Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : 1 Million oz. and up. -- Ignore unavailable to you. Want to Upgrade?

To: Robert Dydo who wrote (21)	1/13/1998 11:48:00 PM
From: darra	Read Replies (1) \| Respond to of 144

Robert, I would like to make a submission for your Roll of Honor. My candidate is Oroperu Resources. The symbol is OROP and it trades on the Canadian Dealing Network. I will laundry list the qualifiers briefly. 1) Closing price today--59 cents. 2) 33.8 million shares issued. 3) 50% of 1.937 million drill indicated oz (expandable) in the Tres Cruces project, which is a JV with Pan American Silver. 4) 1 Million dollars; this is the tricky one. They probably do indeed have over 1 million cash. They raised 8.75 million last June. More interesting, however, is the Nueva Condor Miine project. They closed on 100% ownership of this operable mine in October '97. This mine has a 50 year operating history and closed in 1991 for reasons that were not related to the economics of the operation. The mine has 20 km of underground workings, fully equiped plant, lab, power, etc. plus a 450 TPD mill. This installation has been valued by Kilborn Peru at 20.7 million US. A further engineering analysis by RP Associates, of Toronto estimates a 7 year operational life span for the mine with a net cash flow per year to the company of between 1 and 2 million dollars US. This operation is being restarted as we speak. I do not find an estimate or drill indicated figure in the last 12 month news releases for reserve ounces, but I think it is safe to assume that Nueva Condor moves the net ounce credit to the company well over 1 million ounces. Regards Michael