Blog is a Hit!
Thanks everyone for making this site a great success. We generated over 2000 hits our first week! I hope everyone is as happy with it as I am. I’m very pleased and hopeful that we can carry on and grow from here with info and discussions that help everyone!
warmest regards
caliche
Very , very well done and appreciated. You have always been the voice of reason and informed opinion and , despite the obvious work involved in set-up , this site was long overdue. Thanks for all you’ve done …….
Naples 1
OLE looks to be beginning a breakout….
Yes,,, a super site. Thanks caliche…. Oromin should provide some funding for this. Its much more informative than anything they’ve done. Perhaps even their own WS.
Holding my breath till the Update. Over 2.5 would be a nice gift after all the waiting we’ve done. Any ventured guesses…… on when a Buy Out would be? What price for the Oil when it hits in May… and the price for the B/O ? I still say $5/ gold and $10/ oil…. (15 total) and a b/o end of 09
anyone?
Caliche: Don’t know how to post here, but thought everyone would like to see this…
Oromin Explorations – Continues to Drive Hard and Fast
February 3rd, 2009
This year will be transformative for TSX-listed Oromin Explorations Ltd., with the Sabodala Project in Eastern Senegal advancing to the pre-feasibility stage, and initial drilling slated for the Santa Rosa Dome Prospect in Argentina’s Mendoza Province. Oromin is a well-managed junior company offering rare exposure to both precious metals and petroleum. At Sabodala, the company has outlined an inferred resource of 1.4 million oz. gold within three-near surface deposits (Masato, Golouma West and Golouma South) based on initial drilling of 555 holes to May, 2008. An updated resource estimate based on subsequent drilling is expected shortly, and will include initial resource estimates for three targets recently upgraded to deposit status, including the high-grade Kerekounda deposit.
December 11, 2008
New High Grade Gold Discovery At Sabodala
——————————————————————————–
HIGHLIGHTS
EXCELLENT INITIAL DRILL RESULTS AT KEREKOUNDA WILL QUICKLY ADVANCE THIS TARGET TO DEPOSIT STATUS
KEREKOUNDA DRILL RESULTS INCLUDE:
52.61 g/t gold over 9 metres in DH-360
48.68 g/t gold over 4 metres in DH-367
25.34 g/t gold over 7 metres in RC-463
11.26 g/t gold over 9 metres in RC-480
7.15 g/t gold over 10 metres in RC-458
KEREKOUNDA RESULTS WILL NOW BE INCLUDED IN THE RESOURCE UPDATE ALONG WITH MASATO, GOLOUMA WEST AND GOLOUMA SOUTH GOLD DEPOSITS
http://www.oromin.com/s/NewsReleases.asp?ReportID=331634
Drilling of the six deposits will continue into 2009, along with testing of the next tier of priority targets and completion of the pre-feasibility study by year-end. These developments provide an excellent anchor for Oromin to expand resources at the 230-square-km Sabodala concession, which surrounds a 20.3-square-km concession where Mineral Deposits Limited is building the region’s first gold mine (168,000 oz. annually). Other companies have made discoveries nearby, further confirming that the Sabodala region has potential to rival established gold camps in nearby Mali.
In Argentina, Oromin plans to drill at least two test-wells this year at the Santa Rosa Prospect, which covers a shallow, untested dome structure in the under-explored eastern half of the Cuyana Basin. The onshore concession has similar geological and structural settings as the oil-prolific (1.28 billion barrels) western part of the Basin.
A newly filed NI 51-101 Evaluation Report sets out 131.56 million barrels of oil as the most likely amount of recoverable resources on the project, and US$2.3 billion as the mostly likely net present value. This probabilistic estimate is based on geological, geophysical and seismic data and reservoir parameters, however there is no certainty these resources will be discovered as Santa Rosa is a wildcat prospect.
Despite a horrific junior resource market in 2008, Oromin has continued to demonstrate its ability to greatly add great grade and size to its multiple gold deposits. This is one of the companies I expect to more than survive the carnage of 2008 and to reach many of their goals.
See Exerpts from article today @ Goldseek.com….. ” Boosting Gold Prices” Maybe this is what Chet is waiting for all this time….. he better hurrry up and report the Findings.
Sprott believes there is a chance that a U.S. Treasury auction will fail as countries use their resources to quell financial turmoil in their home markets, leaving less to help finance the world’s largest economy. That outcome will have a “catastrophic” impact, he said.
“When do people stop buying the credit of the country? That’s a tough question to answer, but it’s on a lot of people’s lips right now,” he said. “Each country has their own financial problem, so there’s no funding for anything external.”
Gold Investors
Such concerns have driven investors to the gold market, propelling the metal higher as other commodities have slumped and helping gold-producers’ stocks almost double in the past three months.
Greenlight Capital Inc., a $5.1 billion New York-based hedge fund, has invested in gold for the first time, while Federated Investors Inc.’s $1.3 billion Federated Market Opportunity Fund, which outperformed 99 percent of rivals last year, now counts Yamana Gold Inc. and Goldcorp Inc. among its largest investments.
Gold companies such as Newmont Mining Corp. and Kinross Gold Corp. have taken the opportunity to issue stock to bolster their own balance sheets.
Barrick Gold Corp. Chairman Peter Munk said last week he has been inundated with calls from wealthy investors seeking to buy gold to protect their capital.
“The window to raise money for gold stocks has blown open,” Sprott said. “The investing public has started to go to that one thing that they think it’s safe to invest in.”
To contact the reporter on this story: Stewart Bailey in New York at sbailey7@bloomberg.net.
Last Updated: February 3, 2009 11:14 EST
It sounds like gold will finally have its day. I have been waiting for stories like this to come out. I don’t know if Chet was waiting for this but it sure looks to be the perfect storm for Oromin!!
warmest regards
caliche
Thanks G1, maybe you could call the company and tell them how much you like it .. LOL
agreed on the 2.5, and my guess for a buyout would also be late this year or early next. 10 dollars for the oil side seems realistic, and possibly the same for the gold considering we are hitting such high grades at Kerekounda.
caliche
not much on the offer thats for sure!!
Depth By Price
Bid
Orders Volume Price
1 10,000 0.71
1 14,500 0.70
2 30,100 0.69
2 2,500 0.68
3 15,500 0.67
Ask
Price Volume Orders
0.82 7,000 2
0.83 3,000 1
0.84 7,000 2
0.85 4,000 2
1.00 5,000 1