Oroco Resource Corp. (OCO.V) isn’t wasting any time since winning the court ruling giving it the rights to earn an initial stake of 81% in the Santo Tomas copper porphyry project in Mexico. Considering this is one of the largest copper projects in the world (the company is awaiting an updated technical report but historical reports indicated the project already hosts 1-1.5 billion tonnes of rock at an average grade of around 0.3-0.35% copper (with a higher grade core area of a few hundred million tonnes at 0.5%), making it a project we are sure a lot of people are interested in working on.
Perhaps the engagement of Mark Stevens isn’t a surprise as the Rosemont project he used to work on shows a lot of similarities with Santo Tomas (although the latter has higher recovery results), and his expertise will be very welcome to continue to advance Santo Tomas towards a fully compliant resource estimate and a Preliminary Economic Assessment. We have met with the Oroco management numerous times to make sure we fully understand the potential of the property as well as the earn-in deals and we have been working on a back of the envelope economic model based on the inputs of the Rosemont Feasibility Study that was filed by HudBay Minerals last month.
Go to Oroco’s website
The author currently has no position in Oroco Resource Corp but plans to initiate a long position. Please read the disclaimer
