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Orosur Mining Share Chat (OMI)



Share Price: 3.10Bid: 2.80Ask: 3.40Change: 0.00 (0.00%)No Movement on Orosur Mining
Spread: 0.60Spread as %: 21.43%Open: 3.10High: 0.00Low: 0.00Yesterday’s Close: 3.10


Share Discussion for Orosur Mining


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ezlee87
Posts: 34
Opinion:No Opinion
Price:3.10
RE: OMI
Wed 18:40
I agree. The 20% spread will put some people off but the MMs will have to let it go at some point. Until then, we have to wait patiently for the next update. I expect the interest will return once we know the drilling plans in more detail. 5.4p+ for starts would be nice.
 
Spencer1983
Posts: 202
Premium Chat Member
Opinion:No Opinion
Price:3.10
RE: OMI
Wed 17:50
The spread is constantly circa 20%. The market makers know good news is due but they don’t know when so currently keeping their guard up. Newmont are currently surveying the land and once we have news regarding where they decide to drill the share price will explode as it’s nearly back to before the Newmont news. This company will be a great example of the impatient transferring money to the patient.
vicjain
Posts: 2,563
Opinion:Hold
Price:3.40
RE: OMI
Wed 07:39
Agree Bhargav. Positive changes happening though at a slower pace than i expected. OMI will come back to life in due course. Just a game of patience. When OMI comes out of it's coma, the sp should move back up very quickly imo
bhargav
Posts: 3,836
Opinion:No Opinion
Price:3.10
RE: OMI
Wed 06:03
No- it isn't the same as last time, the key is, we've new CFO, Chairman, confirmation of NMT interest is still intact (although I prefer to invite an appropriate party to take this forward quicker then them), cash to cover the costs and
hopefully other things gets resolved too by June 19 along with the news of drilling before that.
Webbs
Posts: 1,139
Opinion:No Opinion
Price:3.10
OMI
Tue 08:38
Isn’t that the same RNS as last time lol
Highriskstrategy
Posts: 420
Opinion:Strong Buy
Price:3.10
RE: Newmont fully committed
Tue 08:34
‘and transform the company’, another encouraging RNS.
MajorThomas1
Posts: 316
Opinion:Strong Buy
Price:3.30
Newmont fully committed
Tue 07:39
As Per RNS

“In February 2019, Orosur received US$500,000, being the first of four half yearly cash payments from Newmont Mining Corporation as part of the previously announced Exploration Agreement with Venture Option for the Anzà project in Colombia.”

And

“In March 2019, Minera Anzà (Orosur’s Colombian subsidiary), received US$240,000 from Newmont Colombia S.A.S., a subsidiary of Newmont, to fund the property maintenance costs in Colombia during the first 6 months of the exploration period (October 2018 to March 2019). This occurred after the end of the Quarter and is therefore not reflected in the Q3 19 balance sheet.“
Confirming Newmont’s commitment to Phase 1, meaning IMO we can expect the drill to start turning as part of the US$10.0 million spending commitment detailed in the strategic agreement RNS.
“In Phase 1, Newmont may earn a 51% ownership interest by spending US$10.0 million in qualifying expenditures over four years and making cash payments to Orosur equaling a total of US$2.0 million during the first two years of the Phase 1 earn-in period. Upon Newmont’s completion of Phase 1, it may elect, in its sole discretion, to exercise its option to form a joint venture with Orosur.”
Expecting good news flow over the next 9 months.
Martinrobson
Posts: 23
Opinion:No Opinion
Price:3.10
RE: Anza
Tue 06:33
I'm looking forward to ChickenDinner coming back on the board with the "Newmont on board, high grade rock samples" posts :-)
shellymarie1985
Posts: 1,178
Opinion:No Opinion
Price:3.10
Anza
Tue 06:26
Was having a think about the current situation last night and came to the conclusion that the long delay is purely down to the situation with newmont and Goldcorp once this is concluded witch shouldn’t be too far away things will get moving newmont are not paying money to omi for a laugh they have been happy to do so upto now and looking like they are going to continue to do so until they can focus on Anzá I’m also thinking that if the drilling goes well when started and newmont like what they see I think a buyout of Anzá or take over is definitely on the cards with so little shares in issue it won’t take a massive offer to take out omi at all just my thoughts but been here with ggp before and got burnt only difference is the results from Anzá so far look fantastic hopefully they continue when newmont get going with her
bhargav
Posts: 3,836
Opinion:No Opinion
Price:3.10
RE: Late RNS!
Tue 03:37
Outlook and Strategy

During the year ended May 31, 2018, the Board adopted an aggressive strategic plan to restructure its businesses, and recapitalize and transform the Company by advancing its operations in Colombia (now with Newmont as a partner), as well as finding a fair solution in Uruguay for all stakeholders and reducing its activities in Chile. The strategy remains unchanged.

In Colombia, Newmont is performing a strategic review of the Anzá project to define an exploration program in the area in cooperation with Orosur.

In Uruguay, Loryser has commenced implementing the Agreement with creditors in anticipation of ratification by the Court. The reorganisation process and the Agreement are subject to consideration by the Court and the Intervenor. The process will continue with the Court confirming that the majorities required for the Agreement were effectively obtained, to be followed by public notice of the Agreement to all interested parties. Provided there is no valid opposition, the ratification process is expected to be completed by the end of the first half of 2019. Once approved by the Court, the Agreement will be legally binding on all Loryser’s creditors and Loryser’s creditor protection status will cease together with the Intervenor’s control over Loryser.

Plus-

On April 12, 2019, Mr. Robert Schafer was formally appointed Chairman of the Board of Directors.
ezlee87
Posts: 34
Opinion:No Opinion
Price:3.10
RE: Late RNS!
15 Apr '19
Cheers SL, just looking at the RNS now
Silverlight
Posts: 5,708
Opinion:No Opinion
Price:3.10
Late RNS!
15 Apr '19
ezlee87
Posts: 34
Opinion:No Opinion
Price:3.10
RE: red again
15 Apr '19
Yeah I think it's best to hold if you can afford to do so. I've been in other shares that have turned around.. there's nothing to suggest the same won't happen here in good time.

On a positive note, the sp is up 4% today which appears to coincide with a couple of buys (one around 95k shares on lse and another around 112k on nex). Would be nice to have a blue day for a change.
primesymian
Posts: 393
Premium Chat Member
Opinion:No Opinion
Price:2.975
RE: red again
15 Apr '19
yeah i agree, could be bottom, but i've assumed that sooo many times!
thanks.
Highriskstrategy
Posts: 420
Opinion:Strong Buy
Price:2.975
RE: red again
15 Apr '19
I have no idea how low it could go, I didn’t think it could go lower than Newmont buy in price but it did. This is now around the pre Newmont announcement so I’d really like to think this is the bottom.
primesymian
Posts: 393
Premium Chat Member
Opinion:No Opinion
Price:2.975
RE: red again
15 Apr '19
thanks. been in this a few times now and may well get back in , but how low can this share go?!

gla.
Highriskstrategy
Posts: 420
Opinion:Strong Buy
Price:2.975
RE: red again
15 Apr '19
Morning all, keep holding and have faith that once drilling news comes, results will follow soon after that and then production etc. The price will look very different over the coming months/this time next year. I imagine most if not all holders of OMI are sitting on paper losses, some large and as frustrating as it is that we aren’t all in massive profit this can flip round over night and no one has lost anything until you sell. The recent update was very positive and confirms that Newmont are looking at OMI as a priority still. Have a good day and try not to think about it too much if you can! I don’t think it will be much longer before drilling news is announced.
ezlee87
Posts: 34
Opinion:No Opinion
Price:2.975
RE: red again
14 Apr '19
I've not met the ceo but I have communicated with him on a few occasions via email. I do get the impression OMI are relying heavily on NMT. Agree that this is a medium / long term stock. Prepared to hold and hope we get some good news sooner than we expect.
bhargav
Posts: 3,836
Opinion:No Opinion
Price:2.975
RE: red again
14 Apr '19
I've met our Ceo and he don't know much more then to survive on the f..k free pay check...he's trying to shaft the faithful creditors and relies on NMT to feed his children. Ex-chairman, no longer among the living tried to protect his silly bytes at the AGM last year.

As a shareholder, I do hope, the board get rid of the under performing Ceo and NMT and find a sensible partner and the team who can take the Anza Project with the potential bit forward which could pay back the debts owed to the disgruntled creditors and justify the Sp to somewhat normal levels.

I don't see Sp to go much higher levels for the unforeseen future.
ezlee87
Posts: 34
Opinion:No Opinion
Price:2.975
RE: News inbound now
14 Apr '19
Yeah I was down 70%+ at one point with GGP. I'm still invested although not much. OMI is my main focus now. Averaging around 5.1p but only after averaging down. I think there is alot of potential here.
vicjain
Posts: 2,563
Opinion:Hold
Price:2.975
RE: News inbound now
14 Apr '19
Also lost out on both of those myself ezlee87 and many others including GGP hence my decision to give up chasing shares that seem to be moving up. Failed too many times and now will just wait for OMI to do it's thing. Not worth the stress and grief of constantly losing out. I do believe we are now so close to seeing OMI come to life. We have waited many months since Newmont got on board here but our time will come.
ezlee87
Posts: 34
Opinion:No Opinion
Price:2.975
RE: News inbound now
13 Apr '19
Thanks for the link shellymarie. Now the deal is pretty much sealed with Gordcorp, hopefully NMT can focus on Anzá.

Vicjain, I know what you mean about not wanting to chase rainbows... I've done that too many times e.g. GWMO, LION.
vicjain
Posts: 2,563
Opinion:Hold
Price:2.975
RE: News inbound now
13 Apr '19
Maybe things will move ahead with omi finally. Fingers crossed.
vicjain
Posts: 2,563
Opinion:Hold
Price:2.975
RE: red again
12 Apr '19
Ironically this downtrend has allowed me to get more shares than i anticipated. The longer the wait, the more downwards pressure on the share and so i'll just buy more at lower levels. I'm confident this will come good eventually and when the sp does start responding positively, i expect a swift move back up closer to the 10p mark just for starters. With aim, my strategy is just to buy low on good potential shares such as OMI and just wait for the move back up. Won't bother trying to chase rainbows anymore.




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