Orosur Mining Share Discussion Threads

[richgit] 14/6/2016 08:35

With the worst valuations for Gold stocks in 30 odd years,little is valued.

Whilst the Market still needs to play catch up with valuing Gold in the ground
will Investors have something new to value in the future.

Ie- Gold being tucked away for the days of beyond $1900 maybe !!!
Could that become a foresight of valuing Gold tucked away for $10,000 ?

Would the Market give that more attention than the profit of Gold sold ?

Mr Sprott was suggesting such a thing some time ago,and the boss of Majestic Silver tried to promote the idea to others.


OMI have sensibly avoided selling precious resources for the sake of it.





" MX Gold Corp CEO Akash Patel and CFO Kenneth Phillippe say that they are positioning their company to stockpile between 20% to 30% of their physical gold production in coming months, noting that prices are nowhere near where they should be at current supply and demand levels. In an interview with SGT Report, Phillipe appears to be taking the stance of many precious metals investors, which is to stockpile the physical asset in anticipation of any number of potentially cataclysmic economic and monetary events like the hyperinflation we are witnessing in Venezuela.

We want to pull out the physical gold… We want to take this gold and we want to store it. We believe that having the physical gold in the vault makes a lot more sense than selling it at these prices. Gold is ready to move. We believe it’s going to continue to rise… we’re going to be storing our gold and holding it for the long-term. "



It would be ironic if at some point the Market values Gold producers ever higher for
"The Gold they do not sell "


IMHO

[richgit] 13/6/2016 08:55

We certainly know that $trillions more debt is on its way.and that the Central Planners will risk accelerating inflation(at some point)in an attempt to inflate the debt away.

Will a trapped FED try to totally confuse everyone and surprisingly raise in July or just talk-talk until the Election is over.

I certainly do not like the idea that the Fed`s vampires are suggestng buying Gold and do wonder if they have some final devious plan brewing to try and hammer those playing the Margined Paper Gold game.

Whatever devious plans they may have,they will surely be the last with Paper Gold,as any moves to hit Gold again now will equally accelerate Physical Buying.

So what is the next chapter- QE to infinity,Negative Interest rates,or some form
of Helicopter Money.

The ripples from small Banks in trouble seem to have started,and if that leads
to waves the ECB will go into total panic mode.


What a World we created whilst supporting the US`s delinquent economics and War
Machine..

[che7win] 10/6/2016 12:47

Gold rising, a good hedge

[richgit] 10/6/2016 09:13

My Final rant before freedom of speech is a thing of the past.

Let us pray that others in the West start to ask Putin for forgiveness of their
sheer stupidity in supporting the US War Freaks and NATO nutters.

I would merely suggest asking the question "What would the US do if Russia surrounded them with Nukes -in their back Garden ?"

Fortunately (so far)Putin doesn`t suffer the US War Freak mental illness.

I read stories that the US military machine is not healthy as they even struggle to find spare parts to put all their B1 Bombers and F16s in the air,and their own admittance they couldn`t possibly win a conventional War against a far superior Russian Fighting Force.

Russia is in truth (bar Nukes) head and shoulders beyond the the US in conventional War Machines,and maybe those NATO forces would decide not to commit
suicide in a false War,just like the crew of the Duck when a Russian Bomber froze all its ability to operate.

They would be up against a fighting machine far beyond Iraqi`s and somewhat far
beyond Troops that should have no desire to commit suicide to appease Victoria Nukeland,Clinton ,the US War Freaks and profits of War machine makers and investors.

Without John Wayne- the US win nothing !!!


Now trying to force China into some confrontation leaves the US with only one
way to win if others in the West do not wake up to being dicatated to by a Bankrupt Bully that can only export War !!!.

These are idiots playing Chicken- with Nukes- and risking millions of lives
simply to cover up their inability to create an economy that cannot just live on endless Debt !!


Would we let our Sons and Daughters commit suicide for Psychopaths ?

[richgit] 09/6/2016 13:44

The greatest threat to our National Health System is the soaring costs of low life spongers entering the UK whilst Erdogan and our so called European friends are going to unleash thousands more of them whilst our inept Government thinks it is cost saving not to spend more on stopping them getting in.

There will be War beteen us and the French- refugees and low life- War !! and guess who intends to win.

This is no time for nicities- Ram the barriers up and intensify the borders
with "Full-bankrupt-and no handouts " signs everywhere.

Deutsche Bank warns how the Eurozone is headed for Catastrophic meltdown,and
there will be War in Europe - (albeit without Weapons) as it is going to disintegrate in the hopelessness of its Frankenstein creation and useless Barter system of pretend trade.


Remember how all those NOT in Europe got all the endless bargains of the Olive Oil Mountain,Butter Mountain and so much else.

On that note- as I predicted- the Cretinous Obamageddonists have started Trade wars which will socker punch their own economy just like Minimum Wage nonsense
is destroying jobs.

"Mervyn King's Alarmist Warning: "All China's Assets In The US Might Be Annulled"

Despair- as I know they will stop us Exiting Europe,and lead us down the road
to Hell with absolutely no return path.

Any talk of us joining the Euro- and We may as well learn to speak Greek.


IMHO

[wallywoo] 08/6/2016 10:31

OMI's year runs to end May. So we should get the full year results and plan for 16/17 sometime in the next month. Anyone know the date?

Nice rise today, retesting highs again soon. Mkt cap still on £9M though. Think we will hit new high again soon

[richgit] 08/6/2016 09:19

As Greece faces final asset stripping to the point the Greeks wont own the Toilets they sit upon,we still await Spain.Portugal,Italy.France.

Any one of those can potentially turn Germany into Greece with potential unpaid debts,as I wonder if Deutchse Bank will be sacrificed

One things is for sure- things are not getting better as only time will tell
whether the euro has any asset support beyond Debt and whether a Bag of Tesco Confetti would be a better long term investment.

The argument is - All Major Paper currency only has assets of debt and thus it does not matter.
So how in the great reset do we work out which Major currency has less debt backing than others ? or more the point ...before the great reset.
Will the World slowly decide beforehand that one of the Major currencies is faster becoming worth 0 against its IOU.

Who knows- when the only plan the US currently has is to live on more debt for the next 40 years (assuming we let them !!?


The one thing we all have in common - is - if pot holes in our roads is a sign
we simply don`t have the money to fill them then, including Germany, we are indeed all bust So maybe the great RESET will be based on comparing the numbers of POT holes

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[highly geared] 08/6/2016 08:39

Looks poised to start the next move up as gold gets moving again following ate artificial smash down from a couple of weeks ago. With no debt, great leverage here to any sustained move on POG. If gold moves to $1350 in the coming 3 months, OMI should be around 20p.

Little downside risk at these levels unless gold falls off a cliff...

[richgit] 05/6/2016 18:24

According to Bullionvault-and several other sources...

There is NO Value Added sales tax (VAT) to pay unless you WITHDRAW your silver from the vault.

Silver withdrawal is available in whole 1,000-oz bars only. VAT would currently be charged at 20% by HM Revenue & Customs.


I confess I wrongly took it for granted (and maybe much misinformation)-that Vat was payble when I finally sell my Silver.

As I consider Silver will rise (in time)somewhat far beyond 20% of my current average purchase costs- I never took the trouble to simply check.


Somewhat a bonus to find that is not the case ,as for Myself my Silver will not be for withdrawal-just sold one day in the future and then replaced with vaulted Gold

[bigtbigt] 03/6/2016 14:24

...because one is just a leveraged bet on the other

[someuwin] 03/6/2016 14:18

Gold up.

OMI up.

[richgit] 03/6/2016 09:11

Gymratt.

You get used to it quite quickly.

They even let you know when you have been logging into your account.

You can decide where you want your Gold/Silver vaulted

You can trade -albeit you will have to check out the Vat imposition with Silver
for "Trading".



As I don`t trade (just hold my Silver until the day I swap for Gold)I don`t know that answer as I haven`t asked it.As Vat is payable when I eventually sell
My Silver I would merely assume a logic that is applicable on any sale.

I find the service very professional.

Check it out...don`t totally rely on my opinion.

[sharnish] 02/6/2016 22:02

.... was some nonsense from KWN or the silver sheet that comex is short of near 50 tons physical G for this month

[sharnish] 02/6/2016 20:58

richgit ~ your detailed post is MOST useful. I think their website somewhere states that vat is not payable upon purchase of silver, but is levied on the sale of the physical back to them, at what one hopes to be at a higher net amount..
One might prefer to pay up at the beginning ? If I am clear

[gymratt] 02/6/2016 16:22

Richgit,

Thanks for that insight. I'm thinking of buying some 'touchy feely' gold ! Is the Bullionvault website easy to navigate? Could I trade electronically as I do with shares on the Halifax website?
Can I buy and sell on the same day?

Thanks in advance,

GR

[richgit] 02/6/2016 15:48

Hazl.

I am sure there are several.

I like Bullionvault,it`s easy to buy Gold & Silver,
and I think their vaulting charges are very reasonable for such peace of mind.

The below.helped my decision to use them,and I hope that proves correct...

What does it mean to have "full legal ownership and title of physical gold and silver " in BullionVault?

Ownership of your gold and silver in BullionVault is outright. BullionVault bullion is not subject to a trust deed, and it is not anyone's liability. It is - quite simply - your outright property from the instant you buy it to the instant you sell it.

In accepting the BullionVault Terms of Business you have engaged BullionVault as a custodian of your bullion. BullionVault has subcontracted the physical custody of your bullion to the vault operators. BullionVault has retained responsibility for administration and record keeping, which is performed through the BullionVault website.

You can see the official bar lists on the BullionVault website, and reconcile them to the BullionVault customer-by-customer records. You should also know that in their agreements with BullionVault the vault operators fully acknowledge that the bullion shall remain the property of BullionVault clients at all times.

These are unusually strong property rights for you because there is no intermediation via trusts or company balance sheets. The gold is your personal property and is treated under English law as a "bailment".

Back to top of FAQs
What is a bailment ?

In English law a "bailment" occurs when a person [the bailor] delivers physical property into the possession of another person [the bailee] on condition that the goods are either returned to the bailor at some later agreed date, or disposed of in accordance with the bailor's instructions. The essence of a bailment is that the bailee [a custodian] has physical custody of goods but they remain the outright property of the bailor [you].

The bailment is founded on old and well established trade laws. Ancient courts decided that transferring goods to a custodian did not grant a property right to the custodian, or to its creditors in the event of the custodian's failure.

Instead the property remains that of the original owner until it is delivered according to the bailor's [your] instruction. Failing successful onward delivery the property would be returned in full to the bailor [you].

If you've not heard of a bailment it's because they are now uncommon - especially in the investment world. In law a bailment is restricted to physical goods which can be owned outright through possession. A bailment cannot apply to entitlements evidenced by stock certificates, trust deeds, unallocated accounts, futures or other bookkeeping entries. With these the possession of a piece of paper does not grant the basic property right, because the actual value of what is owned is abstracted from the paper itself.

So bailments - and the outright property rights they confer - are not widely applicable to modern securities like stocks, shares and even gold certificates. Instead modern securities law is based on contracts, trusts, deeds and increasingly complex case law.

All of these constructions are far more complicated than owning some physical material. Indeed key clauses in contractual and trust agreements are frequently struck out by the courts, which insist on their right to interpret complex documentation and its wider legal meaning.

There is simply not the same potential for future argument with a bailment of physical goods. It remains the legal property of the bailor [you] and this inalienable property right is soundly established and tested in law. Over several centuries there is very much less case law on the subject of custody bailments than on the subject of trusts, because there is much, much less to argue about than with a trust or deed.
Bailments and business failure

Owning your gold and silver in this way gives you the soundest protection from business failure.

When businesses fail liquidators are appointed to take control of the company's assets, sell them and arrange a fair distribution to creditors of various classes including themselves. Liquidators generally claim ownership of every asset on a failed company's balance sheet (which would of course include unallocated gold or silver). However they cannot lawfully treat bailments as the property of the company available for creditors' benefit.

Should they try to do so any dispute would be resolved - perhaps even in court - by reference to several key pieces of evidence.

The first is a clear documentary statement about who owns the bailed goods. This is stated in BullionVault's Terms and Conditions here, and it is unequivocally you. That fact is also evidenced on the contract between BullionVault and the vault operators.
The second is the company's balance sheet. This is a public document where the assets belonging to the company are annually listed and filed at Companies House. Creditors are entitled to expect that assets listed on the balance sheet protect them from a company's insolvency. But your gold and silver do not belong to Galmarley and have never been on Galmarley's balance sheet. No creditor of the company can claim to rely for protection on bullion which the company never claimed as an asset.
The third is the fact of your payment for a custody service. This is evidence that the bullion is your property in BullionVault's safekeeping. It evidences the nature of the agreement - i.e. that you are paying for the protection of your property, and not transferring your property to BullionVault for gain. The custody fee is deducted from your cash balance and posted monthly to your statement.

The safety of your money

Money in any bank account does not have the protection of bailment law. So your money has to be protected in different ways against (i) the failure of BullionVault and (ii) the failure of the bank.

To protect your money from BullionVault's failure your un-invested money is held at Lloyds Bank or Wells Fargo in a segregated and pooled trust account designated 'CLIENT'. Under English law a bank may not consider the money in a trust account designated 'CLIENT' to be offset against debts which BullionVault might incur in running its business.

You can view copies of our bank account trust deeds here.

To make this arrangement still safer BullionVault uses three completely separate banks. All client money is held at Lloyds Bank (UK) or Wells Fargo (US). BullionVault's trading commissions accumulate there too, and are periodically paid into our Barclays Bank account, from which we then pay our operational costs.

Every transfer of money to the Barclays account is verified by the next day's published DAILY AUDIT of the BullionVault Client Account, publicly proving that we never allow your money to fund our business.

The BullionVault Client accounts are potentially exposed to the failures of Lloyds Bank or Wells Fargo.

Lloyds Bank is one of the largest of all UK banks, currently part-owned by the UK government after it acquired HBOS to become the Lloyds Banking Group in Dec. 2008. Measuring bank reliability is the business of the credit rating agencies like Moody's, and their analysis now puts the Lloyds Bank division (where BullionVault keeps its client account) at A1, indicating that it is subject to low credit risk and has a good capacity to meet its financial commitments.

Individual client deposits, including those of non-UK customers, may qualify for statutory compensation in the event of Lloyds Bank's insolvency, up to the £75,000 statutory limit. Any such insurance, if it were paid, would be according to the Financial Services Compensation Scheme, broadly equivalent to the United States' FDIC.

Wells Fargo is one of the largest banks in the United States, having merged with Wachovia Bank in 2010. It was rated as Aa2 by Moody's (as of July 2015).

Individual client deposits, including those of non-US customers, may qualify for statutory compensation in the event of Wells Fargo's insolvency, up to the $250,000 statutory limit. Any such insurance, if it were paid, would be according to the FDIC (Federal Deposit Insurance Corporation), of which Wells Fargo Bank is a member.

All BullionVault client money is available at short notice and can typically be returned to validated users by the end of the business day following the request. But as with any bank deposit, cash in the client account is potentially exposed to a bank failure. Owning bullion, in contrast, gets you off risk – which is one reason we're in the business of providing physical gold and silver bullion ownership to private individuals.






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[hazl] 02/6/2016 11:53

Hattongardenmetals is quite a good site richgit I have used them in the past.

IMO

[richgit] 02/6/2016 11:25

SHARNISH

I first bought vaulted Gold and some Silver to have at hand as not everyone offers "vaulted Silver"

Then I opened an account with Bullionvault for vaulted Silver & Gold as I liked
their statement that whatever happens- My Silver & Gold - is mine- and cannot be
subject to any form of Bailin in terms of my assets becoming entangled with "their assets" in a worst case scenario of a Bust.

I then switched all my Gold in that account for Silver.

I also like the idea of Bitgold and am looking to also open an account with them in pure readiness of that account becoming my safety net Bank Account -so to speak.

I convinced my Wife to use Bullionvault just like any savings account (longer term)as I am convinced her Gold & Silver will do far better than Her Halifax account.

I hope so- yet Silver & Gold are going to be Money for a very long time to come,so it it is only a question of what exchange value to whatever Paper currency still exists in a few years time..

IMHO

[sharnish] 02/6/2016 10:14

Thanks very much for the comprehensive run-off over silver. I have yet to buy but
have gold coins for the grandchildren to keep in their flight bags in case of a disaster in some far-flung place.

[richgit] 02/6/2016 08:50

sharnish.

Yes-The Vat is a bind,but then my average into Physical Silver is around $15
and I keep adding,with little doubt it will go far beyond that ( I am in no hurry with what I store in Physical as it is there as hoped protection for my Family).

I cannot give you a true answer to my own game plan as the answer to Myself will be if I am buying Silver at $50 when the day comes.
I do of course "expect" Silver to rise far greater and faster in percentage terms than Gold.

When the day comes that Gold is knocking on the door of $1900 I would merely expect a foresight of Silver to be heading to $50,and there is some thought
Silver could see $120 by 2019.

$50 will be my fighting the Demons moment as I know I am mentally programmed to
be in Gold and would be quite content to make the switch- assuming $1900 Gold
$50 Silver (less the Vat).

Of course the Gangsters JP Morgan will be wanting their skimmed off Millions
of ounces of Silver to pay back hugely, so Silver towards $120 could be
the foresight longer term whilst those that see Gold beyond $5000 make a case
for Silver $500...(useless hindsight will answer everyone).

For the moment,I follow the "return of my Money" (as I don`t trust the Banks and little else) with an obvious view of the "return on my money" over time, so assuming Silver hits $50 I will be paying a lot of attention to the Silver Money Men, the gangsters JP Morgan,and China that knows the future worth of Silver.

If only we could have the glory of hindsight as the gift of foresight,whilst maybe there is some logic that Silver will go beyond $50 as a vital precious metal/commodity and "real money".

Human nature- When Gold surpasses $1900 many will think Silver at $50 is more
affordable and that "could" lead to Silver Frenzy as it becomes ever shorter
in supply.

The same reason we are mostly obsessed with Micro-Caps that can become
the next huge winners as opposed to the more sensible safer big stocks that can just multiply.

A mix of varied risk/reward for the return of money and a return on it !!?


I hope so.

[sharnish] 01/6/2016 21:48

richgit, do you have a researched exit for your physical silver ?? I live out of the big smoke but it's where I'd go. VAT is a bind ~ Thanks

[richgit] 01/6/2016 12:15

abc125

Who knows !!

So much depends on the Fed`s Fantasy,and no doubt what OMI have to tell us.



Meanwhile look what some Consumers may have to face .........



Premium proposals

Average premium increases proposed by Big Insurers for individual
Plans sold on the health law`s insurance exchanges for 2017

Arkansa (Arkansas Blue Cross & Blue Shield ...... (14.7%)
Florida (Blue Cross & Blue shield of Florida...... (14%)
Georgia (Humana).........................................(65.2%)
Indiana (Anthem).........................................(28.3%)
Maine (Maine & Community Health Options).................(22.8%
Maryland (care First Blue Cross Blue Shield..............(12-16%)
Nevada (Sierra Health & Life.............................(13.6%)
New Mexico (New mexico Health Connections)................(31.6%)
New york(Empire Health Choice HMO)........................(24%)
Oregon (Providence Health Plan)...........................(29.6%)
Pennsylvania (Highmark)...................................(38.4%)
Vermont (Blue Cross&Blue Shield of Vermont................(8.2%)
Virginia (Anthem).........................................(15.8%)
Washington(Premera Blue Cross)............................(19.9%)

Source Insurance Filings with state regulators
The Wall Street Journal

[abc125] 01/6/2016 11:32

It looks like Omi wants to test the top of the year long 5-8p range. A drop back to 8p (mid) would be a neat 62% fibonnacci retrace of the entire 4.6p-13.5p advance.

Gold probably needs until the end of the year to digest the initial advance out of the December lows. Price will fluctuate between $1200-1300 with possible $50 dollar spikes above or below those levels.