Latest thoughts
The saying the market never lies is always true. We made a terrible mistake and didn’t listen to what it was telling us. The upcoming dilutions of 80 to 100% will cut the long term loyal shareholders’ profits in half. We have stuck with them for years and now we get the carpet yanked out from under our feet. Any new group coming in now will take the cheap financing and throw it back in our faces at a 50% gain. If I were to get some cheapie 50 cent financing I would take .75 and walk. I expect that is whats happening here. Shareholder loyalty has been destroyed, sentiment is in the toilet. If they had any sense of loyalty they would have done a rights offering to give the long term holders an opportunity to participate and average down. Instead, I hear they have offered the placement to a new group. I can’t tell you the disappointment I feel towards the management and the anger at myself for not listening to what the market was telling me. We will continue holding; I have cut our expected gains from 4 to 5 dollars to 2 to 2.50, possibly less depending on how badly the new group screws us. IMHO the highs of last year will never be surpassed we should have listened to the market… it never lies!
hoosier1…boy you got a good memory to remember all that?This comment As for why now on raising the money – asked that too – did not think they would need it – or prepare to need it…Now with the stock at a near low and with a possibility of a gold resource..money still in the coffers.We have to raise money…No not at $2.00 to $4.00..Brain dead.dsh
I have a pretty good memory dsh.
I apologize if anything I wrote or submitted has caused you or anyone undue stress.
Please, call them yourself.
h1
hoosier1….so the authorized number of shares changed “almost a year ago”……I must have missed that notification…..Did you ask how they informed existing shareholders ?(or did they just do it quietly and hope no one noticed? If so , I consider that a breach of trust)…A “convenient mistake” to keep the web-site at 100,000,000 ???
Fellow Oromin share holders.We wouldn’t be in this state of negativity.If the company would be forth right with news that would be more up to date & possibly on time?In the past they were always blaming lateness on how busy the other companies were?Which might have been true..but what about now?With all that is suppose to be happening on the property..possible 5 drills working-sampling etc.We should possibly be getting news more often?But I understand the company possibly thinks its a waste of time keeping the share holders/ investors up to date.Instead we are thrown bones about every three months if we are lucky.I have owned other companies that keep their share holders more up to date then this one.Now (just thinking out loud) you would think that future investors taking the PP (MIGHT) want access to more results?You wouldn’t think that they would possibly invest Millions of dollars without access to maps and whatever they need to make a decision?You fill in the rest.Come on lets here from the rest of the share holders on the blog..Hope you have questions or respond to what’s happening with our company?Might be the only way they might change the possible PP or have it offered to us share holders?.dsh
Has anyone seen the up to date report on the following???Since December and subsequent to this resource estimate, an additional 47 drill holes have been drilled at Kerekounda extending the mineralized zone from 250 to 500 metres along strike and from a depth of 200 metres to 300 metres down dip. Nearly identical alteration and mineralization is being observed in the majority of the new drill holes including the three deepest holes (DH-426, DH-427 and DH-428) designed as down-dip tests ranging from 55 to 130 metres down dip from previous intersections of the Kerekounda mineralization.
Arlene
No I did not ask when…I do know that in the Company’s Feb 29, 2008 Financial Statement stated Unlimited Shares and I believe that was public/filed sometime in Sep of 2008. The prior Financial Statement for ending date of Nov 30, 2007 still stated 100M.
h1
dsh—I believe that the information you reference was included in the April 14 news release..Correct me if I am wrong…
My dog thinking out loud about the possible low PP?The PP is possibly in someone’s favor at this price?But not ours as shareholders.We will have to see how much they take down themselves?If any?Mind you if not taken down at the time..its possible to transfer at a latter time?Our pooch is only guessing that this could happen?Wouldn’t you like to have some of it?dsh
The following was taken from Stochouse post
Please send this to Chet and to show him what Oromin should be getting on their PP if they had any kind of investor relations program at all. Again, compare the charts.
Keegan arranges $14.4-million bought deal
2009-05-04 16:49 ET – News Release
An anonymous director reports
KEEGAN RESOURCES INC. ANNOUNCES $14.4 MILLION “BOUGHT DEAL” FINANCING
Keegan Resources Inc. has entered into an agreement with Dundee Securities Corporation and a syndicate of underwriters, including Canaccord Capital Corporation, Clarus Securities Inc., Paradigm Capital Inc. and Wellington West Capital Markets Inc., under which the underwriters have agreed to purchase on an underwritten basis six million common shares of Keegan at a price of $2.40 per common share for total gross proceeds to Keegan of $14.4-million. Under the agreement, the underwriters have an overallotment option to purchase up to an additional 900,000 common shares for $2.16-million in gross proceeds. The proceeds of the offering shall be used primarily for general and administrative expenses and for working capital.
The common shares to be sold under this offering will be offered by way of a short-form prospectus in the provinces of British Columbia, Alberta and Ontario and the common shares to be sold under this offering will be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.
The offering is scheduled to close on May 26, 2009, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange, the New York Stock Exchange Amex and other applicable securities regulatory authorities
arlene2 you are right.With all the negativity going on with this company?I am missing the positive’s.Still no reason for taking how many years to drill an oil property?Mind you Argentina is probably a nice place to visit in our dreary winter days. But if we are lucky we might get news from the company even if we didn’t need it..Again are the possible new or old PP takers going to risk money on what we have been fed so far or?I guess we would at this level with possible WARRANTS..lucky investors?Throw us a bone or two please.dsh
dsh–We all need to focus on the positives just a little bit more…….After all , we do have a great gold play as well as a great wildcat oil play…AND we are on the home stretch….Let’s wait to see what the funding turns out to be…If enough current shareholders actually do e-mail Chet expressing their displeasure re the rumored funding , we may even yet get that bone that you speak of.
Depth By Price
Bid
Orders Volume Price
3 22,000 0.61
2 10,000 0.60
4 34,000 0.58
3 16,000 0.57
1 10,000 0.56
Ask
Price Volume Orders
0.65 6,514 3
0.66 2,500 1
0.67 2,500 1
0.69 5,000 1
0.70 2,500 1….Maybe Chet has come to his senses?Maybe this talk about a low PP was a pipe dream..Lets hope so?Sure brought out the negativity?This is the best I have seen Oromin bid in a long time?DSH
Depth By Price
Bid
Orders Volume Price
1 4,500 0.66
1 4,000 0.65
2 5,000 0.63
1 2,000 0.62
3 19,000 0.61
Ask
Price Volume Orders
0.70 10,500 3
0.71 2,500 1
0.72 2,500 1
0.74 5,600 2
0.75 9,800 3….Cheer leaders..See if I am wrong but only thinking out loud and have no knowledge if I am right or wrong?But to me and possibly some others that their seems to be a cap at .70?You would have to be desperate to sell here after the news we just received from the G*** above..Well the cheer leaders will say its better then .50?Got to agree with them for the first time..1 Anonymous 91,500 57,885 0.63 273,000 176,585 0.65 -181,500 118,700…Whoever they are is the big seller in the last 30 days..Have a good long weekend..I hope some can live with themselves..Poor & grammar not at the best but at least I don’t have to duck into back lanes. dsh