The Gold Report
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Experts Commenting on This Company
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Oromin Explorations Ltd.TICKER: OLE:TSX; OLEPF:OTCBBOromin Explorations Ltd. is a growth-oriented resource company focused on exploring the OJVG gold project in Senegal, West Africa. OJVG is an advanced-stage, low-risk, construction-ready project. The company recently announced a robust carbon-in-leach (CIL) feasibility study and mineral reserve update on the project as well as a positive heap-leach PEA update. The total Indicated resource for all deposits at OJVG is 75.21 Moz grading 1.73 Au, containing 0.96 Moz Au. As set out in the 2013 CIL feasibility study, the project's current Probable reserve is 2.34 Moz (28 Mt grading 2.59 g/t). This is currently the largest gold reserve in Senegal. |
The information provided below is from analysts, newsletters and other contributors. Please contact the company and visit its website before making an investment decision.
Expert Comments:
The Gold Report Interview with Peter Grandich (5/13/13) Peter Grandich: Oromin Explorations Ltd. has the single largest set of deposits in a country where gold deposits and gold mining is growing—Senegal. If it were not for this horrific bear market, the share price would be a lot higher. There are concerns of its ability to finance given what's happened to its share price, but I suspect it could combine with its neighbor Teranga Gold Corp.
TGR: How would investors benefit from that deal?
PG: This is one of the true rarities where combining is better for both of the companies. . .what Teranga has going for it is its mill. . .Oromin, on the other hand, is in partnership with one or more other parties on a series of deposits that have about 5–10 Moz. It would be fairly expensive to build its own mill and foolish when the company next door has one and can use all the ore it can get in the coming years. The outlook for each company is vastly improved if they combine. More >
Peter Grandich, The Grandich Letter (4/22/13) "My belief is that the logical move is for Teranga Gold Corp. and Oromin Explorations Ltd. to merge. . .never have two companies seemed to need each other and are better off as one versus two separate concerns. . .Oromin appears to be an answer to most if not all of Teranga's questions and, best of all, it is very cheap right now."
ResourcesWire Interview with Peter Grandich (3/22/13) "The world still needs small entrepreneurial companies that find the bulk of these deposits to go out there and look. I guess that is what keeps me going. With that in mind, my largest holding is Oromin Explorations Ltd. The company has made it clear and said it more than once that the main goal is to sell its project. I think that will happen. . .and think that's one of the more likely scenarios."
Barry Allan, Mackie Research Capital (2/5/13) "Oromin Resources Ltd. has released an updated carbon-in-leach feasibility study comprising of an open pit and underground portion, as well as an updated PEA on an additional heap-leach component. . .the heap-leach PEA fell largely in line with our expectations. . .and there is a higher-than-anticipated sustaining capex and a more modest production profile. . .but with a more conservative approach, we still see value."
The Gold Report Interview with Peter Grandich
(12/10/12)
"Oromin Explorations Ltd. has the footprint of a company that's heading in the takeover direction. To begin with, the company has made it known multiple times for almost a year now that it has engaged an investment banker to explore all sorts of strategic potential factors, including being taken over. Second, the country in which it operates, Senegal, has been actively promoting that district as the next up-and-coming gold district in Africa and the world.
Third, for another public company that has a substantial position already in Oromin, that has built a mill near Oromin's projects and that will be forced sooner or later to look for resources elsewhere, it makes a lot of sense for it to look at Oromin as an acquisition. The combination of both of them coming together could then pose a very attractive takeover and another bump up by someone even larger in the area. It's a combination of all of these factors, plus Oromin has been around a long time. It's been a story that's been in development for years."
More >
Oromin Explorations Ltd. Content
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An Interview with OLE CEO Chet Idziszek (3/21/13)