I know 15p is cheap but I’ll have a few k profit at that point and after being £10k down at one point that will feel like winning the lottery.
Opportunity missed? I bought in to OMI at almost 12p and am not selling a penny until it gets to at least 15p which won’t be too long, it’s a bargain at this price! Did you invest in OEX in the end?
Yuri as long as you believe in the company you’re investing in then a loss on paper means nothing. AIM is always risky which is why the rewards are so big when you get it right. I bought in to OEX yesterday as I felt it was still very undervalued and I still think that so have no intention of selling! I bought in to OMI with a substantial holding, my timing was wrong and I’m now 36% down on paper. Frustrating but I have no doubt that I will be in profit in the near future so won’t sell a penny until I am. If you get it right then the profit usually far outweigh the losses as long as you’re regimented and have some sort of strategy or exit point.
The impatient will sell, those who hold won’t lose, the clever will buy at these levels and every chance it will end up blue by close, simples. Slight delay, very unlikely anything will change.
Did I see a £600k+ buy and a couple of other very large buys this morning or did I imagine that?
After giving effect to the Private Placement, Newmont Mining Corporation owns approximately 19.9% of the Company's issued and outstanding common shares on an undiluted basis. As part of the Private Placement, Newmont was granted a right to participate in future equity offerings of Orosur to maintain its equity ownership level at 19.9%
Proceeds from the Private Placement will be used for testing and advancing the Anzá Project and/or for general working capital.
Ignacio Salazar, CEO of Orosur, commented:
“After a lengthy process of evaluating potential partnerships with a number of companies, we are very pleased to have entered into this significant transaction with an industry leader like Newmont, known for its exploration track record, proprietary technology, financial strength, and its focus on leading in safety, social and environmental responsibility.
Completing the Private Placement and entering into the Exploration and Option Agreement accomplishes a number of key strategic elements for Orosur. These include strengthening the Company’s cash position and providing a well-structured deal to advance the Anzá Project.
We look forward to re-commencing exploration efforts at Anzá shortly and are excited to add the breadth of Newmont’s exploration pedigree and backing to our efforts.â€
EXPLORATION AND OPTION AGREEMENT
The Exploration and Option Agreement includes a three-phase earn-in structure allowing Newmont to earn up to a 75% ownership interest in the Anzá Project by spending a minimum of US$30.0 million in qualifying expenditures over twelve years, completing an NI 43-101 compliant feasibility study and making cash payments to Orosur equaling a total of US$4.0 million over Phases 1 and 2.
In Phase 1, Newmont may earn a 51% ownership interest by spending US$10.0 million in qualifying expenditures over four years and making cash payments to Orosur equaling a total of US$2.0 million during the first two years of the Phase 1 earn-in period. Upon Newmont’s completion of Phase 1, it may elect, in its sole discretion, to exercise its option to form a joint venture with Orosur.
In Phase 2, Newmont may elect to earn an additional 14% ownership interest in the Anzá Project by sole-funding US$20.0 million in qualifying expenditures within four years, completing an NI 43-101 compliant pre-feasibility study and making cash payments to Orosur equaling a total of US$2.0 million.
In Phase 3, Newmont may elect to earn an additional 10% ownership interest in the Anzá Project by completing an NI 43-101 compliant feasibility study within four years.
Joint Funding and Financing Option
Upon Newmont completing the Phase 3 earn-in, Orosur may elect for Newmont to solely fund all expenditures until the commencement of commercial production at the Anzá Project. If the Company elects for Newmont to do so:
Newmont’s ownership interest shall increase by 5% to 80% in the Anzá Project;
Upon the commencement of commercial production, Orosur shall commence contributing funds for adopted programs and budgets in proportion to its ownership interest or suffer dilution of its ownership interest; and
Newmont shall receive 90% of Orosur’s distribution of earnings or dividends until such time as the amounts received equal the aggregate amount of expenditures incurred by Newmont on behalf of Orosur, plus nominal interest.
PRIVATE PLACEMENT
Newmont purchased 29,213,186 common shares at a price of C$0.091 (GBP 0.054) per share for aggregate proceeds of US$2.0 million which includes the initial advance of US$0.25 million previously announced on July 10, 2018. The figures are based on CAD exchange rates of CAD$1.00:0.5922GBP and CAD$1.3292:US$1.00.
Application has been made for the new common shares to be admitted to trading on AIM. It is expected that Admission will become effective at 8.00 am (GMT) on or around September 11, 2018. If Admission is delayed, any variations to this timetable will be announced via a Regulatory Information Service.
As a result of the Private Placement, the number of common shares issued and outstanding is 146,800,091. The total number of options and warrants outstanding shall remain unchanged at 17,207,677. The common shares issued pursuant to the Private Placement are subject to a hold period
Sorry to paste all the other bits at the top too, didn’t know I’d copied that!
Hotdogy, please see below in case you haven’t read, absolutely no problem with financing now Newmont is on board, very strong position.
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Share Price: 8.50 Bid: 0.00 Ask: 0.00 Change: 0.00 (0.00%) No Movement on Orosur Mining
Spread: 0.00 Spread as %: 0.00% Open: 7.00 High: 0.00 Low: 0.00 Yesterday’s Close: 8.50
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Orosur Enters into Strategic Agreement and Closes US$2.0M Private Placement with Newmont for Exploration of Anzá Property in Colombia
Mon, 10th Sep 2018 07:00
Orosur Mining Inc. (“Orosur†or the “Companyâ€) (TSX: OMI) (AIM: OMI) today announces that it has completed a non-brokered private placement of US$2,000,000 (the “Private Placementâ€) with Newmont Mining Corporation (NYSE: NEM) and an exploration agreement with venture option (the “Exploration and Option Agreementâ€) with Newmont Colombia S.A.S., a wholly-owned subsidiary of Newmont (together with Newmont Mining Corporation, “Newmontâ€), for the Anzá exploration property (“Anzá Projectâ€) in Colombia.
ANZÃ PROJECT
The Anzá Project is located in Antioquia, Colombia, and comprises total land holdings of 207.5 km² in exploitation and exploration concessions and concession applications, covering more than a 20 km segment of the prospective Tonusco Fault.
EXPLORATION AND OPTION AGREEMENT
The Exploration and Option Agreement includes a three-phase earn-in structure allowing Newmont to earn up to a 75% ownership interest in the Anzá Project by spending a minimum of US$30.0 million in qualifying expenditures over twelve years, completing an NI 43-101 compliant feasibility study and making cash payments to Orosur equaling a total of US$4.0 million over Phases 1 and 2.
In Phase 1, Newmont may earn a 51% ownership interest by spending US$10.0 million in qualifying expenditures over four years and making cash payments to Orosur equaling a total of US$2.0 million during the first two years of the Phase 1 earn-in period. Upon Newmont’s completion of Phase 1, it may elect, in its sole discretio
Strong finish too, hopefully more of the same tomorrow.
Don’t know enough about charts or their accuracy but fundamentals speak for themselves anyway. Who knows how high this might get before December now, fundamentals are great for the company with Newmont on board and only ultimately going to be a positive outcome. Be good to see it surpass its previous highs again over the coming days and weeks.
This is more like it now, the start of it heading back towards where it should be and it’s true value realised.
It does seem like the momentum is shifting back again, tsx had a good rise and is sitting at equivalent 6.5p so hopefully the rise up will start today. An RNS end of today or Monday morning would be very welcome!
Yes how do you filter people?
What an unbelievable opportunity at this price, even the derampers were saying they would invest if it dropped to these prices, says everything really. Great company fully funded by Newmont, fundamentals haven’t changed and I won’t be selling anything until it gets to 20p. Night all.
Morning all, saw that this morning, could well have been suppressing the price. With the other couple of biggish sells yesterday the sp held up well, could be a momentum shift after yesterday now and hopefully we’ll begin to see the sp push up to where it should be as we get closer to news.
Yes, it’s very true with OMI that even with a few smallish buys the sp jumps up quite a bit. You can see that today with it going from red to blue quite quickly after a few buys popping up. When we see large sustained buys this will keep going up and up.
It’s like a lot of successful AIM companies I suppose, most people investing arrive at the party later as they wait and wait and then it opens up one morning 200% up and people jump in then causing it to shoot even higher. Some others would have got really lucky and invested before the 1st big jump up in price. It’s not really a matter of ‘if’ this will go higher it’s ‘when’ which is the million dollar question. As Mr. P says it will only be one decent RNS out of the blue that could make this go far higher very quickly.
Yes, be nice to get to 8p today and for the spread to tighten up again as it’s ridiculous.
Yes, I would hazard a guess that there are many waiting on the sidelines to see what happens before investing. This could be the start of the sustained rise now hopefully back up to nearer to 20p where it should be and then with the expected operational update a continued rise.