Member Info for Ronnycant

What is meant by this? That our first revenues from upper gallery has to be paid up to the license owner? “The Board believe that the material in the upper galleries at Baita Plai is likely to be payable “

He said: It could be next week, it could be later... I am not going to do any predictions... Those claiming this week are bending the truth and are setting up for unnecessary disappointment and unwarranted share price drops.. It will arrive when it arrives.. AS LONG AS IT ARRIVES

If that govt manages to fall again before the license is issued, I think I will loose the plot :-o Jeeezzzz, that license has been such a joke beyond anything.. Nevertheless... all in all, current mines in operation + Eureka are a solid foundation for growth. We just need production numbers to make this go up.

Cheers for the update Muzzer! Greatly appreciated!

Can anyone at the investor show please feel the temp regarding BP? Read in between the lines ;-) Check AP's body language as he says "imminent".. That would be greatly appreciated :-)

Come to think of it... Orion could request to issue shares, together with getting their then diluted stake upped to 25%.

Hi Boffin, Thanks for that clarification.

The market cap is too low to raise sufficient money without a ridiculous level of dilution. That would just not make sense within the scale of debt etc.. I would expect that Orion would be open to restructure the debt in return for getting some of the future benefits.. e.g. getting a raised stake in the company. This would be in my eyes acceptable, if this is a limited raise... from let's say 25% to 35 or 40%... Then again, this might be all BS what I am writing here.

That was me... This could be a 600k kiss of death. I moved part out of OMI, into this. Let's see if it was the right choice.

Ignacio's response to my question how he anticipates UK not leaving EU and gold going down: Indeed Ronny, Not only Brexit but any volatility, especially on the downside. We are doing some small pre-sales of gold (fixing the price for the next 1-3 months) (currently at 1270-1300 $/oz). It allows us to select the best moment to do it in a relatively long period and not to be forced to take spot price in a matter of 2 or 3 days. Also it will give us a breathing space to react and adjust operations. Especially important now that we are doing the development in San Gregorio Deeps. Monitoring the merits and opportunity of doing something a bit longer term, but more cautiously on that as we want to remain exposed to gold price (on the positive) as well. Kind regards Ignacio

Fair play to him... Quick, extensive and seemingly honest response... Pretty unusual on AIM Dear §§§§, Thanks for the question. At May 2015 (official reporting), reserves were 158.701 oz. we will make it clear in the OMI web. I cannot get in too much detail till we have and release the reserves figures this year, which we do just after the Q4 financials, but I hope I can provide a couple of comments that may help. “In case gold goes above 1300 $/oz”, there will be two main positive effects: 1) We will automatically take some ounces which were left aside as marginal and “convert them into reserves” and mine them (the reserves in May 2015 are based on a 1100-1200 $/oz gold price). There is scope for additional improvement as costs are coming down also following this year´s restructuring. 2) We will have more cash flow to invest in exploration To be very clear, we need “sustainable” higher gold prices, to happily embark on ramping up production. Operationally to increase it, is not difficult (to decrease it is the problem). We had to do it (decrease it) once during FY 2016 and we do not wish to have to repeat that exercise many times more. The Mine life at San Gregorio Uruguay is one of the top drivers in the Company´s valuation. While it is not an obvious task, San Gregorio has also proved its resilience with a life till today of 15-20 years while on the books only 3-6 years were shown year on year. A lot of effort and focus goes on that these days and we aim, with better gold prices in FY17 (and surely continuous discipline in our Exploration), to keep extending minelife at San Gregorio . Kind regards Ignacio

Ok, Just sent the below. I will communicate the response here (if any). Dear Sir, On the website I have found a statement of Reserves of 158.701 Oz (dated May 2015) and another statement of 222k Oz Reserves (in Asset Overview for San Gregorio) and a statement of 194.640 Oz (bottom table San Gregorio Production Overview). I understand that reserves change continually, but what is the most up to date current reserves for Orosur mining? My related concern deals with how long Orosur could potentially produce at 50k Oz/year production rate (in case gold goes above 1300 $/oz)? Is there sufficient potential in San Gregorio itself to keep this rate of production for the coming 4-5 years or more? If not, do we expect the other assets to be able to take over production at a similar rate, by this time? I understand that time wise it might be difficult to comment on individual private investor questions. It would be reassuring however to get insights on this via mail or during future market communications. Many thanks for your time & effort, $$$$$$$

On the website I have found a statement of Reserves of 158.701 Oz (dated May 2015) and another statement of 222k Oz Reserves (in Asset Overview for San Gregorio) and a statement of 194.640 Oz (bottom table San Gregorio Production Overview). I understand that reserves change continually, but what is the most up to date current reserves for Orosur mining? My related concern is how long Orosur could potentially produce at 50k Oz/year production rate (in case gold goes above 1300 $/oz)?