Grandich says Oromin worth $4.50 on Current Results!!
Peter Grandich comments on Oromin news!
February 28th, 2009
Absolutely great news from Oromin Explorations (OLE-TSX) If we weren’t in economic upheaval worldwide and had just gone through the worst junior resource bear market in history, I’m convinced the share price would be at least five times the current price. You take a lot of beatings in this business so its great to see a company of yours doing so well.
caliche:
5 times current price, but even $4 wouldn’t be bad…
He also used this caveat: “If we weren’t in economic upheaval worldwide and had just gone through the worst junior resource bear market in history,”
I still think we shall see some positive action this week, but we need some institutional interest, as that we inturn drive more retail interest…
G1
lol.. yeah i already think we are trading at a dollar .. but you are correct 4 would be awsome!
Another terrible day for OLE…
could have been worse .. the markets had a terrible day.. look at it this way…oromin is doing way better than citibank!
Caliche:
I love you, but you are starting to sound like a cheerleader. With 860,000 more ounces, Kerekounda looking like a great deposit, I think we all expected better volume and price movement today…
G1
lol ….i think we need more than one .. maybe a whole squad!
do i think the price should be higher?.. hell yeah.. and it will be .. the story keeps getting better and better even-though the markets aren’t recognizing it …every piece of the puzzle makes me more confident that i am doing the right thing holding Oromin (2.26 million ounces and kerekounda) . its frustrating not seeing the stock rise but the fact is it will… i just don’t see the point of negativity..ole has more than doubled from its lows and the broader markets have continued to slide.. these are certainly interesting times..
caliche:
The point of negativity is due to the fact that Oromin is never on time with any of there realease, bury them at 8:25 on a Friday night and do nothing to market there company. I know Chet is concerned with proving ounces and that should be his focus, but between Dave Scott, Agoracom, Otis and Mandy, etc. they have done nothing. In order for Oromin to get the best price to there shareholders(who are actually owners of the company and they work for us), Oromin needs to dedicate some time marketing the company properly and releasing the PR’s in a timely manner and during market hours… We have 2.26 million ounces of gold and a market cap of 40-50 million. With 10 million in cash, the market is valuing the gold at 30-40 million.
All I am asking for is some accountability and transparency which I feel we as owners/shareholders deserve… Just my opinion, we were both here a year ago when we were at $4. bucks, 65 cents is a joke…
Take care,
G1
Hey Goldn1..
i dont disagree with anything you have said .. agoracom’s services have been discontinued O&M didnt do much and as far as i know have also been let go ..i have talked with chet on this point and i think we all agree at this point in the game, ounces are what we need. Im not saying there aren’t challenges with timing .. and i hope those can be dealt with. but playing devils advocate they have always delivered what they said they would, just not within the time specified. They have proven up a multi million ounce property, got a listing on a senior exchange and have a drill ready oil target. Lets see where we are in a month going into Santa Rosa Drilling..
warmest regards
caliche
Just Wondering….
How long OPLE’s money will last. Some say a burn rate of 100k p/ month … and 8-10 mil in reserves. Well…. with the way they treat their investors w/ such shoddy IR,,,,,,no info until the last possible minute…. horrible Press Releases…. hit and miss News agencies ( agoracom) mork and mindy, now god who knows who’s handling it. The price just goes down and down….. coupled with the fact that everybody is tired of how long this thing has takes. Even someone in the Company said he’s tired of all the waiting. What , going on 8 years now?
Can Chet get more funding to take us into 2010? With the low ps, no info, yeaars and years of waiting? How many investors will step up w/ all that? Unless his money Guys are all up to speed on the Inside News/ But I dont think so.
That may be good for us, b/c that may create a sense of urgency on OLE to get a B/O this year. A bit worrisome b/c it’s hard to speed up the Drilling,,,, but he can get some good news out on the street about what the hell is going at the Company, the Gold findings, opportunities etc…. just wondering……
Caliche:
You say they have always delivered, yet alway late. That is an odd way of looking at it. If a company is going to announce a prefeasibility in Feb of 2008, and never announce it, that would be fraud. There Feb Prefeae is announce in June 2008, 5 months late. Every thing they have done has been late, they should stop putting dates out they can’t hit as that tarnishes there credibility.
This is the best stock I own for potential appreciation, yet worst performer, I am down over 1.5 million as it doesn’t pay to sell now. You say the stock has doubled in the last 30 days, but it has also fallen 90% in the last 12 months…
Take care,
G1
Caliche……Pls continue with your excellent blogs , opinions , and milestones….They are sincerely appreciated by most…………REMEMBER–YOU CAN PLEASE SOME OF THE PEOPLE ALL THE TIME–YOU CAN PLEASE ALL THE PEOPLE SOME OF THE TIME—BUT YOU CAN NOT PLEASE ALL THE PEOPLE ALL THE TIME.
Caliche you are Oromin’s online Prozac…While most of us might need a stronger dose of your medication this week than normal, your prescription generally makes me feel good. So please keep dispensing it. Also, I like to think the reason that you are continually optimistic is because you are far and away the most informed person to have ever made an on-line comment contribution in the history of Oromin. You provide corroborating documentation to your claims. You do extensive research. You directly and regularly interview and interface with Oromin management. You have a 100% attendance record at their AGM’s. You attend the trades shows where they are present. You’ve clearly done your homework better than most. Thus, I respect the basis for your Oromin bullishness. I also appreciate you sharing your research findings and informed opinions with all of us. When it comes to information sharing, you are the Robin Hood of Oromin. LOL In all candor, I for one am extremely grateful for all your efforts. Please don’t stop. Oromint
Thank You for your kind words. All i wanted to do through stockhouse and later the private board, was create a community of shareholders to share information. A couple of years later here we are online with our own webpage. I am a shareholder with some years experience in this game and anything i can do to help fellow shareholders make some money I will do. I wish that after years of trading i had more shares than i do (many of you have more than I do) but the truth of this game is that some days are good and some are bad. I have made and lost and made again more money than i care to count. The one thing i would like to impart is that things never go quickly enough when you are making money and go way to fast when you are losing. It can be nerve racking and if i can help calm frayed nerves i am glad to help. The truth is that i have never held a company as long as i have held Oromin, I have also never become as involved with any deal as i have with this one. Granted i have never had so much on the table in one deal either. The information is out there and i have tried to consolidate it in one place with the blog. I urge you to ask anything you can think of and i will do my best to reply. I also ask that you call the offices and talk to Chet or David or Ian. They are easy to talk to and have the answers to your questions. I will admit to calling a few times when things were taking longer than they should and was satisfied with the answers i got .
The times we are living in are undoubtedly interesting! There are so many factors contributing to the stock movements we are witnessing. From month ends to yearly trends in the finance industry to individuals cash needs to macro economic factors price of gold and foreign exchange. Its easy to say why isn’t the stock higher but the answer is not always clear. I have made mistakes and ill conceived assumptions during the latest economic cycle that have decreased my net worth quite significantly, but ever the optimist there is something on the horizon to get the price up. Santa Rosa another million ounces etc. When it all boils down all we need is for demand to outpace supply and the stock will go up. The more information i can put out there to be scooped up by joe internet the more likely they will look at the stock and think what a hell of a bargain. I learned a long time ago not to look at what i have lost but the fact that i made it in the first place means i have the knowledge and ability to make it again. It is really a shame none of you could have seen the wild west days of the VSE with Pez at the helm. It was quite a circus back then making and losing millions just to make it again. I could go on and on about the old days..lets save that for the Naples party post buyout. I could go on with the investment sayings like the best place to find a mine is next an old one, and finding a goldmine is harder than getting hit by lightning, but we already have a handful of deposits and 2.26 million ounces in the books! Oromin has already beat out 98% of all other listed gold explorers and we are still adding ounces. Im anxiously waiting for the spud announcement at Santa Rosa. Optomitic .. damn right i am!!!
Hi Goldn1
if they sit on the results and don’t announce anything, that contravenes securities law but if they announce a planned release date and they dont receive the report till june thats poor time management by srk. its like sony or any other company not meeting a release date .. they are not accused of fraud or anything else .. they just dont hit the target, it happens with everything .. cars, tech, financials ..and yes credibility can be lost..
my opinion is still that we have 800K more ounces for the same price that is a bargain..IMHO ..
warmest regards
caliche
Hey goldfather
i will ask about burn rates when the guys are back friday or on monday..im hoping we have enough reserves to get us to Santa Rosa drilling.. after that we will have “no problem raising money”..
Burn rate is $800-1 million per month…
Cash is $9-10 million
G1
Caliche:
You just made my point, you made a comment that “they always have delivered”, my response is that they have to deliver on there announcements or it is against securities law, they just never deliver on time and like to announce after the market closes or at an inappropriate time…
G1
goldn 1……….You have certainly made your negative thoughts/points as expressed here on this web-site……Why don’t you also express them in writing to Ole mgmt??? Caliche is NOT your personal whipping boy!!!!! nor is is your personal messager!!!!!!! Do your own work!!!
Arlene:
I have regular conversations with dave Scott and they understand how frustrated I am. I also have spoken several times with Caliche, and I do not think he feels I am making personal attacks on him, just voicing my opinion. If it were up to me, I would fire dave Scott and put caliche in his place…
G1
goldn1……You obviously don’t like , respect , or trust David Scott……..Why do you only call him??? My question remains , Why don’t you express your thoughts/points in writing to Ole mgmt.??? Don’t just use this web-site to vent your frustrations and expect someone else to “carry your water.” Do your own work!!!…Caliche is doing a fabulous job that is very time-consuming and doesn’t need to scratch your every itch.
Whoa!.. .. thanks for the vote of confidence G1!.. i was thinking about your comment and im not sure i would want to be head of IR during the global financial crisis..
thanks for your comments .. dont worry im not taking them personally.. 🙂
regards
caliche
Arlene,
thanks for your kind words and it is a bit of work but im glad to help…im sure we will all be rewarded for our patience!
caliche
Hey Caliche,,,,
Thanks for responding about OLE, and their Burn rate.
Well… if you say they wont have any problem,,,,, then I’m w/ you.
But….. they better start their Fund Raising NOW. B/C… they be goin to need it !
No way they’ll be selling out in 09 ( but what do I know). At 75 cents, and 2.2 mil oz. Yes its better & lots more than the 1.4…. but we have a long way to go to egt Gold amounts to attract a B/O and a descent price……..And we all know how slow the Drilling is.
Unless we can get to 3 mil oz quick,,,, and the Pre-feas comes out real good….. but isnt that a long way away ?….. And, maybe Oil hits at SR in the spring….. then we wont need financing.
But I’m a real amateur here… I say we’ll need a lot more money to keep going. Hope I’m dead wrong.
BTW… Caliche… I liked your Poll on the OZ count. Can you do it with SR, and the Oil. I’d liek to see whast evberyone thinks. Not only amount of Oil and barrels,,,, but the timing of when they actually drill. They tell us April…. but I say June/July.
Hey goldfather.. goldn1 actually responded with the burn rate.. thanks G1!..
they wont have any problem if they hit 200 million barrels of oil ..lol..
im not sure if they will add to the update with the other 2 deposits they didnt include last time or if they will wait till the next update and pre feasibility
i will put a new poll up soon!..my bet is mid may .. total wild guess..lol..the last time i heard they were sourcing pipe and wellheads ..
regards
caliche
OROMIN EXPLORATIONS
(OTC BB: OLEPF.OB)
Last Trade: 0.53
Trade Time: 12:42pm ET
Change: Up 0.01 (1.92%)
Prev Close: 0.52
Open: 0.52
Bid: 0.50 x 2500
Ask: 0.54 x 2500
1y Target Est: N/A
Day’s Range: 0.50 – 0.53
52wk Range: 2.11 – 4.10
Volume: 166,000
Avg Vol (3m): 31,642.2
Market Cap: N/A
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A)….Hey CHET and staff..cheerleaders.Sure ot of faith in you.dsh
Depth By Price
Bid
Orders Volume Price
1 2,500 0.86
1 2,500 0.85
1 6,500 0.84
2 9,000 0.83
3 11,500 0.81
Ask
Price Volume Orders
0.88 11,500 1
0.89 15,000 2
0.90 60,000 3
0.96 5,000 1
0.97 5,000 1…depth 8:37.dsh
Oromin Explorations halted at 9:58 a.m. PT
Depth By Price
Bid
Orders Volume Price
2 6,800 1.12
3 9,200 1.10
2 4,000 1.09
1 2,500 1.08
1 4,500 1.06
Ask
Price Volume Orders
1.18 20,440 6
1.19 500 1
1.20 2,000 1
1.22 5,000 1
1.24 4,500 1..Depth 9:50 Vancouver time.dsh
Depth By Price
Bid
Orders Volume Price
2 2,900 1.14
1 5,000 1.13
1 4,700 1.10
1 10,300 1.03
1 1,000 1.02
Ask
Price Volume Orders
1.14 5,000 1
1.25 5,000 1
1.30 5,500 2
1.33 9,000 1
1.39 700 1…Oromin depth Vancouver time 6:20..Not to bad of a hit so far.Forget the oil on to more news from what they know GOLD..dsh
Depth By Price
Bid
Orders Volume Price
1 12,000 0.89
1 10,000 0.88
2 7,300 0.85
1 5,000 0.83
1 10,000 0.82
Ask
Price Volume Orders
0.94 2,000 1
0.95 10,000 1
0.99 1,000 1
1.00 6,000 2
1.05 5,000 1…Morning depth 6:23 Vancouver time.dsh
House Positions for OLE from 20090704 to 20090804
Ex House Bought $Value Ave Sold $Value Ave Net $Net
83 Research Cap 563,000 507,624 0.90 24,000 33,320 1.39 539,000 -474,304
46 Blackmont 106,100 109,835 1.04 22,500 26,887 1.19 83,600 -82,948
93 Toll Cross 248,100 200,230 0.81 175,000 156,250 0.89 73,100 -43,980
121 Jennings 65,500 75,939 1.16 0 65,500 -75,939
15 UBS 56,300 71,821 1.28 1,500 1,618 1.08 54,800 -70,203
9 BMO Nesbitt 64,700 64,890 1.00 10,000 9,100 0.91 54,700 -55,790
88 Scotia iTRADE 63,000 62,120 0.99 14,500 15,960 1.10 48,500 -46,160
2 RBC 108,950 124,909 1.15 61,700 54,097 0.88 47,250 -70,812
62 Haywood 41,700 38,742 0.93 22,700 27,694 1.22 19,000 -11,048
54 Global 48,000 48,474 1.01 29,800 31,997 1.07 18,200 -16,477
44 Jones Gable 42,486 42,829 1.01 36,301 38,167 1.05 6,185 -4,662
27 Dundee 6,500 8,999 1.38 2,000 2,160 1.08 4,500 -6,839
58 Qtrade 7,600 6,614 0.87 3,500 3,545 1.01 4,100 -3,069
79 CIBC 63,400 53,435 0.84 59,400 54,072 0.91 4,000 637
95 Wolverton 2,000 1,600 0.80 0 2,000 -1,600
56 Edward Jones 2,000 2,300 1.15 0 2,000 -2,300
25 Odlum 2,000 2,560 1.28 0 2,000 -2,560
57 Interactive 700 631 0.90 300 267 0.89 400 -364
59 PI 10,000 7,100 0.71 10,000 10,000 1.00 0 2,900
19 Desjardins 9,000 7,300 0.81 10,000 8,900 0.89 -1,000 1,600
65 Goldman 3,150 3,906 1.24 4,600 3,220 0.70 -1,450 -686
6 Union 8,500 8,460 1.00 12,500 15,615 1.25 -4,000 7,155
80 National Bank 13,600 15,925 1.17 19,200 19,247 1.00 -5,600 3,322
89 Raymond James 400 552 1.38 7,000 7,145 1.02 -6,600 6,593
141 Bolder 0 7,500 6,850 0.91 -7,500 6,850
81 HSBC 6,500 7,005 1.08 14,500 13,130 0.91 -8,000 6,125
124 Questrade 1,400 1,424 1.02 9,900 8,536 0.86 -8,500 7,112
14 ITG 5,500 5,210 0.95 16,900 13,632 0.81 -11,400 8,422
43 Caldwell 0 30,000 38,311 1.28 -30,000 38,311
7 TD Sec 120,500 132,293 1.10 176,940 178,218 1.01 -56,440 45,925
28 BBS 49,300 60,270 1.22 143,200 144,931 1.01 -93,900 84,661
33 Canaccord 120,400 129,518 1.08 260,227 272,986 1.05 -139,827 143,468
1 Anonymous 238,600 259,865 1.09 565,100 566,269 1.00 -326,500 306,404
85 Scotia 59,101 63,903 1.08 387,219 364,159 0.94 -328,118 300,256
Total 2,137,987 2,126,283 0.99 2,137,987 2,126,283 0.99 0 0……….Thank goodness for Research Capital buying?dsh
House Positions for OLE from 20090807 to 20090807
Ex House Bought $Value Ave Sold $Value Ave Net $Net
2 RBC 131,000 123,265 0.94 40 32 0.80 130,960 -123,233
80 National Bank 13,000 11,690 0.90 0 13,000 -11,690
44 Jones Gable 1,640 1,520 0.93 300 297 0.99 1,340 -1,223
124 Questrade 0 600 538 0.90 -600 538
7 TD Sec 5,300 5,177 0.98 9,000 8,455 0.94 -3,700 3,278
9 BMO Nesbitt 0 6,000 5,790 0.97 -6,000 5,790
88 Scotia iTRADE 0 7,000 6,580 0.94 -7,000 6,580
141 Bolder 0 7,500 7,125 0.95 -7,500 7,125
85 Scotia 0 10,000 9,500 0.95 -10,000 9,500
33 Canaccord 0 10,000 8,400 0.84 -10,000 8,400
83 Research Cap 0 12,000 10,080 0.84 -12,000 10,080
28 BBS 0 17,000 15,460 0.91 -17,000 15,460
1 Anonymous 5,000 4,945 0.99 26,500 24,340 0.92 -21,500 19,395
93 Toll Cross 0 50,000 50,000 1.00 -50,000 50,000
Total 155,940 146,597 0.94 155,940 146,597 0.94 0 0……….Someone dealing with RBC sure liked Oromin today.dsh
London, Nov. 8: British banking major Lloyds Banking Group is being kept afloat with a massive £165 billion of loans and guarantees from the Bank of England — the United Kingdom’s central bank — and other central banks around the world, a media report said.
Citing a detailed document released last week in connection with a separate £21 billion fund-raising, The Sunday Times said: “The bank (Lloyds) is still ‘heavily reliant’ on government funding.” As per the document, Lloyds drew down further loans early this year…………..**Crises is over**?? dsh
House Positions for OLE from 20091208 to 20091208
Ex House Bought $Value Ave Sold $Value Ave Net $Net
93 Toll Cross 197,000 161,540 0.82 0 197,000 -161,540
83 Research Cap 100,150 85,133 0.85 42,000 36,540 0.87 58,150 -48,593
79 CIBC 22,900 19,181 0.84 7,000 6,090 0.87 15,900 -13,091
1 Anonymous 14,500 11,980 0.83 2,000 1,780 0.89 12,500 -10,200
2 RBC 5,000 4,150 0.83 0 5,000 -4,150
9 BMO Nesbitt 2,500 2,075 0.83 500 445 0.89 2,000 -1,630
7 TD Sec 10,000 8,350 0.84 9,000 7,560 0.84 1,000 -790
44 Jones Gable 200 164 0.82 550 489 0.89 -350 325
28 BBS 0 2,000 1,700 0.85 -2,000 1,700
33 Canaccord 0 11,200 9,184 0.82 -11,200 9,184
46 Blackmont 112,000 93,000 0.83 200,000 164,000 0.82 -88,000 71,000
85 Scotia 4,000 3,280 0.82 194,000 161,065 0.83 -190,000 157,785
Total 468,250 388,853 0.83 468,250 388,853 0.83 0 0………..Lot of juggling today?dsh
Depth By Price
Bid
Orders Volume Price
1 25,000 0.85
1 5,000 0.84
2 6,500 0.83
1 3,000 0.82
2 24,000 0.81
Ask
Price Volume Orders
0.89 5,500 2
0.90 15,000 3
0.91 19,500 4
0.92 19,500 2
0.96 12,600 3……..Depth 10:09 Vancouver time..after the clean up?GLTA..dsh
tons of volume, no price action…