Welcome to our dedicated page for Oroco Resource news (Ticker: ORRCF), a resource for investors and traders seeking the latest updates and insights on Oroco Resource stock.
Oroco Resource Corp. reports developments tied to advancing the Santo Tomás porphyry copper project in northwestern Mexico. Company news commonly covers diamond drilling, mineral-resource classification work, Pre-Feasibility Study programs, baseline environmental and permitting work, and project infrastructure context, including access to port, highway, rail, power and natural gas corridors.
Oroco updates also include capital-structure actions, financing proceeds directed toward project work and general working capital, shareholder and securities matters, and governance changes affecting senior leadership and board oversight.
Oroco Resource Corp. (OTC: ORRCF) announced the issuance of 6,850,000 incentive stock options at an exercise price of $2.05 per share, pending TSX Venture Exchange approval. Of these, 3,425,000 were allocated to officers and directors. The company is also canceling 4,475,000 options, resulting in 11,757,000 options outstanding, which is 57% of the allowable total. Oroco holds a 73.2% interest in the Santo Tomas Project in Mexico, with the potential to increase this to 85.5% through a CAD$30 million investment, encompassing significant copper resources.
Oroco Resource Corp. (OTC: ORRCF) has announced positive assay results from its drilling campaign at the Santo Tomas property in Mexico. The company has received results for Holes N009 to N012, totaling 8,633 m of drilling. Notable findings include Hole N010, which returned 311.0 m of 0.42% Copper Equivalent, while Hole N008 yielded 328.3 m of 0.45% Copper Equivalent. The drilling confirms good grade Cu-Mo-Au mineralization, supporting ongoing exploration targeting untested areas in the North Zone.
Oroco Resource Corp. (OTC: ORRCF) has appointed Mr. Richard Lock as its new Chief Executive Officer, effective April 1, 2022. Lock brings extensive experience in leading major mining projects globally, having previously served in key roles at PolyMet Mining Corp. and Arizona Mining Inc. He will also join the Board of Directors. Alongside this leadership change, the company granted Mr. Lock stock options totaling 600,000 shares at an exercise price of $2.05. Oroco holds a 73.2% interest in the Santo Tomas Project, with potential plans to increase this stake to 85.5% through additional investment.
Oroco Resource Corp. (OTC: ORRCF) has successfully closed the second tranche of a non-brokered private placement, issuing 2,653,811 units at $1.70 each, raising approximately $4.51 million. This adds to the first tranche, totaling gross proceeds of $18.2 million from 10,708,696 units. The funds will support exploration at the Santo Tomas Project and general operations. The issued shares will be subject to a hold period until July 26, 2022. Finder's fees totaling $182,000 in cash and 25,000 shares have been paid to associated firms.
Oroco Resource Corp. (OTC: ORRCF) has announced the closing of the first tranche of its non-brokered private placement, issuing 8,054,885 units at $1.70 per unit, raising $13.7 million for its Santo Tomas Project. Each unit includes a common share and a purchase warrant, valid for 24 months at $2.40 per share. The funds will be allocated for exploration, acquisitions, and working capital. A second tranche is anticipated. Finder’s fees included cash and warrants, with a total value of $373,724. All shares are subject to a hold period expiring July 22, 2022.
Oroco Resource Corp. (OTC: ORRCF) has announced an increase in its non-brokered private placement from 8 million to 10.5 million units at $1.70 per unit due to strong investor demand. Each unit consists of one common share and one warrant, allowing the purchase of additional shares at $2.40 for 24 months. The Company holds a 73.2% interest in the Santo Tomas Project in Mexico, with the potential to increase to 85.5% through a $30 million investment. The project area encompasses 22,192 acres and features a historical copper porphyry deposit, previously explored between 1968 and 1994.
Oroco Resource Corp. (ORRCF) announced the oversubscription of its private placement offering on March 10, 2022, ceasing new subscriptions. The Company holds a 73.2% interest in the Core Concessions of the Santo Tomas Project in Mexico, with potential to increase to 85.5% through a CAD$30 million investment. The project area spans 22,192 acres and features a significant copper porphyry deposit. The Santo Tomas Project is well-located near transport infrastructure, including proximity to the Pacific port at Topolobampo.
Oroco Resource Corp. (OTC: ORRCF) announced a private placement aiming to raise up to $13.6 million by selling 8 million units at $1.70 each. Each unit includes one common share and a warrant priced at $2.40 for 24 months. Proceeds will fund the Santo Tomas Project exploration and general working capital. Closing is expected on March 15, 2022, pending regulatory approvals. The securities will not be offered in the U.S. The company holds a net 73.2% interest in the project.
Oroco Resource Corp. (OTC: ORRCF) announced promising initial assay results from its drilling campaign at the Santo Tomas property in Mexico. Eight drill holes have been completed, confirming historical copper grades and geological models. The first three holes returned significant copper intersections, with grades up to 0.39% Cu over 255m. Additionally, elevated molybdenum, gold, and silver were noted, contributing to copper equivalent grades. The results support further exploration and confirm the potential of the North Zone deposit.