Thoughts and Thanks
Thank you everyone for your kind comments!
All I ever 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 I will do anything I can to help fellow shareholders make some money. I wish that after years of trading I had more shares than I do (many of you have more than I) 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 far too fast when you are losing.
It can be nerve wracking and if I can 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 or the stock was trading a little funny and was satisfied with the answers I got .
The times we are living in are undoubtedly interesting! (literally textbooks will be written about the last years and those to come) There are so many factors contributing to the stock movements we are witnessing; and yearly trends in the mining industry, to individuals’ daily and monthly cash needs, to macro economic factors, price of gold and foreign exchange. It’s easy to ask why the stock isn’t 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… but let’s save that for the Naples party post buyout. I could also go on with the investment sayings like the best place to find a mine is next toan 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! I’m anxiously waiting for the spud announcement at Santa Rosa.
Optimistic .. damn right I am!!!
as always, warmest regards
caliche
Caliche,
I am just encouraged that OLE is going in the right direction (up). I know we all can get very impatient at times, but look at 98% of the Juniors out there, they are all down and possibly going out of business. We will get our payout, but with this historic downturn in the markets, we might have to wait a bit longer. KTF. Stocking up on party supplies for Naples.
Doublem2
They are expected to be back on Friday.Now instead of asking or talking to David Scott go right through to Chet.That way he is getting the whole story and maybe he should hear it?I am holding in even though like yourselves I am VERY disappointed.Ron
You are in the right place at the right time. Excellent and very informative Blog. Very well done. Super kitty outline. Hope it was fed an hour or so ago. mc
Best Blogs
Caliche…Some insight as to a probable timeframe when the following info might be released would certainly go a long way towards calming my frayed nerves……Not knowing anything and watching Ole share price go down to ridiculous levels is significantly increasing my vodka intake……….1)July 24 news release stated preliminary feasibility study would be out “early 2009″……..2) No assays reports have yet been released on any drilling since Xmas break…….3) Update on Santa Rosa re potential drilling timeframe………4) Next target timeframe for next resources update…..5) Any news on anything Ole is doing…………….This being treated like a mushroom and being continually $hit upon is really starting to get to me……..Thx in advance for any insights you may have gained in your discussions with various peoples……… BOB
Caliche……Have you heard anything about “Happenings” at PDAC? Wasn’t Mallo going to speak??? Can we get a copy of what he had to say? Maybe we can get a clue what Ole mgmt is thinking re Sabodala from that….Just a thought…. I’m fishing for any info!!!!
If you had a lot of U.S. dollars?What would you hold THEM or GOLD?I know what i would.Lets hope some wakes up and realizes its possible potential..Rumor around this week about them actually starting the oil drill program?Just the shoeshine boy’s whisper.Wonder what the office has to say..Hold in as we are.Ron
Its not funny but how come we are possibly the only one’s thinking OLE is under priced?Where are the gold companies..investors..brokers..Just more of the same old retail buying.I did some more buying lately?But it never got me any gain only pain?These guys know about as much on how to run a market as I know how to dance?I hope their game plan works?It has in the past for Chet?But this time his stocks for some reason just don’t want to perform like old days?Was it really him or Pezim?For those who remember the old days.Ron
Bendon International (43.% of OJVG) has a significant role in how the Sabodala project develops. It is certainly not just a silent partner and how it plays out its hand has had and will have a significant effect on the stock price of Oromin
from Nov 2007 Oromin Corporate Update
Oromin is also pleased to report that it has engaged Bendon International Ltd. to provide corporate advisory services with respect to the Sabodala project in order to more effectively carry out its role as operator of the Oromin Joint Venture Group Ltd. Bendon has extensive business expertise that Oromin believes can benefit the Sabodala project. It will, among other things, provide analysis of the relative benefits of debt and equity financing as the shareholders of the Oromin Joint Venture Group Ltd. consider making a production decision with respect to Sabodala as well as study and give advice on potential health, education cultural or social development programs that might benefit the Sabodala
This could be good for OLE.
Doublem2
_____________________________________________
Gold Bulls Should Pour Their Winnings Into Mines:
By Carli Lourens
March 16 (Bloomberg) — Gold bulls, flush from a ninth year of gains in the metal, should pour their winnings into mining companies as the shares benefit from falling costs, according to analysts at JPMorgan Chase & Co. and Fairfax IS.
The CHART OF THE DAY shows the FTSE Gold Mining Index, including Barrick Gold Corp., Newmont Mining Corp., AngloGold Ashanti Ltd. and Gold Fields Ltd., has underperformed spot gold for about a year. Surging costs for fuel, labor and steel last year, and declines in global stock markets have pushed the mining index to near a record low relative to the gold price.
“We would expect gold companies to outperform the gold price from here,” John Meyer, an analyst at Fairfax in London, said March 12. “Gold miners are not having to compete quite so much with other miners in terms of skills and supplies. Margins are relatively good in the industry.”
Barrick last month said the increase in so-called cash costs for mining gold would slow this year. AngloGold and Gold Fields, Africa’s biggest producers, expect fewer government- ordered safety stoppages after boosting worker training and upgrading mine infrastructure to reduce fatal accidents.
“Every dog has its day,” said JPMorgan’s Steve Shepherd, Allan Cooke and Abhishek Tiwari in a note. “South African gold equities will have their day in 2009. We expect shares to outperform physical gold during the next six months as the market starts to reward expanding free cash flow and margins.”
Caliche——Surely hope and pray that you are all right….Haven’t seen a post from you in over two weeks…….Trust the market has not turned you into a Dr. Doom and that you are just reluctant to post……More importantly , hope you are still healthy…. Let us hear from our “chosen one”.
Hey Arlene ..
im still around .. im trying to confirm a couple of things i have heard on the street with respect to santa rosa and kerekounda…. all good i assure you .. just trying to confirm before i put anything out there…
thanks for the kind thoughts
warmest regards
caliche
Ahh the good old days .. Pez sure could run a market .. not to mention a single stock..i remember days where pez companies accounted for 49 million of 75 million shares traded on the vse.. Ron, take a look at GRL Gleichen resources it reminds me of some of the old days where a group would groom a shell for a year or 2 before vending in a deal.
caliche
Caliche….
I agree w/ Arline. Would love to hear more of your thoughts on whats going on , and whats NOT going on. Even a Commentary Column once in a while would be great. I know you hyave a lot of other things to do out side of this. But , I think you aare probably one of the most knowledgable people on Ole,,,, so we all would be very Grateful to read/hear.
And i’m sure it will prompt more comments here. And I think thats one of the aspects you wanted to create.
Other than that…. I wdas under the impression that the Oil drilling will be a wam-bam thing. In that, they’ll do 5-6 drills fairly quickly, and we’ll know right away if it hit or not. So basically a quick time frame ( so to speak),,, and once they start,,, it may take 30 days or less. If it hits, it hits. And we’ll know…. At that point,,, ??? how soon does an Oil Company step up to the plate and make a bid? Maye by Mid to late summer,,, we could make some money on the Oil b/o… and would lessen the pain delivered by the Gold. Or is this way too simplified. But lets all remember that Ole bought the Oil Permit about 8 yrs ago…. and I think they had to go thru about 20 bidding cycles to get SR.
Here are some of my questions:
What strategy does OJVG have going forward? Is the plan to explore and sell or to put the resource into production? Does management ever comment on this? They should.
Who /what is Bendon International? A Swiss based Arabian investment group. I can’t find out much more than that. I wonder what else they’re involved with. They are equal partners with Oromin and likely have expertise in debt and equity financing regarding any capital the OJVG might need going forward.
How did the stock price get to the lofty levels of two years ago? How was that promoted so successfully? Were the Saudis involved? At that point there was little to warrant anything even slightly approaching the value today. (I am a recent investor)
Are the Saudis interested in financing construction of a mine? Are they perhaps the eventual takeover candidate?
What explains the abysmal promotional aspect of this play? How transparent are management really being? How capable are they? Are shareholders being duped by the Saudis who will gain a bigger share of the project at a lower than warranted cost when further financing is needed? Or does management have some other modus operandi? This team has had huge success in the past in exploration, but were they good explorers who had the plays promoted successfully by others and have little knowledge or interest in that arena?
OK That’s enough for now.
Let’s get some discussion going.
Now guys what do you expect?For caliche to pull news out of the air.Are we all looking for a fairy g** mother in these trying times?As far as news about OLE he can only comment on what the company publishes??We all know how often that is?sBut do we expect him to get insider information.?With a program with 4 to 6 drills supposedly turning and a possible oil program?We should be getting continuous new.The best is for us to phone the company 604-331-8772..or the fax number 604-331-8773..By pass David Scott and go for the head man Chet…Look at Madison (MMR) another one of Chet’s wonders.Better not its no different then Oromin…In a news release dated 2008/04/14 it started a drill program on the Lewis Nevada Property..Well .I hope MMR share holders get results in their life time.Good or bad..But look at the selling..it doesn’t matter what the price of the stock would be the selling would happen anyway?Maybe its wise to get them out here?Good luck everyone From a Oromin Disgruntled share holder
Where have we heard this before…Taken from Stockhouse MMR..posting..Wow,,,I can’t find that news anywhere else.
What the heck is going on,,,,,could it be Chett has forgotten about MMR,,,,and I mean that,,,,could it be when he got the call from Toasted,,,he then remembered about the news release.
That’s is what I think,,,,,the timing of this release is very suspicious IMO.
Too bad we can’t vote him off,,,,but,,,,he knows we can not,,,,small float,,,,and tightly held IMO
It’s his paycheck,,,,our money,,,,and nothing happens.
We are screwed,,,he’ll do with it what he pleases……
I feel as if MMR could care less about the small investor.
I am also surprised you reached Chett,,,,I have tried calling,,,get some IR guy who tells me that he is sitting on a ton of shares,,,,and he is totally burned…..LOL
I think he said his cost was over 0.75 a share,,,,,and same with plenty of other investors.
The question is and only a question. I have no knowledge of his holdings. But I have read the Canadian insider reports often and have never seen his name appear. When ever I have read the companies reports it has never shown up .So has anyone ever seen David Scott’s name appear as a share holder of any of the companies..Lund..Madison or Oromin? He might not have to report as he may not own enough stock to make him an insider. I think and could be corrected you may be able to own up to 10% before you are required to report. I also don’t know if working in the companies office would make you have to report your holdings. Let hear your feelings and thoughts. Maybe someone has the proper knowledge of what requires a person to report. Remember these are only questions and he might not have to report as an insider.DGS
come to think of it i have never seen his name anywhere either ..
See below. They all just exercised options at $.25 last month so they are free to sell these at a nice profit. Wonder which one I just bought shares from today?
stateside
Mar 05/09 Feb 24/09 Turnbull, Douglas Stewart Direct Ownership Common Shares 51 – Exercise of options 20,000 $0.250
Mar 05/09 Feb 24/09 Turnbull, Douglas Stewart Direct Ownership 51 – Exercise of options -20,000 $0.250
Feb 27/09 Feb 03/09 Bartlett, Derek Direct Ownership Common Shares 51 – Exercise of options 20,000 $0.250
Feb 27/09 Feb 26/09 Bartlett, Derek Direct Ownership 51 – Exercise of options -20,000 $0.250
Feb 25/09 Feb 24/09 Mallo, David William Direct Ownership Common Shares 51 – Exercise of options 5,000 $0.250
Feb 25/09 Feb 24/09 Mallo, David William Direct Ownership 51 – Exercise of options -5,000 $0.250
Feb 25/09 Feb 23/09 Dragovan, Nell Marie Direct Ownership Common Shares 51 – Exercise of options 20,000 $0.250
Feb 25/09 Feb 23/09 Dragovan, Nell Marie Direct Ownership 51 – Exercise of options -20,000 $0.250
Feb 18/09 Feb 17/09 Idziszek, Chester (Chet) Direct Ownership Common Shares 51 – Exercise of options 120,000 $0.250
Feb 18/09 Feb 17/09 Idziszek, Chester (Chet) Direct Ownership 51 – Exercise of options -120,000 $0.250