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Spencer- According to Jan RNS the info published is:
The re-organisation process has been ongoing in Uruguay since June 2018. In August 2018, the Company placed its San Gregorio mining operations under care and maintenance. On December 18, 2018, the Company announced Loryser had reached a payment plan with its creditors (currently signed by approximately 70% of creditors, by value). This agreement contemplates that net proceeds from the sale of Loryser’s assets in Uruguay together with the issuance of 10 million common shares of Orosur shall fully satisfy all amounts owing to Loryser’s creditors as well as provide funds for Loryser to conduct this process and close operation responsibly. Loryser would manage the process, to be completed within two years. The issuance of common shares of Orosur is subject to approval of the Toronto Stock Exchange. The Agreement is now subject to consideration by the Court and the Intervenor, and normal procedures for approval, like public notice, which the Company expects to conclude in the first half of 2019. Once approved by the Court, the Agreement will be legally binding for all the creditors and Loryser’s creditor protection status will cease together with Intervenor’s control over Loryser.
No Sp is disclosed and it is still subject to Court/ TSX approval. Please drop an email to our Ceo regarding this and the update of the major share holders page query. That should give you the best answer.
Webbs- Did you wrote to him about the minimum work agreement? Or are you here for p* take. The current is low because of Uruguay settlement challenge and awaiting for NM action plan on ground imo.
My point is, unless you don't query directly with the Ceo/ board you won't get to the bottom of it. Lets see what tomorrow brings.
When the creditors receive their shares newmont and the rest of the shareholders will have to top up to keep their percentages unless they already have that’s why the updated shareholders on site wasn’t up too date and would explain why the share price is around this low price.
Looking at my specific chart specs, I don't want to analyse much in advance, but, if Sp gradually moves up and closes above 5p next week or so then we're looking at bigger bounce back (even before the news)...more like a fold or more over a few days/ weeks. Positive news can only fuel/ sustain it further. I'll disclose the details when/ if it comes to that.
"share price will reflect the value"...This is the key thing. Once Uruguay is sorted and Newmont start showing what they have found how high will the sp go????. Must be many multiples imo. That is why it is better to get in at the bottom when interest/sentiment is so low, and just wait for the re rate which will be very explosive imo... The sp is at the mercy of the shorters etc at the moment imo as positive news has been lacking here for so long but that will change very soon in a big way.
Big doses, more like induce anesthesia :) Here is another reminder from our Ceo- Gold is in uptrend and hope Uruguay matter resolves soon and Newmont speeds it up to restore the sentiment and consumer confidence. Hope to hear any explosive news from you soon.
Our Ceo replied- Thanks Bhargav. Agreed. Working on all that. We have to deliver the plan and share price will reflect the value.
All the signs look good for a re bound and re rate of the sp soon imo. Uruguay has been a big anchor on the sp for a very long time, however this is getting so close to a positive conclusion after which the sp should really start to move back up as uncertainty and doubt is removed regarding Uruguay. Patience has been needed in very big doses but this should pay off very well in due course.
Agree. Reminder of what our Ceo said a few days back- If there is no opposition, public notice will be over soon. If there is opposition or any admin consideration , it may drag a bit longer. That is why we did not want to be too specific. Once it is ratified, we request TSX to issue the shares. It should also be quick.
2 weeks since the notice was announced, so hopefully some update soon.
Don't normally take much notice of British bulls but maybe their buy signal was a reason for the rise like their sell signal previously resulted in the drop over the last few days. At this time seems the sp is easy to manipulate. Some positive news from Omi/Newmont should provide a stronger base for the sp in time
Mainly buys showing today with only a couple of trades showing on NEX. No rhyme or reason for the stronger positive day today as far as i can see but just shows how the sp can change all of a sudden. So risky trying to trade this share as it easy to get caught out. Hence why i just keep holding and topping up when i can and looking at the longer term picture. Expecting the sp to be many multiples of the present sp as further news develops here.
Noob- Its not chinese whispers, we have observed number of times the ramper gang take the charge on any near news opp in anticipation and disappear, this morning has seen a few buys again out of no where without news, a pattern that has been repeated here many times since Oct 18.
Ek bought 1m shares and published an article at 3.40p and the herd took it to 7.75 within day or two.
About your other view on OMI- I agree to its core.
Where does all this EK theory come from? A single article on the net and all of a sudden chinese whispers. It remains a fact that this share is undervalued given the resources available to Orosur and the lifeline of finance provided from Newmount.
The company has a proven track record going back some 30 odd years. It is not without it's outstanding issues and delays but the opportunity remains real. Look at SRB with Coringa and how quick they have forecast actually starting to pull the gold out of the ground. Similar geography to Anza and with Newmount backing them - it speaks for itself.
As for the forest protection order - this is Columbia and can only benefit the country financially as long as they come up with decent proposals to mitigate the damage to the environment. I'm sure a large company like Newmount has had to get around things like this many times before so can only bring experience and knowledge to the table.