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Ellis Martin Report: Cantor Fitzgerald Initiates Coverage for Oroco Resource Corp. (ORRCF) with a $1.50 BUY Rating - Santo Tomas Copper Project
Malibu, CA, United States (ABN Newswire) - Join Ellis Martin for a conversation with Adam Smith, ...
About this update from Oroco Resources Corp.
[{"type":"text","content":"Ellis Martin Report: Cantor Fitzgerald Initiates Coverage for Oroco Resource Corp. (ORRCF) with a $1.50 BUY Rating - Santo Tomas Copper Project\n \n Malibu, CA, United States (ABN Newswire) - Join Ellis Martin for a conversation with Adam Smith, VP of Corporate Development of Oroco Resource Corp. (CVE:OCO) (OTCMKTS:ORRCF) as Cantor Fitzgerald initiates coverage with a BUY rating and a $1.50 target price highlighting an 8.6B lb copper equivalent resource at the Santo Tomas project in Mexico.\n \n \n \"Attractive Copper Project in Mexico - Well Aligned with Critical Metals Strategy\"\n \n \n Cantor Fitzgerald is initiating coverage of Oroco Resource Corp. with a BUY rating and $1.50/shr target price. Oroco is a mineral exploration company with an experienced team advancing its Santo Tomas Copper Project in Mexico. The current resource estimate, released in May 2023, showed a total of 8.6 Blb of copper equivalent (CuEq) in the Indicated & Inferred categories with an average grade of 0.36% CuEq and the deposit remains open with significant expansion potential. An upcoming preliminary economic assessment (PEA) is expected to yield attractive economics benefitting from the deposit's favourable geometry and location in a supportive jurisdiction with good infrastructure. The stock is attractive trading at just over US$0.01/lb vs peers at US$0.03/lb with key catalysts ahead.\n \n \n VALUATION\n \n \n The $1.50/shr target price is based on EV/Resource multiples of US$0.03/lb CuEq based on the current resource estimate of 8.6 Blb of CuEq in all categories.\n \n \n INVESTMENT HIGHLIGHTS\n \n \n Large Copper Resource: The Santo Tomas Copper Project is one of the largest undeveloped copper projects in North America with an open pit resource estimate outlining 8.6 Blb copper equivalent.\n \n \n Exploration Upside: Mineralization remains open to the north and south, with clear potential for further expansion of the resource outside the current economic pit shell.\n \n \n PEA Underway: A preliminary economic assessment (PEA) is underway and on track for completion in H2/23. We see potential for an NPV8% in the US$1.7 B range.\n \n \n To listen to the Interview, please visit:\n \n https://www.abnnewswire.net/lnk/6LR9G3Y4\n \n \n \n \n \n About Oroco Resource Corp:\n \n \n \n Oroco Resource Corporation (CVE:OCO) (OTCMKTS:ORRCF), founded in 200...