ignore the whistleblower? call him a downramper? if you are concerned shareholders I cant understand why you wouldn’t use this forum to send a message for our combined benefit. i guess your priorities are more to do with promoting self interest rather than the future benefit of all oropa shareholders. its disappointing but to be expected, but wont help our cause.
ill respond to your comments as i back my observations here with facts, not fiction or fantasy that seems to be in abundance elsewhere.
roguetrader im a very long term shareholder in oropa. my shares now worth mere fraction of my past investment. i don’t care that you say i have been on hotcopper just a short time or that i am a downramper or whatever, it doesn’t change the facts i present and my view that im completely frustrated with the company and the management, and its share price. and its cash position. i make no excuses for that. and i quote only facts from oropas own reports to back my posts on hotcopper. by the way ive only posted about oropa cos its my worst performer by a long way and something needs to be said about management now.
by the same argument does it make you a share ramper if you ignore the facts i put forward that clearly spells out a different view than what you push? lol? i respect your own view, but you fail to realize a few important points. i know your own investment position makes you only view the company in good terms when you post – thats a dilemma for me to, but its got beyond a joke and ive waited a long a time to sit idly by without trying to get someone to push management or replace management. i thought that things were going to happen with all the promises made earlier this year, and now im just boiling mad that the price is not gonna rise before they have to raise lots of cash and really dilute all shareholders again.
obviously you either have not looked closely enough at the current cash position or just ignored it and the huge cash burn rate. until you realize that then you are giving current management credibility that they have not earned in my view. If you think they have enough cash for a “few more months” in your words, then I think your looking at a different company to the one that spent net $837 grand in the past 3 months. the one i am looking at is called oropa and its cost me a lot of money and its not out of the woods with the way they are running things. its going backwards.
in fact i made an error on my last post, i forgot that as well as the $2mill they got from blackwoods they also raised $387grand in spp (but it seems they got some of the blackwood money in the march quarter based on there reports – total they got in june quarter from share issues etc $1.9mill).
as to your comment about oropa needing to raise substantial funds which is exactly the whole point i am trying to have you realise. think of it like this – if they need more than $1 mill which of course they do need then they have to go back to us shareholders real soon otherwise they won’t make the deadline. i reckon they need more than $3 mill, maybe much more, at the least to do drilling and bfs work based on the past drilling results and that will absolutely dilute the company and someone like a blackwoods will reap in more cheap shares. its gonna happen soon, get ready for the share dump if thats the way oropa move forward. that money doesnt include the repayment of notes either.
olympian i have no idea what you refer to about double counting the c-notes. the fact is that if the notes are not repaid at the end of the 12 months, march 2010?, there will be rights issue underwritten by holders at 1 cent (= 150 mill odd new shares) , giving them absolute control of the company. in meantime they are getting there quarterly interest payment of $40grand.
as for your comment about the boys wanting to ramp oropa first, well that has what we have all been waiting for over the past 4 or 5 months and nothing has come at all. obviously now its not gonna happen before they need to get money real quick which means extra dilution. in the meantime there cant be much activity with the project, where it should be spent.
also olympian, your maths need brushing up. even in there own notice of meeting back in march oropa confirmed that after notes total shares are 315 mill if no options exercised, since then spp has added another 15 mill = 330 mill shares, I don’t know how you can state sub 300 mill shares including notes.
so your mates know whats underground there along that 1 km of strike that has had very poor results so far, eh? pretty smart mates you have lol (do they know the lotto numbers to). by the way for your interest martabe mineralization is nothing like pungkut so your analogy is founded on nothing geological, its based only on nearology (of about 80kms lol. (maybe im not smoking the right substance eh bro lol)
i am not deceiving myself if there is gold there or not, I dont know if there is, but oropa are not doing anything to confirm it, it makes me nervous when i think they are going to dilute the hell out of us shareholders to raise funds while they earn big bucks themselves watching the share price going under.
did you say drilling the epithermal core, lol, what do you think they tried to do last year?
by the way the price of gold and npv of a scoping study aint gonna help our cause if oropa doesnt prove its got the gold, and no one believes the story, especially with this management in place.
reichman you seriously think i would buy more shares? i am so fed up with this company why would i want to support there lifestyle and waste my cash?
im just waiting for you guys to join the chorus to seek the boards replacement fast. instead i guess if you guys dispel me as downramper and ignore the facts to push your own positions, it gives me no confidence in what you state in your posts, and it doesn’t help my cause to get some professional management in the company before it loses control with its future funding. funny thing is that means you are not even helping your own cause to.
ORP Price at posting:
2.7¢ Sentiment: None Disclosure: Held
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