almost there :) though the price doesnt reflect that lol
Hi roman & others
My view on current situation:
Would ignore current market activity for two reasons.
1. Last placement was only small begining to think we will see another placement shortly, posible a further 5-10mil shares to be placed would not think it would be done below .055, so price is range trading on insignificant volume at the moment, just a theory so time will tell if im off track.
2. End of June by keeping the share price low they can write down there losses for the year or smaller profits at a lower price.
So just need to get out of June & we should attempt to start moving forward again, this is the only stock I hold that Im very comfortable with even in this rough market.
Clearly games going on still with small sells droping the price up to 20% at times & then rebounding back on the same small volume.
Focus on what we know lies ahead:
Scopying study to begin Malawi exploration to begin Gold drilling results due as they come COAL aquisition aggresively being pursued BFS expected early 2009 etc...
OROPA share price has not performed as I expected to date, I really thought at minimum we would be .10-.20 range but clearly we are not, BUT oropa project performance has exceeded my expectations with the 1mil oz upgrade & has only strengthed my target of .20 - .50 range which imo is very fair considering how advanced Pungkut is & the potential to increase the resource significantly more.
I do expect ORP to start to seriously perform coming into the next 6months, theres enough attractive news to come & oropa is still valued as a early exploration company rather then a advanced explorer & very possible producer.
Its hard to give patience to stocks in this volatile market but imo ORP deserves it, with such a tight register, clearly advanced explorer & undervalued, when the move north begins ORP can move multiples higher on small volumes.
Current prices should be taken advantage of imo, very cheap entry to get set at, but this is only my view & everyone must make there own decision on that.
Lets see how July+ goes :)
DYOR!
ORP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
