London South East kicked off September with four terrific companies presenting live on London South East on September 6. We were joined from Perth, Australia by Orosur Mining (OMI) CEO Brad George on the day they announced a stunning gold assay result from their Anza Columbia gold joint venture with Agnico/Newmont.
Brad indicated that Phase 2 JV negotiations were progressing well and the partners were heading towards an agreement. This would mean Agnico/Newmont agree to pay a minimum further 20M into developing the project over 4 years and triggers a $2M cash payment payable to OMI within 30 days.
Add this to the two low entry cost tin and gold projects OMI are pursuing in Brazil and Argentina and a strong balance sheet of around £3M, and it leaves them in very good shape said Brad.
Orosur Mining (OMI)