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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Orosur Mining Inc | LSE:OMI | London | Ordinary Share | CA6871961059 | COM SHS NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 5.05 | 4.70 | 5.40 | 5.29 | 5.05 | 5.05 | 0.00 | 08:00:24 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Gold Ores | 189k | -1.79M | -0.0087 | -9.20 | 16.44M |
Date | Subject | Author | Discuss |
---|---|---|---|
15/10/2018 19:10 | can we sue someone for posting the same thing 3 times? | bigtbigt | |
15/10/2018 18:37 | https://www.telegrap | pishcoin | |
15/10/2018 18:37 | https://www.telegrap | pishcoin | |
15/10/2018 18:37 | https://www.telegrap | pishcoin | |
15/10/2018 18:07 | You are speculating now to suit your agenda. | tidy 2 | |
15/10/2018 17:57 | tidy2, It is almost certain that OMI issued guarantees to the Uruguayan govt. There are many instances of mines causing environmental damage - and the parent company had to pay - despite the standard practice of holding mines in subsidiaries. The debts of many suppliers and the workers may not be enforceable on OMI, but any bank loans and Govt charges probably are. Plus, the workers may get first claim on any assets (or all creditors are treated equally). So the $5.4m environmental charge may nearly all have to come from the parent company. | augustusgloop | |
15/10/2018 17:49 | Liabilities are with Loryser not OMI. OMI is now with Newmont who are carrying them through to production on Anza and spending a minimum of $30m on proving up Anza operations and also paying OMI in the process so they do not place to keep the lights on. Forget Uruguay | tidy 2 | |
15/10/2018 17:15 | Furthermore, restructuring of Orosur's Uruguayan operating subsidiary, Loryser SA, which has been ongoing since June, led restructuring costs to multiply substantially to USD3.3 million from USD60,000. | big momma | |
15/10/2018 17:14 | Orosur Mining Loss Widens On Uruguay Shut Down And Restructure Costs Orosur Mining Loss Widens On Uruguay Shut Down And Restructure Costs Mon, 15th Oct 2018 11:01 LONDON (Alliance News) - Orosur Mining Inc on Monday said its loss widened considerably in the first quarter of its 2019 financial year after production was halted at its San Gregorio project in Uruguay. The South American gold producer placed its Uruguay operations under care and maintenance in August due to a lower-than-anticipat As a consequence of this, Orosur's loss in the three months to August 31 widened to USD6.1 million from only USD384,000 the year before. Revenue dropped nearly two thirds to USD4.2 million from USD12.0 million as quarterly production more than halved to 3,029 ounces of gold from 8,626 ounces year-on-year. Furthermore, restructuring of Orosur's Uruguayan operating subsidiary, Loryser SA, which has been ongoing since June, led restructuring costs to multiply substantially to USD3.3 million from USD60,000. A meeting with creditors regarding the Loryser reorganisation is scheduled for December and a court-appointed controller, having filed a report on Lorysur's assets and debts at the start of October, is preparing a second report assessing Lorysur's status and the reason for its current situation. "In parallel with ongoing discussions with third parties, the company has started working on a payment plan proposal agreement with the creditors which should be negotiated in advance of the creditors' meeting," Orosur said. On September 10, post period end, a non-brokered USD2.0 million placement with Newmont Mining Corp and an exploration and venture option agreement with a Newmont subsidiary were agreed. As a result of this deal, Newmont now holds a 19.9% stake in Orosur. The exploration and option agreement includes an earn-in structure whereby Newmont may earn up to a 75% interest in Orosur's Anza exploration project in Colombia. "The board adopted an aggressive strategic plan which is being implemented, with the main objective to restructure its businesses, recapitalize and transform the company by advancing Colombia with Newmont as partner, finding a fair solution in Uruguay for all stakeholders, and reducing its activities in Chile," said Orosur. Shares in Orosur were down 2.0% at 8.23 pence on Monday. By Anna Farley; annafarley@alliancen | big momma | |
15/10/2018 17:12 | Sickie the dope ain't very bright, the company is signalling to shareholders they could be put in administration and the idiot still do not get. It's the company that's informing shareholders via regulated news service. This fool money will disappearing soon. Most probably tomorrow will be a bigger red day. Newmont will pick anza for £1 off creditors | big momma | |
15/10/2018 17:08 | tidy2, we can deduce from the RNS that the court has seized all the assets. There is nowhere that it says that OMI asked them to do so. I don't remember any RNS stating that the court were taking control of their assets (voluntary or not). That's something that certainly should have been explained in detail. ------ And don't forget that OMI reported a $37m loss for last year and now another $6.575m loss in Q1. They are totally bust. The overheads are over $2m a year - so even if the creditors can't get at the OMI group assets (which I am sure that the Govt can for the environmental stuff), OMI are still bust soon. | augustusgloop | |
15/10/2018 16:53 | The source is the RNS | tidy 2 | |
15/10/2018 16:52 | what are you talking about. | siday2580 | |
15/10/2018 16:49 | siday2580 15 Oct '18 - 15:06 - 17873 of 17879 "To be clear...there appears some confusion. Loryser is under voluntary Creditor protection via court. Loryser is also a seperate legal entity. Those liabilities relate to Loryser not OMI." ------------- What is your source? What is 'voluntary creditor protection'? Who are they protecting their creditors from??? LOL Did OMI go to court and say 'please protect our creditors from us'? More like - a creditor went to court for a winding up order. | augustusgloop | |
15/10/2018 16:29 | Premium paid on NEX live 7.9 paid for 189k | tidy 2 | |
15/10/2018 16:28 | Clueless arrives. | tidy 2 | |
15/10/2018 16:16 | Also why would Newmont pay over 200% premium to get a foot in the door. | tidy 2 | |
15/10/2018 15:06 | 58To be clear...there appears some confusion. Loryser is under voluntary Creditor protection via court.Loryser is also a seperate legal entity. Those liabilities relate to Loryser not OMI. Court appointed controller needs to make a list of Loryser creditor claims etc. relating to those liabilities. Controller also makes notes of Loryser assets. Loryser Creditor meeting in Dec 2018.Orosur has plenty cash balance with another $2m to come in. | siday2580 | |
15/10/2018 14:46 | Another interpretation of the deal is: If Newmont had paid $2m for the mine (as per the contract for 90%) - this money would have gone directly into the subsidiary 'Loryser' whose accounts are under the control of the courts. But instead 'buying' $2m of shares in OMI - puts that $2m as cash in control of the holding company - so the Directors can pay their own salaries with it. By the time the court proceedings have played out and demands for payment are enforced on the holding company (as per any guarantees and environmental stuff), most of this $2m will have been spent. $0.5m at least of the cash has already gone. | augustusgloop | |
15/10/2018 14:21 | Can we all agree that in the absence of Newmont, OMI would be bust (given the facts August has pointed out) ? Some are contending that having 2M from Newmont now, and promises of up to 4M more to be handed over some time way into the future, this somehow saves them from being bust now. Clearly nonsense IMO And if Newmont do pony up 30M to develop the new resources, none of that money goes to OMI. It will be spent on the developments!! The final mine will then almost all be owned by Newmont, not OMI. ...all assuming OMI can somehow avoid being bust now. Newmont have, for a mere 2M, simply put themselves at the front of the queue for picking up the assets later this year. I suspect this was seen as a nice way to wrap things up for the charlatan OMI execs, walking away with their accumulated salaries and benefits and avoiding making good at all their mining sites. I had knowledge on these guys way back, and all the bad things I heard and suspected have turned out to be true | bigtbigt | |
15/10/2018 14:09 | There is no sale of Uruguay. They have closed the mine - the gold has gone - 1.3 million ounces stolen from OMI shareholders. If they were selling it - they would have put it up for sale. In Dec they will be selling off the remaining assets - to redistribute to creditors. That is second hand machinery etc. And then they will go into liquidation incurring another $5.4m of environmental costs. | augustusgloop |
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