Member Info for OrangeMoon

I have reviewed Element1's more conservative claims in greater detail. While he is undoubtedly knowledgeable in this sector, his assumptions warrant several important counterpoints:

Regarding the Pepas Deposit (often referred to as "the data"), the publicly available geological information describes the ore body as having no vertical extensions or significant lateral continuity beyond the current model. Specifically, the Mineral Resource Estimate (MRE) characterizes it as:

"a discrete, enclosed, fault-bounded lens (or lozenge) with no modeled extensions at depth beyond approximately 100 m and limited lateral continuity due to converging bounding faults."

This "closed-off" description reflects the limitations of the existing dataset—primarily the absence of deeper drilling. No holes have yet tested below ~100 m, so there is no data to confirm or rule out potential feeder structures or deeper extensions.

The lozenge model is a conservative representation for MRE and economic scoping purposes; it is not a definitive geological conclusion that extensions are impossible.

Should future drilling (e.g., to 150–200 m) intersect mineralization at depth, this could materially alter the current interpretation and expand the resource. In short, the "closed-off" designation is a function of data constraints and classification standards, not a final verdict precluding deeper or offset potential.

On capital expenditure (capex), Element1's figures align with a Telfer-scale underground operation, but they overlook our actual strategy: initial quarrying combined with toll treatment to minimize upfront capex. This approach significantly reduces early-stage requirements compared to a full-scale mine build. While certain costs—permitting, prefeasibility study (PFS), engineering, and water management—are unavoidable, leveraging existing infrastructure on the same license (including APTA's camp, exploration support facilities, and nearby underground operations) will help offset expenses as we progress toward production at APTA.

[Part 1]

Orosur Mining offers a compelling low-capex, high-upside opportunity in the prolific Mid-Cauca gold belt through its 100%-owned Anzá Project, featuring multiple prospects on the same licence block: Pepas, APTA, and El Cedro.

Key strengths include significant economies of scale — shared infrastructure (roads, power, water, permits, and community agreements) reduces overall development costs across the cluster, making sequential advancement more capital-efficient than standalone projects.

The strategy prioritizes quick wins starting with Pepas:

Low upfront capital (potentially ≤ US$15M if using toll milling/processing agreements).

Generates early cash flow and de-risks the project via proof-of-concept production.

Funds and informs expansion into APTA and El Cedro without restarting from zero.

As for technicalities on milling arrangements -

Trucking ore (up to ~120 km to mills like those in Segovia) is standard in the region, with good road access and reasonable costs (~US$20–40/t). High grades support profitability even at these distances.

Surface work at Pepas North (April 2025 results) highlights strong potential:

Channel sampling (continuous along exposures) returned impressive high-grade intervals, including:

105m @ 1.15 g/t Au (with peaks >5 g/t).

49m @ 2.59 g/t Au, including 10m @ 6.93 g/t Au.

Bonanza hits like 1m @ 27.23 g/t Au and multiple >10 g/t samples.

These expand the anomalous zone northward, showing epithermal-style mineralization with bonanza-grade surface expressions and untested depth potential — a separate but complementary target to the main Pepas area.

Reconnaissance drilling will be underway soon.

La Virgincita and El Pantano i'll leave out for now... but these could become company makers on their own.

I hope you can start to see why large holders including institutions see this as more than just your average exploration company.

It's not just... Pepas.

This current investment case alone is strong, with and additional $14M worth of exploration drilling underway.

There are many angles to look at stocks and shares... through the lenses of technical analysis (charting), through fundamentals, perhaps even diving into the technical aspects of those fundamentals, or even through rose-tinted glasses—but sometimes, you just need to have a little faith.

Either way... regardless of which one or multiple you choose... unless you have boots on the ground and see what our geologist(s) see, we're all only spectators analysing lagging data.

That's why the question is always asked: Do you trust our board? Do you trust the men running this company? After all, they are the ones with a lot more knowledge on the underlying assets than us and are guiding our way.

I do.

I have faith. I have faith in Brad. I have faith in Louis. Becoming a success is not just luck/faith, it's not solely skill through knowledge and experience either. It's a mix.

Just as much as we don't know what's in the ground until the drills prove up what's down there... each one of us makes up our own narrative on what lies beneath the surface.

Take note of what experienced investors say, but make sure to have your own map. Or at least as a minimum, take notes along the way.

I'm happy to hold the torch here—we're heading into some serious drilling with OMI, a larger amount than has ever been done that has guided us to our current Mcap... and it's these drills that will turn your average geologist into either a less-conductive element, or a gold magnet. Just be sure you follow the right one... Hint: he's the one with the boots on the ground, the one who has proved himself to point the drills in the right direction, the one who has told you to keep faith in the company...

Breaktwister, with all due respect, Element is not an imbecile. If you are able to digest what he is saying and break it down, you will understand more about the technicalities that will be considered—at one stage or another.

I'm not sticking up for him or saying he is correct.

My point of view and his are very different.

But you cannot call the guy an imbecile. That's just an emotional response to some things he is saying that you don't like.

If you do the research, you'll be confident in knowing that his angle—being "economies of scale"—can be reduced by APTA and further reduced, if not eliminated, by subsequent deposits in or around the region (e.g., synergies).

I've looked into the technicals as far as my interest goes, and they do not scare me. They are an interesting point.

I'm confident in my investment here. I trust the board, I do believe we are going to find more ounces of gold (Au) with our $14M capital, and I am confident OMI will become a future success.

I still don't believe he held originally (prior to his appearance here). I think he got a quick entry and subsequently sold out for a short-term trade. Holding a small amount adds to credibility other than holding nought.

I know sometimes we read messages on these boards and we become upset/emotional... but to be a successful investor, you must take all points on board, decide what is worth keeping and what we should throw away. Less emotion. More calculation.

Don't take this message the wrong way, we are on the same side. But I would rather do the work and investigate all angles of this investment case than dismiss something because of emotion.

*You'll be respected a lot more here replying without the emotional insults which often just clog up the board. I'm guilty too. But alas, let's move forward.

After taking the time to really deep-dive into Element1's posts and researching the technical aspects of mining Pepas (heap leach/toll mining and then building a full mill)—which at this point in time is not our main focus—we're an explorer with a lot of potential and a 'soon-to-be-confirmed' cash-generative asset. I'll entertain it.

Element1's economies-of-scale angle on Pepas has some substance—if we dropped tools and just spent the circa $14M on a good time in Colombia (if you know what I mean).

But the facts are:

We progressed Pepas to MRE status on a shoestring budget. We believe there are repetitions of Pepas and also a feeder zone.

We are progressing APTA (underground) to MRE this year—with the note that Brad thinks this 2.4 Moz is just the limb off something bigger.

In the second half of the year, we aim to drill El Cedro... massive proportion system, likely bulk tonnage if discovered.

We have the main licence now in a state ready for drilling at La Virgencita, which was initially Newmont's key prospect area.

We may find some value down in Argentina—but we're currently just checking the rocks (via drilling).

Providing up one of these prospects will significantly challenge the 'economies of scale' scenario that focuses only on the current Pepas MRE. And we haven't even started to drill yet—fully funded for initial phases.

With respect to capex and building full mine infrastructure—including a mill—this all changes as we prove up additional ounces. And yes, not all ounces are equal; even from a technical milling perspective, complications will come and be overcome.

Pepas is our initial high-grade (from surface) cheque-book deposit. As we move APTA to MRE status and find our other prospects stated above—these capex 'woes' become smaller and smaller.

Long-term holders see it, institutions see it... Technicals like Element1 may not see it yet (until further data is presented)... You do not have to be a technical whiz-kid in this sector to know or see the bigger picture here at OMI. We are a different setup to the usual exploration company, and we're in great hands with our BoD and where our current company stands—exploration.

Again, Element1's current take on OMI appears to focus heavily on the first deposit's MRE with economies of scale aspect, dismissing all future potential to conclude his analysis of the current MCAP.

He is a knowledgeable guy in this sector, but the emphasis on 'current data only' seems geared toward a more conservative view. His narrative will likely evolve as new results come in this year. Many here will appreciate his knowledge and input as things progress. Not to mentioned the gold bull run we're currently in permits miners to actively pursue M&A near the end of this cycle to increase resources.

As balanced investors we must acknowledge both good/bad & positive/negative points of view, analysis the context and offer up a strong rebuttle.

You'll be respected a lot more here replying wit

The more research you carry out into OMI's full portfolio, the more you will see the real potential that has been dismissed by the recent "review of data" play on our Pepas MRE. A lot of this high-quality research is carried out in the shadows, and I implore others to do the same (away from SP action).

OMI was never a single-project play — it has multiple other very interesting prospects that cannot be ignored, even at this early stage. Grouped together within the same region (some even on the same license), they could build OMI into that 1-1000 monster.

Calm and collecting here. I've done my research on the company as a whole and can see the bigger picture — and at these levels, the risk vs. reward is very reward-heavy IMO

For anyone willing to read the following excerpt on balance, I think it's a good admission of the potential here at OMI. And although many of us still do not agree with Elements figures regarding Pepas development costs Capex/Opex (depending on route), the admission that there are potential catalysts here that can materially increase the valuation should be well noted - as this is what long term OMI holders are seeing as part of the bigger picture.

Element1 on GGP Board "So I ran the numbers myself - and, at a £90m market cap - it simply does not stack up very well... Far from it. On the current data, it risks becoming a serious value trap specifically because it lacks scale (5 year mine life) - unless something genuinely material is discovered on the other licences — which, to be fair, cannot be ruled out."

The short-term price action doesn't bother me (or others) who are holding for the longer term. It should be viewed as an opportunity to collect more OMI shares—at a discount—if you're able to do so and truly believe the company will succeed (which I do).

A sub note of this post - It’s not sexy, it’s just business.

"So I ran the numbers myself - and, at a £90m market cap - it simply does not stack up very well... Far from it. On the current data, it risks becoming a serious value trap specifically because it lacks scale (5 year mine life) - unless something genuinely material is discovered on the other licences — which, to be fair, cannot be ruled out."

Element1 - This is the first time you have admitted that there could be a catalyst within OMI's other projects/licences that could materially add to the valuation... noting that their current cash balance for exploration is sufficient to cover the next 12 months - and these catalysts are near term 2-3 months.

That's the main attraction for long term OMI holders... and really... all that had to be admitted before it went hand for hand.

You were attacked mainly due to your dismissal of these potential catalysts in your analysis (referring to Pepas MRE as 'current data'), and it came across as if you were under-researched on the company as a whole.

I appreciate your knowledge in this sector, as many here do (and should), and implore you to re-assess 'the data' on further progress of these additional prospects.

No hard feelings going forward. We are all investors just trying to make our way.

Keeping in with the education theme/thread...

-Copied from Dr. Remingtons post history-

To anyone new here:

-Fully funded until 2027. $15m to throw at exploration.

-MRE for high grade from surface, Pepas, now in the bag - 1.14 Mt at 5.46 g/t Au in Indicated classification for 201,000 ounces of contained gold.

-Looking to fast track Pepas to production. Via tolling. A mere £15m capex. Now in development stage.

-Exploration potential around Pepas, more Pepas style shallow high grade deposits expected to be found.

-Apta deposit close to MRE, requires a small amount of drilling. 1-2m oz. 5g/t+. Drilling expected Q1/Q2 2026.

-El Cedro target, 1.5km2 Porphyry. High grade at surface samples. Drilling coming soon. Q1 2026.

-NEW! La Virginceta target now unlocked. 6km2 Porphyry. Thought to be the source to the whole of Anza. Q1/Q2- Mapping / sampling?

-El Pantano, Argentina. Drill rig turning. Assays due anytime. Visible Silver in the cores. Au also apparently present.

An absolute huge exploration potential here as the company pivots towards developer / producer.

I'm in a telegram group already... 'orosurminingOMI' - It's the one with Dr. Remington and long term holders.

Isn't the one you're referring to the dictatorship version that recently everyone left?...

Anyway, more than welcome to join this one Sharetrader123 👍... must be getting pretty lonely in there yourself 😉.

Viva la revolution! 🚩

Brad George (CEO and Director) and Louis Castro (Chairman and Executive Director) lead Orosur Mining Inc. (OMI) with complementary expertise that has driven recent progress.

Brad, a geoscientist with over 30 years in global exploration, development, and financing (BSc Hons Geology/Geophysics, MBA, MAIG, JORC Competent Person), brings hands-on technical and capital markets insight from roles including mining analyst in London.

Louis, a former PwC chartered accountant and SG Warburg investment banker with 30+ years in City finance, natural resources, and AIM-listed companies (including prior CFO/CEO roles in oil & gas/mining), adds deep fundraising, M&A, and corporate governance strength—plus fluent Spanish for Latin American operations.

Under their leadership, OMI successfully closed an oversubscribed brokered private placement in October 2025, raising gross proceeds of C$20 million (approximately US$14–15 million equivalent at the time)

The funds were raised to provide a multi-project runway of about 18 months for advancing exploration across the portfolio (primarily Anzá in Colombia, plus El Pantano in Argentina and general corporate purposes), rather than being earmarked for a single project - Like the Pepas scenario thats being peddled by a 'short' few.

As of February 16, 2026, the company is only about 25% into that timeline (roughly 4–5 months post-closing), leaving substantial cash and time to deliver on key milestones.

So, I'd say we're doing pretty well when you consider the bigger plan—one that's taken years to develop and far outweighs the opinions of anyone who's just shown up here in the last week, assuming we had a single project that needed to be developed into a full mine, with a clear lack of knowledge about the company as a whole.

Some of these de-rampers would make great comedians... with a part-time job at a waffle House. Waffling—both literally and figuratively.

OK, got yah... Now the ore grade is suddenly "too high" to process?

Sorry, but I need a minute for an extended laugh... hahahaha... hahahahhaa... hahaha 😆

No one is doubting your knowledge of the mining industry, Element1. I've acknowledged this multiple times, and it will be worth having you onboard when we actually begin mining IMO.

And yes, your less embellished statement (now that you've reined it in a bit and pinpointed an area that can be considered) is more accurate. So thank you for pointing that out.

However, there are 3 mines outside this immediate area that are doing quite well with mills operating above 5 g/t head grades:

Buriticá Mine (Zijin Mining): Operating since 2020. Mill head grade ~8–9 g/t Au (high-grade veins). Capacity: ~3,000–4,000 tpd. It's within ~80 km of Pepas, but as noted, likely incompatible or with no spare capacity.

Segovia Operations (Aris Mining): High-grade underground mines (Providencia, El Silencio, etc.). Reserve grade 10.7 g/t Au. Mill expanded to 3,000 tpd in 2025. Produces ~200,000 oz Au/year. ~150–170 km northeast of Pepas (beyond the 80 km trucking range).

Marmato Mine (Aris Mining): In Caldas (south of the Antioquia border). Grades ~4–6 g/t Au (upper mine areas). Mill ~1,200 tpd, expanding. ~100–120 km south of Pepas (borderline/marginally beyond 80 km).

Our main point regarding additional projects and company research still stands. Most would have sold out if Pepas was a sole play. This is the point you seem to like to push - The pepas sole play scenario... but it's our worst-case scenario option.

We expect to find more Pepas-style discoveries and a multitude of other projects that you've kindly dismissed—perhaps because they don't fit your narrative or maybe due to gaps in your knowledge/experience? At this early stage of exploration, it's still mainly about geology, and we have a lot of potential yet to be accounted for (or, to be fair, discounted).

I'm fair—I'm a large holder here, but I'm not naïve. And I'm pointing out to you that you are coming across as disingenuous because of the biggest factor your overlooking - on purpose. And skewing the narrative to fit your own.

@Element1 - It was a quick way to assess the quality of your de-ramp instead having to do it manually... you explained it quite well.

But the fact stands, it's not accurate - and you don't even deny that claim in your reply.

With respect to Pepas alone, these models have said you're 60% correct, with 40% made-up /exaggerated /inaccurate... That's what speaks volumes... The quality of your post. It sounds nice, but it's just not true.

Again, this is Pepas alone... which is only a part of the expected value creation the company is moving towards.

If you care to address the remaining potential (other than Pepas) of the company, myself and others are all ears... but of course, you wont.

Element1 - You're once again peppering this board with your imagination.

You are valuing OMI on Pepas deposit alone to fit your narrative and won’t address the other potential company making projects that we have in the pipeline - for obvious reasons.

I've also just inputted your essay into multiple AI models - Which have confirmed, you're talking out your arse.

This is the age of data - you may sound good to the naive, but when it comes down to your 'Facts' or even 'Comparisons', they let you down time and time again.

Naughty boy - How big is your CDF short btw?... you get a little more erratic when the price goes up :)

Element1: "The lack of knowledge on here is truly chilling."

Also Element1: "In fact - Mining silver in Central and South America costs more on average - than Australia..."

Which is categorically not true. Just fact checked it.

Other than it being an admission of his own falsities, deceitfulness, and envy of OMI, I can only determine the first statement is a reference to the UK weather as opposed to that of Western Australia.

Food for thought now that Pepas MRE is in the bag...

We started drilling in El Pantano in Early November 2025 - That's almost 4 months gone by since we started this campaign - I'm quite surprised how fast time has gone. 3000-4000M of drilling to be carried out to identify or prove concept (Which usually isn't that interesting for the average retail investor to get excited about).

(Taken from RNS):

"Following several years of surface field work, the Company commenced the first phase of drilling ever undertaken within the project area in early November 2025. Between 3,000-4,000m is planned across the breadth of the project area as a reconnaissance program designed to address a number of geological questions:

· Test sources of geochemical anomalism

· Assess a variety of Induced Polarisation responses

· Intersect, if possible, mineralised structures indicative of the low sulphidation epithermal model being postulated at El Pantano

· Gain understanding of the vertical variations in the system, especially in relation to the potential for fluid boiling.

In a general sense, the broad objective of the program is to determine if a mineral system is present at El Pantano, and if so, develop exploration plans for further work."

In December we received a small snippet (Picture) of diamond drill core with signification silver and some gold which possibly gives 'indications' that they have found their vertical position in terms of boiling points...

Our next RNS with respect to this Project is going to be something substantial to dive into, and we may find the original plan has been dynamic to allow us to achieve a lot more than we originally set out. Of course our geo's need to have a good look at the rocks to help interpret the right locations to drill next, maybe that means deeper, maybe that means RC drilling into an already potentially economic area... maybe it is decision between multiple economic areas... But with 4 months gone and possibly only a few more weeks until results, it's certainly and interesting time to be involved.

As many people here have been asking about the development costs for PEPA's — the truth is, we can only speculate until more work is carried out.

The main factor anchoring these costs is the high grade (5.5 g/t) starting from surface — and it's also worth noting that Pepas is in a great location, just 2 km from the highway.

Investors here are absolutely right to challenge each other on what they think these development costs might be… but the truth is, no one can figure this out alone. We all come from different backgrounds, and we can each share pieces of information so that everyone benefits. That should be a common theme among us retail investors — even (or especially) when we disagree. Being able to discuss these factors on friendly terms is important.

A few of us recently started a new Telegram group called “orosurminingOMI” (created 14.02.26). The invite is open to everyone — whether you're positive, negative, or anywhere in between — but you must be able to justify your position with context. Otherwise, feel free to take a back seat and just listen. I know a lot of people here prefer to read rather than post, and that's completely fine.

We have investors from all over the world with different levels of experience and different-sized holdings. It's not for everyone, but if you're genuinely interested and want to have some sensible debate, feel free to look it up and join.

If we were to make a camp, build a fire, dump our $14M in to keep us warm throughout the season and do no further drilling... then we can start talking about raises for Pepas.

Until then, there is a lot of potential to be uncovered, and we're already starting to see the signs of a major discovery at one of our upcoming projects (El Pantano)... Never mind our very good grades already proven at APTA.

Jerry,

Orosur currently has US$14,920,000 in cash, as reported in their recent MD&A for the quarter ended November 30 (I've been over simplifying things for easy reading). This gives them plenty of runway for 2026, with low overheads and no debt. The company plans to ramp up exploration at its key projects in Colombia (Anzá) and Argentina (El Pantano), including hiring to support multiple drilling programs as reported recently by Brad on X.

New Team Costs:

To manage the expanded work, OMI plan to hire 2 new geologists plus a small support team (field techs, logistics, etc.). Estimated full-year cost: US$650,000 – US$850,000. This includes salaries, benefits, travel, and setup—about 5% of their current cash.

Drilling and Sampling Program Costs:

The main spend will be on targeted drilling and sampling, based on post-MRE work at Anzá and follow-up at El Pantano (all-in estimates, including rigs, assays, and logistics):

Pepas North (Anzá extensions/infill): ~US$1.2 million

ANZA (mainly APTA advancement): ~US$2.0 million

El Cedro (maiden porphyry drilling): ~US$1.7 million

El Pantano (completion + follow-up): ~US$1.6 million

Total for drilling/sampling: ~US$6.5 million.

Grand Total for Team + Drilling

US$7.15 million – US$8.05 million.

This leaves US$6.9 million – US$7.8 million in cash for admin costs, permits, or extra work if results are strong.

These are realistic, conservative figures aligned with OMI's plans and industry rates in the region.

So although we are talking CAPEX for Pepas currently, the plan may all change depending on what we prove up in the mean time... and we're planning a lot of drilling... Which IS cheaper in this region of the world than in Western Australia regardless of what Element says.