Member Info for Professor1

Meant to say " as Portfolio Improvement"

Newmont press release under PORTFOLIO IMPROVEMENTS " expanded regional exploration activities with an investment in Orosur Mining ". The key to note the investment is regarded by Newmont's Portfolio Improvement.

The fact remains that majors have underinvested in exploration during the bear period and new big finds are not happening. Reserves are running low and the gold price is bound to increase. Majors would rather acquire a junior exploration company with good potential and I think that Omi sits in that category.

Hi Ageos Such a pleasure to read your highly informative posts. Many thanks for this.

Hi Ageos That was very useful technical stuff. Please keep posting and thanks very much.

Forgot to add - or else get reported

Hi MP I believe so. Also, on this board, a post yesterday by Chicken at 11.09 appears completely misleading for investors. He stated " Also if Newmont do not like what they see or find they will walk after THEIR 4 MONTHS SELL OUT CLAUSE ". This gives a wrong and misleading view as if there was such a clause in an Agreement with Orosur which is simply not the case. Chicken needs to clarify here.

Message posted by mrblueface on ADVFN: " I've received a response from my email to Orosur from Ryan Cohen Vice President, Corporate Development regarding the accusations by trolls on here and though I can't discuss the contents I have to say I'm very impressed from the response. Rarely does a company take effort to respond to shareholders ".

Hi MP Grateful if you can please point me to where Chicken is getting this 4 month from. Thanks.

Hi Chicken Please can you advise which document refers to the 4 month clause. Is there a link to that doc?

Is there a link to a detailed document please?

Hi Annikins And that is the reason why Newmont were so quick to jump in.

Hi Chicken It appears that you have not read the document issued by Orosur in September and the financial statements. 1. The creditor protection was sought so that there was no hindrance to Omi entering into all future transactions. This included it entering into negotiations with Newmont. 2. Loryser could not make a swift transition to Veta A, which incidently lies within 100 kilometres long Greenstone Belt. 3.Loryser striving to get a fair and balanced outcome for all parties " with a view to EXITING CREDITOR PROTECTION QUICKLY AND EFFECTIVELY". 4. Once 3 above is carried out, they will target the greenstone belt and who is to say Newmont will not participate there as well. 5. As per latest financial statements, certain unsecured creditors are not included in the Statement " on the basis that LORYSER IS NOT GOING TO BE LIQUIDATED".

Its actually true that buying into fear could reap rewards but require guts. It appears that people selling have failed to see through the potential of Omi's ANZA projects even with the high grade drill results at APTA that other juniors would be envy of. Such grade results are very rarely heard of. Even more so, it appears that people selling have failed to recognise and understand that one of best way to identify any junior's potential is when a large miner takes interest in the junior and actually invests in it - most juniors seeing Newmont invest in Omi can only dream of that. One only needs to look at Newmont history since its beginning and check out that it has made investments / acquisitions in only a handful of lucky juniors - AND Omi is one of those lucky ones.

Hi Yuri The way I look at it is the grades from drilling at APTA are significant which is why Newmont arrived despite Omi's issues in Uruguay. If for instance, Omi finds that the resource is mere 500000 ounces and we know Newmont are only interested in 5m plus ounces and they walk, in my opinion, Omi should be able to raise finance. At average annual production rates of say 25000 ounces, it will take them 20 years to mine this amount of resource. Not sue if others have any views which would be welcome. That said, I assume you have diversified.

Hi Yuri Please note that the leased land is where the plant (presumably the crusher / processor) is located. But this could still have value.

Hi Yuri1 I did look into this. Note 11, sub-note (1) states that the plant is located on leased land. The lease expires in 2026. No further payments are due on the lease. I am not certain how the leasing rules operate in Uruguay but if anything akin to international then this could be surrendered to the immediate landlord if he accepts the surrender and where there is value in the lease then the Landlord may pay the Tenant (Loryser) a Premium on the surrender. I should think there is value left in the lease as it has some years left before expiry and it seems all lease payments by Loryser have been made.

This Act was enacted in 2008 precisely to stop companies from being liquidated and instead enable negotiations and agreement between the debtors and creditors. It appears that it also has a 10 % cap on debtor's liabilities in case of certain unsecured creditors which therefore acts as incentive for the creditors to enter into agreement with the debtors. Indeed, if you look at note 3, sub - note (i) of the latest consolidated financial statements ended 31 August, it states " The validation by the Controller do not include......liabilities as they were not part of the proceedings AS LONG AS LORYSER IS NOT PUT INTO LIQUIDATION ".

Always loading up on the dip.

Sorry and thanks to Dave85