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https://www.londonstockexchange.com/news-article/OMI/brazil-update/15287414
Please find attached an RNS just released from Orosur Mining giving an update on Brazil JV:
• JV signed with Meridian Mining on Ariquemes Tin Project in Brazil
• Company to earn 75% equity interest by investing US$3m over four years.
Orosur CEO Brad George commented:
“We are excited to have finally completed this agreement. With Anza handed over and Covid finally abating, the ability to move to a new phase of work for the Company is something we have been anticipating for some time.
“Ariquemes represents a tremendous opportunity with a huge land holding in a proven district, for one of the sector’s most important, and yet overlooked commodities.”
Seems as good a day as any to drop the RNS. Tin at a new record high $41400 per tonne. Excellent JV financials wise and huge land mass, 3000km2.
Great news , as the doctor notes Tin trading at an all time high , below is a snippet to why.
Tin futures were trading above $39,900 a tonne, not far from an all-time high of $39,960 hit on November 24th, amid low inventories and supply disruptions. The inventories in the LME-warehouses were at 2,059 tonnes, recovering from the lowest of 887 hit on November 2021, but still below of 2020 average of 5,000 tonnes. Also, measures to curb Covid's spread in Myanmar have caused shipment disruptions, restricting refined tin output in China. Meantime, the third-biggest refined tin producer, Malaysia Smelting Group, declared force majeure on deliveries in June, while Chinese tin smelters reduced the output after curbs on power consumption. .
Let’s hope this starts to reflect in the share price .
All the best ,
ARD
Let the re-rate begin this company is really going places this year, Anza handed over to Newmont and Co as well.
Brad looks to have played a blinder by dropping this good news on a Friday when there is a lack of other Companies positive news releases today to compete for investors money…..Should get nice visibility today on the LSE board etc.
https://www.mining.com/demand-to-keep-tin-price-on-a-tear-report/
Nov 2021 article. Tin prices likely to stay high for reasons outlined.
I buy tonnes of Tin per month and when I say there isn’t any believe me it’s far worse situation I’ve known in 30 years. The premiums are also mental and going higher. Good move if they can find some rich deposits
Would expect the SP to regain a range over 20p on this news, and the progress being made at APTA.
CEO finally got his act together. The start
The tin deal is significant as we are not constrained by what the majors allow us to release. Expect news flow to crank up a notch. This hopefully signals the start of the rich news flow period. Coupled with the conference call, it's an exciting place to be currently and moving forward.
Should be absolutely flying on that news, with everything else around the corner, like the 100 samples a day build up. AIM is a funny place. Patience required as always
Great news to see this get over the line!, however it is nothing unexpected , and won’t affect the share price much at all , wouldn’t be surprised to see it end red today
"I buy tonnes of Tin per month and when I say there isn’t any believe me it’s far worse situation I’ve known in 30 years"
Not quite in the situation of buying tons of tin per month, but for more than a couple of decades my business has been involved in casting low melt alloys meaning I'm very familiar with routinely buying ingots of tin. I'll second the fact that tin is experiencing some strange market action at the moment.
I'd been looking for a tin explorer/miner to invest in and this kind of happened for me simply as a consequence of having been invested here in OMI for the last few years.
The sell on news brigade, plus the traders taking their pocket money. They may well find it very difficult to buy back in as the free float remains vey low.
If you blinked you would of missed that rise oh well.
Excellent news, we moving in the right direction, albeit at a show process, share price will move up after it's into people
Good news to see the tin JV finalised, though we already knew it was just about done and dusted. Positive moves are happening and it appeals to the bigger picture. If Brad seals another JV then we should have plenty on our plate to fill the gaps between each Colombia update. Once the licenses are sorted for La Cejita and we start drilling there, a huge tenement, then we should be getting assays back thick and fast. If you look at the land mass of Apta we’re we had 5 rigs, compare it to La Cejita which must be 20x plus the size of Apta. I wonder how many Agnico will throw on there? In the meantime we could expect them to add more to Apta and/or commit some to Pupino and Pepas. Once Brad arrived in Colombia in a couple of weeks hopefully he’ll release info in regards to BLEGS, Rock / Soil Samples etc. The good times are coming, be patient.
It was expected Wolfy, but the markets mostly only react to certainties, which is why i'm a little surprised
That's the weak hands out
V true mr digit, ah well , hopefully by the afternoon the news sinks in
To me it is disappointing news. If there was such a strong likely hood of loads of tin wouldn’t Meridian have raised to small money in mining terms without giving up so much? And for us it will use up all our cash and then mean more dilution with no promise of what we’ll find in a new business. So hardly surprised at lack of great excitement. I wish Orosur could exploit its current concessions profitably before going off on a money eating tangent, but for bosses it is fun…if not shareholders
So I guess you will be selling out then Sotolo? GL
Sotolo, have you read the terms of the JV? $1m spend over 24 months. We currently have $5m in the bank… Would you much prefer months between each Colombia update with no news guaranteeing the Share price to dwindle?
Sotolo - i have the same concerns but I think it’s more about getting one foot inside the door in a very prospective area. $2m for 75% of a project to me shows more about the quality of the project and them giving it up so cheaply
Diversification is all good but I’d have preferred another Gold project. South America is crawling in it. At a £30m market cap, it’s all still about Anza. Not really surprised by the market reaction. After results we’ve had with Anza and sometimes no movement, I never expected spikey gains today. But it’s certainly not a reason to selll. $40,000 a tonne can work very well in the companies favour and let’s hope that $2m returns plenty of value.
All eyes still glued to Anza for me but this gives the company a project to create for shareholders in parallel to Colombia.
if theres one thing we can always count on here, is a negative spin on things from Sotolo lol