London South East interviewed Orosur Mining (OMI) CEO Brad George and heard a fascinating progress report.
The Orosur Mining team are just back from South America where they have visited the new 100% owned gold exploration project in Argentina, the tin JV at Ariquemes in Brazil and the flagship Anza gold project in Columbia.
Brad gives a very interesting run down of these two projects which in itself is well worth a listen. And he indicates they are in discussions about future deals. However he also addresses the important next steps for the flagship Anza Columbian JV.
Brad says: "Our agreement with Agnico/Newmont is in the middle of the fourth or final year of the first phase, which ends September 6th. Phase 2 requires a very substantial new agreement to be written, the formal Joint Venture phase, and we will spend a few months negotiating exactly what that will look like. The sense I get is that they would like to start the process quite quickly so they can lock it into their budget going forward for the next four years. Which is $20M, so its not an insignificant amount of money. Agnico are are very happy, they see this as major project."
You can see Brad presenting and taking live Q&A at our next live Natural Resources webinar on March 8.