level!
ChelPipe Buys Rare Earth Deposit Share
24 July 2011
Bloomberg
ChelPipe paid $115 million for 30 percent of a Siberian rare earth deposit as the maker of steel pipes seeks to secure raw materials amid competing demand from China, Japan and the United States.
"It is more like financial investment for us, but it also can secure our position in the metals which we use in the production of large-diameter pipe production," ChelPipe chairman Sergei Moiseyev said.
ChelPipe acquired the stake in Technoinvest Alliance, owner of the Zashikhinskoye deposit in the Irkutsk region that has reserves of 25 million kilograms of niobium. A plant to process the ore will be built next year with an annual capacity of 100,000 tons of the raw material, Moiseyev said.
The price of niobium, used in products from guided missiles to medical equipment, rose as much as 50 percent in China and about 16 percent in the United States and Europe last year as the Democratic Republic of Congo and neighboring nations curbed supply, Solikamsk Magnesium Plant, a Russian rare earth company, said in a report on its web site. Congo President Joseph Kabila last year banned mining in three eastern provinces for six months to root out "mafia groups" controlling the trade.
Rules backed by Apple and Intel to stop sales of minerals used in electronics from funding war in Central Africa also took effect in April this year.
Congo faces "a de-facto embargo" on rare earths, John Kanyoni, president of the mineral exporters association of the country's North Kivu region, said earlier this year.
"We see niobium prices much higher and hope to recoup our investment within three to five years," Moiseyev said.
ChelPipe faces competition for rare earth resources, with the global market likely to double by 2015 to as much as $6 billion, according to an Ernst & Young report published in April. Demand last year was about 124,000 tons, just 10,000 tons short of output, the U.S. Congressional Research Service said.
Read more: http://www.themoscowtimes.com/business/article/chelpipe-buys-rare-earth-deposit-share/441014.html#ixzz1T9UANkAD
The Moscow Times
not sure if this was posted here already