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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: goldsheet who wrote (56905)2/24/2008 3:00:59 PM
From: pocotrader   of 78412
 
I'm holding Oro.v, whoes partnered with Barrick on the Tres Cruces project in Peru, Oro has 30% of the project that has 1.7 million inferred ounces of gold, Ive read an old report that said there may be at least 3 million ounces of gold, Oro only has 16.2 million shares outstanding and a market cap of $19.5 million, If the 3 million figure comes true ORO will have roughly about 1 million ounces of gold X $900 - $1000 an ounce, they could be worth near a billion dollars, the bad news is, Barrick is staying mum on the project so its hard to get any new info, Oro has been helpful but they have to wait to hear from Barrick for any news, the stock trades really thin so any bad news will make it very hard to get out quickly. The good news is Barrick is paying all the bills, Barrick has been there since 2003 and they are still drilling, they have a working mine 10 kms to the north called lagunas Norte that has 8 million ounces of reserves, lagunas Norte proximity should help the economics of Tres Cruces. This is a stock my gut tells me to hold so I'm holding fast, my hope is that this turns out to be a blockbuster project but if its only 3 million ounces I'll still make decent money
poco
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