Orosur Mining Share Discussion Threads

[4marlin] 20/10/2016 16:59

SHG - sold a chunk at the end of trading today.
WSBN
AAU

FF (in the US)

Smaller amounts in a few others eg. CGH.

[qs99] 20/10/2016 16:49

marlin, which other plays are you in please mate? interested to hear.

[gaaston] 20/10/2016 16:33

Cut-n-paste from Augustusgloopy's past: no change in his tired gramophone record. There is nothing left from the previous incarnation apart from the name of OMI. You'll get crisp comments from the ceo, if you ask him anything.

[4marlin] 20/10/2016 16:08

gaaston and ww:

I just prefer to have my money in other juniors that I know much better and am very confident about.
Am not knocking OMI.
Hope it goes well for you here.

[augustusgloop] 20/10/2016 13:32

What numbers can you truly rely on:

Ounces produced,
Net debt position,
dividends paid.

And even the net debt position can be made to look good by falsely delaying development.

All the others can be fudged in some way by liars or accounting tricks.
AISC is especially transmutable.


Have any of the VERIFIABLE numbers improved under the new management?

[wallywoo] 20/10/2016 12:44

good luck 4marlin. For me I think the shares will run up to 30p+ over the next year. OMI is a steady ship, good assets generating good profits with good blue sky potential. It won't move up and down like a yoyo like many micro caps I could mention and that suits me fine.

[gaaston] 20/10/2016 12:12

4marlin ~ that is such a pity (for you). Also and to others, please don't read listen or argue the case with Augustusgloopy. He will go on like a trade unionist:
bashing away at mythical negatives, only he gets a thrill out of it. Richgit knows OMI very well.

[4marlin] 20/10/2016 11:49

might and might.
the shares have done well recently and I am out.
there are better plays out there.....with more probability that projects will profitably developed.

[someuwin] 20/10/2016 11:13

Orosur Mining: Palpably a buy at 20p or less

By Evil Knievil 20 October 2016

Ignacio Salazar called by at Drayton Gardens on Monday afternoon and, as promised, I bearded him on Orosur (LON:OMI) getting round to paying a dividend. I am not alone amongst shareholders in seeking tangible evidence that OMI is run for the shareholders.

He made two points. The first is that he wants to be very sure that he has got a good wadge of cash to support OMI should negotiations over this or that get under way. He stresses that overheads are being brought under control. I believe him.

There is of course another reason for not paying out a dividend (or engaging in a buyback). This is because the management really reckon that the return on cash retained by OMI will be more than satisfactory.

In view of the fluctuating price of gold it is not possible to prove that this objective has been achieved. But I listened carefully to Ignacio and I bet it is wise to let OMI develop its various projects. They might come off and they might come off soon.

OMI is palpably a buy at 20p or less...

[yasx] 20/10/2016 10:16

I think Augustloop takes the view that Fowler is still in charge - or he fails to grasp the changes over the past couple of years.

[iantrader2] 20/10/2016 09:46

Augustusloop

"How can you look at OMI's assets and say that they are going to be more profitable now than they were previously."

It would be fair to say that under the previous management the business was taken to a point where a serious risk of failure was present. Under the new management the business appears to be moving in a positive direction.

To answer your question with some specific points I offer:

1. Corporate costs have been slashed
2. Borrowings have been eliminated
3. Costs of production are lower than they have been for 10 years or so
4. Gold price may well be in a fresh bull market
5. The government royalty has been suspended
6. The management seem better at selecting the ore to mine.

It’s all about your view of the current performance and the likely future. In a sense the negative history – because your approach is not unique – offers an opportunity – because it still weighs heavily on the business valuation.

[billthebank] 20/10/2016 09:41

So Augustus I see you dont like the investment case here well fair enough but what is your agenda. Where were you earlier in the year when the share price was less than half the price it is today It is all about timing in some goldies. Look at SOLG for example By your premis you wouldnt invest in that either but some people have increased their capital by 10 times in the last year with more to come. Maybe you are right and maybe you are not time will tell either way. Personally I am in profit here by some margin and do not intend to exit any time soon. What shares are you invested in presently that are interesting so I can look at the possible opportunity I am missing.

[highly geared] 19/10/2016 23:19

AG
Stratex sold Turkey assets for multiples of explo money spent+ have share of Altintepe. However, blew a fortune in Africa for no tangible returns.

[augustusgloop] 19/10/2016 22:26

iantrader,

OMI is a producer that has been producing for at least 13 years -- it produced from its best assets first, then moved down the list as each asset was depleted.

When I first investigated them, they were claiming to be profitable at $800.

Since most explorers lose money -- I would regard them as nearly worthless.

In fact of all the gold explorers that I have seen on AIM - I do not remember any of them that sold an asset for more than they spent on proving it up.

The reason the big boys don't do much exploring - is they leave all the risk to the minnows - then when the minnows hit the jackpot - they buy it (often for a fraction of the money spent proving it).


How can you look at OMI's assets and say that they are going to be more profitable now than they were previously.

They have never returned a penny to shareholders - and never will - thus I think that they are indeed worthless.

How much would you pay to buy a company that has been producing for 13 years and never made enough to pay the owners a single penny on their investment.

-----------------

There are plenty of shares out there that make a genuine profit - and pay a dividend - why would you choose OMI above any of them?

[billthebank] 19/10/2016 17:45

32 cents Why arent we nearer 20p now?? Strange

[qs99] 19/10/2016 14:43

someone buying in nicely again...hope to see North of 20p soon....maybe management discussions with city are going well then? DYOR

[qs99] 19/10/2016 13:55

Hi Simon

Many thanks for the response and look forward to the update. I agree and this is a decent chunk of my portfolio: POG (news in October due per last RNS) and SHG (great recent update IMO) being the other gold producers. Not sure if you have a view on them but no harm me putting them forward here.

All the best
QS99

[simon cawkwell] 19/10/2016 13:51

QS99

I shall shortly publish. OMI is very cheap.

SC

[qs99] 19/10/2016 13:03

Good afternoon Simon C
Following your article yesterday on Master Investor, did you see the CEO and what was your view / outcome? if you could share with an interested shareholder that would be great, many thanks
QS99

[breaktwister] 19/10/2016 12:10

Dont forget OMI is sitting on net cash, $5m I believe, which should be discounted. I dont believe we will be sub 20p for long.

[scottishfield] 19/10/2016 11:06

PM prices on the way, looks quite solid this time (hope so)

[gaaston] 19/10/2016 10:40

ian ~ with different usernames he tries similar tactics elsewhere

[iantrader2] 19/10/2016 10:07

Agustusgloop

Again you are being cynical and it appears to me that you have a rather unbalanced view of how to value assets.

Applying your logic to explorers, surely you would have to make all of them worthless?

Tesla (overvalued in my view but still worth billions) has made huge losses, compared to OMI, over many years, has never paid a dividend, has had several placings, has never had a profitable quarter....yet is worth $30Billion. How can that be?

The question for you is what is OMI worth and if it is significantly different from £17m, why and why is your analysis so superior to the market?

[overdale123] 19/10/2016 09:54

Ty, g. Good to hear sensible comments.