Value Microcaps Junior Miners

[dr_airtime]

ORV.TO I bought some.

Not betting the farm here but can't argue with the $CAD 40M MC and debt-free. This was my initial thesis back in ~late 2015 but then 2016 was dissapointing. I like the good news and hoping the bottom of the gold summer doldrums was when gold touched $1200 recently.

I still don't think Bolivia has any value because it's a socialist country, small mine and management alluded to fact they only want to borrow funds from banks in Bolivia because of the repatriation risk. I think it just doesn't make any sense to shut down but not sure if they can ever repatriate cash from that country, hence, no value. Recall when they sold their US project for ~$20M we saw no debt for one quarter, and then a small debt increase the following quarter and mgmt communicated this was a drawdown only in Bolivia.

Let's see what new management can do...