|As predicted Karasat Trading FZE couldn't come up with the cash. All I want to say to all those people who thought that this was a potential multi-bagger ..... told you so....|
|Looks like they're going for gold this time probably to line some oligarch's pockets.
Orsu Metals Corporation Announces Exclusive and Binding Heads of Agreement for the Proposed Acquisition of the Sergeevskoe Gold Project in Russia|
|Any life in this old Dog? When do they get the cash?|
|Price showing at 1.72 on my account. Of course part of that is sterling weakness....
|So who kept touting that the Akdjol-Tokhtazan Project was worth millions? Sold for $1!
The rest of the money is due after commencing production ..... LOL
This is like all of the minor companies Metal Tiger keep throwing their money at. Mining "assets" with virtually zero chance of becoming productive.
More than likely that Karchiga will not be finalised before the year-end.
So Dimeless, why did MTR buy Orsu?|
|LONDON, UNITED KINGDOM--(Marketwired - Aug. 2, 2016) - Orsu Metals Corporation ("Orsu" or the "Company"), the London-based TSX-listed (TSX:OSU) company, announces that its wholly owned subsidiary, Lero Gold Corp. ("Lero") has entered into an agreement (the "Sale and Purchase Agreement"), with three arm's length individuals (the "Purchasers"), to sell its 100% interest (the "Equity Interest") in Tournon Finance Limited ("Tournon"), which owns 100% of Oriel in Kyrgyzstan LLC, ("OiK") and which in turn holds the Company's interest in its Akdjol-Tokhtazan Project in the Kyrgyz Republic (the "Transaction"). The Company has been actively seeking to sell this project since the end of 2011.
The key terms of the Sale and Purchase Agreement, which will be filed on SEDAR, are as follows.
•The Equity Interest will be sold for an effective initial consideration of US$0.5 million comprising ◦the nominal sum of US$1, and
◦the Purchaser's assumption of the existing liabilities of OiK, estimated at US$0.5 million.
•In addition, the existing interest free loan, payable on demand, of approximately US$4.19 million between Lero (the "Loan") and OiK will remain in place and the Purchasers may, within two years of the effective date of the Sale and Purchase Agreement (i.e. on or before August 1, 2018) elect to ◦purchase the loan for the sum of US$2 million, or
◦cancel the loan upon the payment by the Purchasers of the sum of US$2.0 million, or
◦in the event that the Purchasers do not elect either of such options, the loan will become repayable within three years from the commencement of production at an interest rate of LIBOR plus 5%.
•Deferred consideration of US$2 million is payable from production revenues over the first two years of production at the Akdjol-Tokhtazan Project, at US$250,000 per quarter from the commencement of production ("Deferred Consideration").
•The Transaction is subject to normal commercial conditions, including formal exchange of documents and re-registration of the licences in the name of the Purchasers, which are expected to be completed within two weeks.|
Executive Interview - Orosur Mining
Edison Investment Research
Published on Jul 12, 2016
Orosur Mining owns (100%) and operates its San Gregorio gold mine in Uruguay. It also explores for gold close to San Gregorio and further afield in Chile, at the Anillo gold property. It also owns 100% of the highly prospective high-grade Anzá gold property in Colombia. San Gregorio has been successfully managed through the worst mining down-turn in recent memory, with all-in sustaining costs reduced to under US$1,000/oz (via careful mining, a reduction in-head count, general cost optimisations and central government support). With increased uncertainty worldwide and a positive return of sentiment towards gold, a rising gold price will provide greater funds to expand production in Uruguay as well as opening up its Chilean and Columbian opportunities.
Orosur Mining Inc. is a South American gold production and exploration company. ... The Company operates the only producing gold mine in Uruguay
|Return of Capital would be best, but this board won't follow Petromanas as they think it is all their MONEY.........
CALGARY, May 20, 2016
CALGARY, May 20, 2016 /CNW/ - Petromanas Energy Inc. ("Petromanas" or the "Company") (TSXV: PMI) is pleased to announce that following post-closing adjustments for the sale of substantially all of the assets of Petromanas Albania GmbH, Petromanas' wholly-owned subsidiary, for US$45 million (the "Transaction"), the amount of the previously announced cash distribution by way of return of capital (the "Distribution") has been fixed at CAD$0.08 per share for an aggregate amount of CAD $55.5 million.
The record date for the return of capital distribution will be June 1, 2016 and the Distribution will be paid on June 7, 2016. The Distribution will be funded from the proceeds received by Petromanas in connection with the Transaction which was approved by shareholders at the Company's annual general and special meeting held on March 14, 2016.
The Distribution will be made in accordance with the "due bill" trading procedures mandated by the TSX Venture Exchange for large dividends and distributions. The purpose is to result in traded shares carrying the value of the Distribution until it is paid. A due bill will notionally represent the CAD$0.08 Distribution that a holder of a Petromanas share is entitled to receive. A due bill will attach to each share traded, from the second trading day before the record date for the Distribution until the date on which the Distribution is paid. During this due bill trading period, the shares will trade on a "due bills basis", meaning a seller of shares will also sell to the purchaser the entitlement to the Distribution (which is represented by the due bill attached to each share sold). The due bill period for the Distribution will be May 30, 2016 to June 7, 2016. Anyone acquiring the shares up to and including June 7, 2016 will be entitled to receive the Distribution. The shares will commence trading on an ex-distribution basis (without an attached "due bill" entitlement) effective from the opening of trading on June 8, 2016, the next trading day following the Distribution date. The due bill redemption date will be June 10, 2016 (the second trading day after the ex-distribution date, when all trades with due bills attached have settled).
Shareholders do not need to take any action. Petromanas' transfer agent will send to registered shareholders a cheque representing the return of capital and beneficial shareholders will have their brokerage accounts automatically updated to reflect the Distribution.
Filing of Q1 Financial Results
The Company also announced that it has filed its financial statements and related Management's Discussion and Analysis ("MD&A") for the quarter ended March 31, 2016 on SEDAR. The financial statements and MD&A will be available at www.sedar.com.
Directors and Officers
Subsequent to the approval of the Q1 2016 financial statements and MDA and the setting of the record date in respect of the Distribution, Mr. David Farrell, Mr. Thomas O'Neill and Mr. Robert Kang were appointed to the Board of Directors and all of the incumbent directors of the Corporation resigned. In addition, Mr. Verne Johnson resigned as interim CEO and Mr. Bill Cummins resigned as interim CFO and Corporate Secretary. Mr. David Farrell was appointed as CEO, Ms. Harpreet Dhaliwal was appointed as CFO and Tally Barmash was appointed as Corporate Secretary. The Company has retained Fiore Management & Advisory Corp for financial advisory and corporate administration services
Read more at hxxp://www.stockhouse.com/news/press-releases/2016/05/20/petromanas-announces-record-date-and-amount-for-return-of-capital-restructuring#dSP5xc0ERMsArZ6m.99|
|Letmejump been impaled. Amen
You have been marked letmejump, you are radar down.|
|Now over to Canada... See what happens there in the next month|
|I will be buying more on the delisting from Aim day. Fingers crossed for 1p. Been a decent share so far for many with lots of spikes. Two Aim shares I bought on delisting came in big time....contentfilm was a 5 fold win. Look at tsk chart above.....doing well...but punters dumping in Aim for big losses. Barking.....a bit of patience here will pay off.|
|Nearly jumped in here today glad I didn't another load of casualties impaled on an aim spike.|
|and you need to look at the chart. Mugs just buy without knowing that many were sitting on a lower average and guess what they sold in the spike. Yes some chancers made money on the momentum and fair play to them. I hd a very quick scalp too, just for fun.
Before I rushed in any dogs, I always check daily chart as unlike letmejump getting impaled on a 10 feet bargepole is not my thing.|
|Three more trading days on Aim.
Then a very long wait till all the other conditions are met. 50 / 50 completed by October 2016. It could drag on for a while.
Then the management will "look" for opportunities to enhance shareholder value... ROFL!|
|Very true, but it's to be noted it rose on the back of US$100,000 deposit, which is about 1.5% payment
This deposit can be forfeited. If it was $1m deposit then maybe a different story.|
|Delisting at a time that long suffering AIM shareholders might be able to cut their losses at a possibly better share price ahead
They can be kept and traded over on TSX according to my broker HL, but phone traded.|
|But if you are feeling courageous come back and buy the day before delisting|
|MMS will be ticking to 1.5p.
That delisting is what causing the sells. No one wants to hold a shares that's being delisted on the aim|
|letmejump got impaled. LOL. He has been marked.|
|I am not ready yet. Itchy fingers|
|BR dont think it is gonna go any lower pal|
|I may buy some at the right price for a punt.|
|Letmejump where are you?|