Analyst Comment17 Feb 2025 10:39
Orosur Mining* (OMI LN) 14p, Mkt Cap £38m – Progress at Argentina sees ownership rise to 51% as drilling looms
• Orosur provides an update on its El Pantano gold project in Argentina.
• The Company has now earned a 51% interest in the Project, having invested US$1m worth of exploration expenditure into the JV.
• Orosur will be able to earn a 100% interest in the JV, Deseado, with a further investment of US$2m over the next two years.
• Should Orosur earn the 100% interest, the original owners will retain a 2% NSR, with Orosur able to repurchase 1% for US$1m.
• Orosur has now completed base level geoscience surveys, including ground magnetics, geological mapping, and surface geochemistry over a 25km long rift structure.
• The Company has identified ‘pervasive silification, quartz veining, and geochemical anomalism’ over the land package.
• Going forward, Orosur is set to begin an IP survey to support the delineation of salified drill targets.
Conclusion: Orosur has now earned a 51% in El Pantano via the completion of necessary early stage exploration expenditure, identifying a 25km long rift structure. Further geophysics will support the delineation of drill targets, with the Company now permitted for drilling, set to take place this year.