Oroperu Resources, Inc. OROP (CDN) Message Board

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Gold/Mining/Energy : Oroperu Resources, Inc. OROP (CDN)

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To: ZEUS who wrote (100)	7/29/1998 3:09:00 PM
From: ZEUS	Read Replies (2) of 154

I just got off the phone with IR. She did confirm that the weather in that region (Andes) has been excessively bad this year (tremendous rainfall). Aside from that, results surrounding the Nueva Condor project are slated to come out by mid to late August. IR stated that there has been a significant increase in production with the Nuevo condor project. Another point, one that I have been hearing through my contacts deals with the Tres Crusces property. IR did indeed confirm that several major mining companies-Barrick Gold and Newmont to name a few, have and still are interested in this property. I have heard from more than one person, that Barrick did conduct their own sampling (assaying) and are very interested in the land. The admission by IR that Barrick and Newmont have indeed conducted their sampling leads me to believe that a portion or all of this property will be sold in the near future or some sort of partnership will intensify. Why? Quite simply junior mining companies do not have the capital structure to take full advantage of their properties. This is precisely why many juniors have partnerships with the big players. OROP is currently in a deficit with respect to their working capital. This means that they most probably will NOT get listed on the TSE. One of the conditions of the TSE for listing new companies, is that the company needs to have a positive working capital. OROP currently can not offer that. Therefore, this leads me to believe that some sort of transaction with a big player, like Barrick is imminent. My only concern is that Barrick can scoop up tremendous properties at bargain basement prices. When Barrick acquired Pierina from Arequipa they paid a premium back then. But keep in mind, back then the mining industry was not suffering the way it does today. This is most unfortunate because if OROP does indeed sell Tres Crusces- Will they get a fair and equitable price. From Barrick they should. But unfortunately today's prices are much lower than 2-3 years ago. We shall see! I hope to have more information regarding this soon. Cheers, ZEUS

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