Orosur Mining Share Discussion Threads

[l1tecoin] 24/10/2018 19:55

Sorry people my big bro can be rude sometimes but in reality he can't tie his own shoe laces let alone short lol Trust in L1

[l1tecoin] 24/10/2018 19:50

You sound like a cun7 ? ;-)

[pebsi] 24/10/2018 19:40

Come on bullet, you’ve been quiet for too long :-)

[pebsi] 24/10/2018 19:38

Still wish I’d listened to you on imm. Fast forward a year and that’s history. Carnage. I learn from my mistakes but this is a sound investment imo. Short medium and long term. One solid rns and this one’s going places. Fall back is 5.4p. Come on mate, tell me I’m right

[pebsi] 24/10/2018 17:35

Afternoon b1. You’re invested in ggp atm? Me too. Chuck omi a few quid and join in here as a believer. Or resurrect bullet ant. I miss that guy!

[pebsi] 24/10/2018 16:53

So what do you think his end game is August? What's 3 months in the grand scheme of things? Better strategy would be to get Anza proved up working with nm and make omi a viable company moving forward building on it's work in securing Anza up to this date?

You're right I don't know the guy but I take his comments in that particular rns on face value (rightly or wrongly).

[augustusgloop] 24/10/2018 16:34

pebsi,

this is not Newmont hoodwinking him.

He gets control of the $2m - instead of the Administrators.

Can pay all his own expenses and directors salaries.

Keeps the gravy train running for a few more months.

If you did some research on his previous statements - you would know not to rely on their accuracy.

[ikys786] 24/10/2018 16:25

B1 is a genuine fiddler here ! He's NOT shorting this as can't give details on company the short is with of his position ? Surely if everyone shorts this it will tank quick won't it b1 the genuine fiddler RAOTFL ! NO B1 THE FIDDLER is a troll here trying to scare folk out of selling so he can buy in lower as he's missed the boat ! Wake up

[pebsi] 24/10/2018 16:18

Thinking about it it is nm that are the real idiots - couldn't they have just bought say 10% and their dastardly plan would still have worked? They wanted to buy more!!!! I should be on their BOD. I could have saved them a few quid!

Joking apart, nice to have a bit of discussion in this b.b. for a change

GL all invested and thanks to the none invested trying to save me money. Much appreciated

[ikys786] 24/10/2018 16:15

August is as much use as a chocolate tea pot on this board with his trolling laughing out loud ! b1 I'll have a milk chew please you genuine fiddler

[pebsi] 24/10/2018 16:11

Ignacio Salazar, CEO of Orosur, commented:

"We look forward to re-commencing exploration efforts at Anza shortly and are excited to add the breadth of Newmont's exploration pedigree and backing to our efforts."

Little did he know nm where hoodwinking him. August have you emailed him to tell him nm's real plan?

[augustusgloop] 24/10/2018 16:04

And none of this matters to OMI shareholders - because you get nothing whichever way it goes.

Uruguay is bust - and any money you get from Newmont, will all go on Director salaries and expenses. (average $2m a year)

[augustusgloop] 24/10/2018 16:02

If OMI goes bust - the Newmont contract is still applicable to the Anza asset.

So, who else would buy it?

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Without this contract, the Anza asset is probably worth between $5m and $10m.

But its worth far less now to anybody - except Newmont.

[ikys786] 24/10/2018 15:52

Where's b1 ? Down the local sweet shop I expect buying a pick and mix bag for the local youth club tonight rofl ! Trust b1 the fiddler ! I wouldn't even trust him with my cat

[ikys786] 24/10/2018 15:48

And think wallywoo if Orosur went bust it would also start a bidding war by other majors wanting Anza so it's in Newmonts interest to help and support Orosur think of it as a big brother helping out the little brother guiding him!

[pebsi] 24/10/2018 15:45

Wouldn't the asset go to the administrators for sale to the highest bidder to pay off creditors? i.e. nm loose their interest in anza and may have to bid against another major to get it back?

[augustusgloop] 24/10/2018 15:42

ikys,

I take it that you are new to investing in gold miners and have no experience of investing in AIM companies?

Also look at the history of OMI.

Shareholders owned a mine with 1.3 million mineable ounces.

Shareholders paid $70m to build the mine - gave them another $10m whilst mining the 1.3 million ounces (sold for about $1,300,000,000).

Shareholders got nothing back and are now left with massive debts.

Somebody probably has pocketed $200 million here!

[wallywoo] 24/10/2018 15:41

Augustus, that's rubbish if they left OMI to go bust before they bgt their stake Newmont could of just cherry picked the assets off the administrators.

If OMI go bust now, Newmont will own 20% of company worth nothing, and nothing of Anza (an agreement with OMI will also be null and void and still need to buy it off the administrators.)

Remember they need to spend $10M to own 51% of Anza over 4 yrs and $2M cash to OMI. So none of that would of happened.

A much better return for them would be to use their massive influence to get Uruguay up and running again and OMI share price and their investment goes up massively

[pebsi] 24/10/2018 15:34

I thought they bought 20% of OMI that own the asset and nm are financing it's development. It's a multi-staged deal that extends past the 4 month nm sell off period.

To me that would suggest it is in nm's interest to spend those 4 months either proving the asset is worth developing or worth dumping. In other words I expect they will be eager to work with omi in the remaining 3 months for hopefully everyone's benefit.

I don't no nm's BOD that well so they might be underhand rob-dogs?? Time will tell.

At least if they go bust at Christmas it will be during my holiday so I can have a good drink while liking my wounds.

[augustusgloop] 24/10/2018 15:34

Consider it this way:

If OMI go bust and Newmont hadn't done the deal - they may have had to pay between $5m and $10m for the rights to this asset.

But now if OMI go bust - they will have picked the asset up for about $2.5m
AND have a taxable write-off of $2m on the shares.

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So Newmont are in no way being stupid on this deal.

The deal is better for them if OMI go bust -- because then they get full control, a tax write off and no interim payments when proving up the mine.

[augustusgloop] 24/10/2018 15:23

wallywoo 24 Oct '18 - 11:25 - 18115 of 18123

Augustus thinks that Newmont would be stupid enough to buy 20% of a company a couple of months before it goes bust.

They would of done substantial due diligence. IMO we will not have long to find out the future of Uruguay for OMI. In the meantime it will be bouncy castle time!

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Not stupid at all.

The shares are worthless.
But they didn't buy $2m of shares they paid $2m for the fraction of the licence over Anza that they attained.

Since a 100% purchase of the Anza licence would have cost them at least $5m -- this was a bargain.

But getting the shares with this deal means:

1) the OMI Directors can pay themselves with this money - without it going through the Administrator

2) When OMI go bust in December - Newmont can claim the loss against tax - and still have the asset, which now they are going to get 100% from the administrators for just a small extra payment.

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So no need for due diligence on OMI --- you get for $2m what would have cost over $5m AND get a tax write-off on this $2m.