TwoSporrans
22 May 2015
Salazar adds £20k to his shareholding well, almost £20k.Now ~£70k total; he has a bigger stake in share options I believe.Good to see continued buying by any director, especially CEO.TS
forwardloop
13 May 2015
info [link]
forwardloop
12 May 2015
info [link] consistent Laureles output will dovetail nicely with the higher grade production from Arenal Deeps and has allowed Orosur to state categorically that the fourth quarter of fiscal 2014 will be the best quarter of the year. The company is confident of meeting the 50,000 ounce full year target that it previously laid out, all at cash costs of between US$850 and US$950 per ounce.Precisely what happens after that remains to be seen. “We’re in the middle of the budget for 2016,” says Salazar. “A lot depends on the sequence of the pit and the Arenal stopes. We’ll try to keep it smooth quarter on quarter. “We’ve been very focussed on cash during this period. And next year we’re going to be even more demanding in keeping costs under control.”What seems also to have fallen of the radar screens of most investors is that the company is now virtually debt free. The cash has been flowing and two separate long-term debts have been gradually paid down.
TwoSporrans
14 Apr 2015
Q3 Financials "Cash flow from operations of US$3.0M (Q3 2014: US$3.5M) • Net loss after tax for the quarter was of US$1.9M (Q3 2014: Net loss after tax US$0.01M) • The cash balance at February 28, 2015 was US$5.8M and the debt balance was US$3.3M compared to cash US$10.8M and debt US$4.9M at May 31, 2014 • YTD the Company has generated US$7.4M of cash from operations and invested US$6.8M in capital expenditure, including the tailings projects, and US$3.7M in exploration"So, how much of the CAPEX was spent on "pre-development" of SG Deeps?It was the prudent decision to shelve SGD development 2 years back that resulted in the SP collapse from above 30p to as low as 7p some weeks later."A pre-development program of geotechnical and infill drilling on the main known extensions of the San Gregorio deposit (SG Deeps) was completed in Q3."The revived prospect of SG Deeps going ahead to production hasn't imbued [would be] investors with any great optimism.At least debt was paid down to only $3.3mn at end of February; improves survivability.TS
forwardloop
14 Apr 2015
Cantor 32p tgt [link]
TwoSporrans
29 Mar 2015
Minesite Article Worth a read; some comments by I. Salazar that aren't on Orosur website; not that I've seen anyway:[link] are trying to do work with the highest chance of success in the shortest time”, says Ignacio. “We are trying to replace production with resources as we go along. And everything that we are looking at is extremely close to the plant. A lot of effort is going in to Uruguay to extend the mine life. 100,000 ounces would be a big deal. We don’t need three million ounces. Something like that would add two years.”“We can manoeuver around the gold price”, he says. In recent months around 70 per cent of production has been coming from the underground operation at Arenal, with the remainder from open cast mining. A new open pit is about to be brought on stream, and the production ratios look set to be maintained this year.The next big news will be quarterly financials in mid-April"If the current POG rally can break up above the 200ma [currently] around $1240/oz, that will be most helpful, as otherwise the downtrend is very likely to continue.Guess its the extent to which the $ appreciation [v other currencies] remains ongoing that is the key arbiter.TS
gretel
27 Mar 2015
Institutional buying of OMI [link] "March 26, 2015 14:57 ET Paul H. Stephens Announces Acquisition of Equity Interests in Orosur Mining Inc. TORONTO, ONTARIO--(Marketwired - March 26, 2015) - Paul Stephens ("Stephens"
announces that he has acquired 4,572,000 common shares of Orosur Mining Inc. ("Orosur" (representing approximately 4.73% of the outstanding common shares of Orosur) at an acquisition cost of Cdn.$0.15 per share. As a result of this acquisition, Stephens currently owns directly or indirectly, an aggregate of 8,583,125 common shares representing approximately 8.88% of the outstanding common shares. The common shares were purchased through the facilities of the Toronto Stock Exchange. Stephens, as portfolio manager at Stephens Investment Management, LLC, also exercises control or direction over 3,301,000 common shares held by Orphan Fund, LP; thereby collectively owns, or exercises control or direction over, 11,884,125 common shares representing approximately 12.3% of the outstanding common shares. The common shares were acquired for investment purposes. Stephens has a long-term view of the investment, and Stephens does not intend at this time to acquire additional shares, but may acquire additional shares either on the open market or through private acquisitions or sell the shares either on the open market or through private dispositions in the future depending on market conditions, reformulation of plans and/or other relevant factors."
TwoSporrans
12 Mar 2015
Changing metrics - Re: Evil Knievel buying more OMI " until the gold price goes above $,1250 it does not look good."Pretty much agree with you forwardloop; $1250/oz seems to be about the mark below which Orosur may have to cut back on exploration/development and hence reserve replenishment/expansion.Having said, the ongoing $ appreciation versus nearly all other currencies has been such that reconsideration of some crucial metrics is warranted.Like, consider the price trend of gold in other currencies; it's upwards the past year and more in not a few.Not least in Euro terms where it has risen 12.4% the past year.Have a play with various currency/prices in:[link] it's the $ price that is overwhelmingly crucial as miners get paid in it.Then again, a substantial % of buyers may consider gold an alternative to holding cash in [their] weaker currencies, rather than buying the $ or $ assets; especially so over the longer term, providing rates/yields remain very low.. Further, although the $ strength has been bad for the gold price in $, it must be helping out with most miners costs.Orosur has benefited in this respect from a depreciation in the Uruguayan Peso v $ the past year of knocking 20%:[link] help with the labour bill, taxes and a fair bit more.And there is the much cheaper oil [diesel] price to consider.Orosur must have a hefty fuel bill; ditto reduction over recent months.Wonder what % of the operational costs this has been; not least over time.?Whatever, at least Orosur has good survivor credentials versus a lot of its competition; not least because it has very little debt and can scale back further, ceasing marginally higher cost production, if required.Who knows how long it will be before the demand/supply equation for Gold becomes more favourable again?Methinks the timeframe over which Arenal can continue to provide higher grade output, at ~40k/oz pa or more, will prove crucial if we have to think in terms of years for a POG revival.TS
forwardloop
11 Mar 2015
Re: Evil Knievel buying more OMI latest todayOrosur’s (OMI) production RNS this morning is all very well but there is no mention of cash or cash balances. I can’t bring myself to sell but, equally, until the gold price goes above $,1250 it does not look good.
jc1973
11 Mar 2015
RNS: Orosur on track for top of guidance gold output Orosur on track for top of guidance gold outputsteady as she goes.
tikky
23 Feb 2015
TURNING UP SLOWLY GOT SOME AT 10P LOOKS LIKE TRYING TO TURN NORTH EVIL HAD A BUY RATING HOPE HE IS RIGHTSEE CHARTRSI/STOCH TRYING TO MOVE UP/ PL FEED OTHER DETAILS AS STOCHS AND RSI MACD INITIAL TARGET 12P AT 200MA/IF IT BREAKS THEN 17PIMHOALSO GOT OPTI/FOGL/RKH/ SOLD OUT PDL
forwardloop
04 Feb 2015
Re: Evil Knievel buying more OMI and more[link] got a call from Pablo Marcet, the exploration geologist at Orosur (OMI), this morning. He was in effect part of the package that comprised Waymar the Colombian prospect acquired by Orosur last year.Dealing with Colombia first, it is clear that Pablo reckons that there is a really good mine in waiting. However, and being realistic, the well trodden steps of establishing a resource, preparing a feasibility study and financing production equipment and plant is a long way off and might cost $50m to $100m. So, in cash output terms, Colombia will just have to wait.Continuing the approach to Nirvana, and over in Chile, Anilo could throw up summat - at least Orosur is not on the hook financially. However, Pantanillo is a different project in that it could be 1m+ ounces. There is the problem that it is up 4,000 metres, which makes it expensive to develop, and, in the end, some form of joint venture financing partner will be required - it is perhaps $50m to bring into production. But Pablo clearly thinks that, gold price permitting, it will happen.Finally, and back on the money button, San Gregorio should be seen quite differently to how the market now sees it. Currently it is seen as having, say, 3-5 years production in reserves. But Pablo reckons that he can see the life of the mines extended further than current production absorbs reserves. This is because the gold is held in a “granite greenstone” form and could (I am not making this up) go on for centuries.Please note that there is a provision in Orosur’s balance sheet of the order of $5m to cover tidying up matters on closing down operations: perhaps this provision is not required. All this underlines my point that, given the probable price of gold, Orosur shares are very cheap at 12p.
gretel
28 Jan 2015
Evil Knievel buying more OMI This from last night[link] have also been topping up on Orosur (OMI) since there has been a staggering improvement in its costs and revenue. Off the top of my head it’s well over $6m p.a."
dickie3times
25 Jan 2015
Oil sector is in 'schizm' and i'm reducing my holdings for quality precious metal miners, pharmas and tech stocks >...sink or swim?Big decisions in the oil industry as the oil price continues to collapse. Will the oil industry go into 'schizm' (a word usually reserved for the church)? Investors must decide as the industry is about to end 120yrs of control over the world's oil energy resources and give way (finally) to the innovations of the electric vehicles powered by 'lithium' batteries...the big car makers are slowly switching to electric and will survive, while the oil industry will suffer huge losses and inevitable mergers or take overs, giving the small investor a chance, maybe to get his money back.....if that is, someone wants to buy out the company. Do or die, sink or swim, that is the decision many oil investors are making right now?OIL STOCKS ARE IN SCHIZM~~~~~~~~~~ ~~~~~~~~~~ ~~~~~~~~~~ ~~~~~~~~~~ ~~~~~~~~~~ ~~~~~~~~~~ ~~Oil Drillers ‘Going to Die’ in 2Q on Crude Price SwoonJoe Carroll Jan 22, 2015 9:39 pm[link] drillers will begin collapsing under the weight of lower crude prices during the second quarter and energy explorers who employ them will shortly follow, according to Conway Mackenzie Inc., the largest U.S. restructuring firm.Companies that drill wells and manage fields on behalf of oil producers will be the first to fall after the benchmark American crude, West Texas Intermediate, lost 57 percent of its value in seven months, said John T. Young, whose firm led the city of Detroit through its 2013 bankruptcy.Oil companies have slashed thousands of jobs, delayed billions of dollars in projects and dropped or scaled back expansion plans in response to the prolonged rout in crude prices. For oilfield service providers that test wells and line the holes with steel and cement, the impact of price reductions forced upon them by explorers will start to pinch hard during the second quarter, Young said Thursday.“The second quarter is going to be devastating for the service companies,” Young said in a telephone interview from Houston. “There are certainly companies that are going to die.”Oilfield-service providers are facing a “double-whammy,” he said. Even as oil companies are demanding 20 percent to 30 percent price reductions, they’re also extending wait times before paying their bills, enlarging cash-flow gaps for the drilling and equipment firms, he said.
dickie3times
25 Jan 2015
Re: Fantastic results today OMI.....one of the rare companies on AIM that are delivering, just look at the many AIM stocks that have gone backwards over the past 12 months?good luck to allBUY and HOLD
