By Malcolm Shaw |
April 22, 2020
Disclosure: The following represents my opinions only. I am not receiving any compensation for writing this article, nor does Hydra Capital have any business relationship with companies mentioned in this post. I am long ORO.V
Something a little different this time. I've been spending a lot of time on golds lately and have attached a summary on a company called New OroPeru (ORO.V, last at $0.95) below that can be downloaded in PDF format. The company released a corporate update today that really reinforces my views of this story. The company also produced a corporate presentation, which is the first I've ever seen from them (and I've been following this for six or seven years). [urcr_restrict]I've written this summary while gathering up information that was scattered across more than twenty years of project history, so I think that my understanding of the story is fairly unique to the market. This company has been completely off the radar for years.
Why should this illiquid relic from the past be dusted off and examined now? That's what I get into in the note below. In short, ORO's Tres Cruces project is more than three million ounces, trading at US$4/ounce of gold in the ground, 10 kilometres from a Barrick operation in Peru that is out of oxide ore; and Barrick has an option agreement on this asset (which includes an oxide gold cap) which expires at the end of this year. If that sounds interesting then read on...
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