Oroplata Resources Inc. (OTCMKTS:ORRP): Whats Going on With This Stock?

The share price of Oroplata Resources Inc. (OTCMKTS:ORRP) took a step back after the lithium producer announced plans of a 2016 Short Work Program in Nevada.

HENDERSON, Nev., Sept. 08, 2016 (GLOBE NEWSWIRE) — Oroplata Resources, Inc. (“Oroplata” or the “Company”) (ORRP) today announced details of its planned 2016 Short Work Program at the Western Nevada Basin Lithium Project in Nevada.

“This drilling and sampling focused work program will directly examine lithium enriched tuff horizons through direct sampling across our WNB property and should generate lithium values both laterally and vertically through the project area,” commented Oroplata CEO, Craig Alford.  “This method has already been proven extremely effective at other now productive lithium brine operations, including Clayton Valley in Nevada.” 

Oroplata’s 2016 Short Work Program at the WNB Lithium Project is planned to include the re-entry of a series of currently shut-in oil wells to conduct vertical analysis of several known and potential lithium bearing brine horizons by perforation of the well casing at numerous depths.  Testing of lithium bearing brine horizons from active oil wells is also planned in various areas, if available.

Craig Alford concluded, “We expect that completing this work program in 2016 will provide us with the additional subsurface data required to generate the most detailed proprietary geologic stratigraphic model for the Western Nevada Basin area ever created.  This will be a great benefit to us as we plan the future development of the project.”

The Company anticipates releasing additional details regarding the planned 2016 Short Work Program at Western Nevada Basin Lithium Project within the next 2 weeks.

About the Western Nevada Basin (WNB) Project
The WNB Project is located within Railroad Valley, approximately 94 miles (151 kilometers) northeast of Tonopah, in Nye County, Nevada.  The project can be accessed directly from U.S. Route 6.  The Railroad Valley is one of Nevada’s largest trapped basins and is noted to hold all the necessary prerequisites for a massive Lithium Brine deposit.

The presence of Lithium in the valley was confirmed by the U.S. Geologic Surveys’ sediment sampling and Oroplata believes the WNB has the potential to host economic lithium-bearing brines in extensive subterranean aquifers beneath the valley floor. Historic and modern oil exploration and development data obtained by Oroplata indicate that favorable geologic formations and brines are present that appear to be very similar to the lithium brine deposit model of the Clayton Valley.

Clayton Valley hosts the Silver Peak lithium-brine mine, which is operated by Albemarle Corp.  Lithium Brine projects have proven to be substantially cheaper to explore and develop compared to hard rock mining alternatives; additionally, Lithium brine mining can be achieved with a minimal carbon and environmental footprint.

About Oroplata
Oroplata Resources Inc., through its wholly-owned subsidiary, Lithortech Resources Inc., is focused on becoming a substantial profitable lithium producer by the rapid development of valuable production-grade lithium brine deposits in Nevada and throughout the southwest U.S.

Original Source

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The average daily trading volume (ADTV) is the number of commodities traded per day on average over a specific time period.  Trading activity is tied to the liquidity of a stock.  If there is high average daily trading volume, the security can be moved easily and has high liquidity.  In contrast, if trading volume is low, the commodity will usually be less expensive due to the fact that people are not as eager to buy.   Oroplata Resources Inc. (OTCMKTS:ORRP)’s average trading volume is 1447700.

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OROPLATA RESOURCES INCORPORATED (ORRP) shares closed the most recent session at 0.384 moving from the previous open or $-0.021.  This is compared to the stock’s 52-week high of 2.04 and 52-week low of 0.25.

It’s important to use market capitalization (market cap) to show the size of a company because company size is a basic characteristic in which investors are interested.  Luckily, it’s easy to calculate: Market Capitalization = Number of Shares Outstanding x Price.  For example, if a company has 10 million shares selling at $100/share, it would have a market cap of $1 billion.  Currently, Oroplata Resources Inc. (OTCMKTS:ORRP)’s market cap is $21720000.

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Disclaimer: The views, opinions, and information expressed in this article are those of the authors and do not necessarily reflect the official policy or position of any company stakeholders, financial professionals, or analysts. Examples of analysis performed within this article are only examples. They should not be utilized to make stock portfolio or financial decisions as they are based only on limited and open source information. Assumptions made within the analysis are not reflective of the position of any analysts or financial professionals.

 

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