Things looking better
This afternoon the bids looked better, lined up like they should have been all along. I have a rather lengthly letter in to the office and am awaiting a response. Chet was out of the office for a few weeks and David sent me a very brief response acknowledging the office received it. He however is also out of the office for an unknown amount of time? Anyone know where everyone went?
I would love to get the optimism back but watching oromin languish while everyone around me is making between 250k and a million SO FAR this year is getting very frustrating. Thank God i have GRL to keep my hopes up (GRLFF for those of you south of the border )
I will let you know what i hear back form the office as soon as i get a response
I am usually the the more conservative one on this board, but 4 million ounces by
the end of 2009 seems extremely low. With all of the hype about the high grades
at Kerekounda, I would hope we would see close to 4 million by the prefeasability
study. The latest update which increased the amount of ounces by 860,000 only
included 27 holes from Kerekounda and they were conservatively capped.
Since they are concentrating on the high grade areas, we should see well over an
additional 860,000 ounces and hopefully closer to 1.5 million +/-. The stock price
still sucks and our shares will be diluted, but I am hoping for a positive surprise
and hopefully attract some attention to the stock, as if the stock continues to
flounder after the pre feas, i am going to take my losses and move on…
G1
goldn 1 —I still think you are too conservative…..You didn’t even mention Niakafiri or Maki Medina which were not included at all in the last resource update(2/27/09)…Niakafiri may be similiar to Masato (see news release 01/12/09) so I believe there will be a million more ounces between these two deposits included in the pre-feasibilty….Probably know more when next assay report released….My guess on that is late June / early July timeframe…….When is the AGM scheduled for ’09 ?
goldn 1—–PLUS there are many other areas identified as potential gold deposits…In fact , drilling has already started at Sekoto , Cloverleaf & Korolo gold zones…..I personally believe when buy-out time comes , there is a reasonable chance OROMIN can talk about 10 million ounces…The pre-feasibilty report will give an indication as it will include a “blue sky” projection…
once the modeling is done for each deposit it can be added to unless new data requires the model be updated .. but yes once it is done it should be faster to add new data
they are still generating new models for each deposit so i dont know how much faster it will be ..
niakifiri may be part of masato!
cloverleaf is interesting and korolo i have heard good things , a while back . i hope its as good as kerekounda
Caliche—-I THINK they are considering Masato and Niakifiri separately…..The 2/27/09 news release stated that resource update completed at Masato and was continuing at Niakifiri……
You’re not following suit very well…I will NEVER LOWER myself to the drum beat of the cheer leaders AGAIN?Been their before and where did it get me..Lost a good % of our profits..I know its my own fault..but never again.How can anyone in their RIGHT MIND be happy with the possible dilution of the companies shares?I might not be good at grammar..but I know when I am possibly be done in with math ?Dilution–dilution–dilution..If you don’t think more shares and warrants might not have an effect on the top line..I will say it again..it should never be possibly happening at this level..it would have been nice if it was offered to existing share holders??.Going to be interesting to see if it does come about?Who’s going to be the fools to buy up the shares?It sure won’t be us..does that tell you that we may be selling on the possible way up..not going to be caught again holding the bag?So buyers beware.But I may be jumping to conclusions and it may never happen?All this might be only a bad dream?I hope it is…dsh
dsh—-Give it a break…Yes , we understand that dilution , dilution , dilution gets you frustrated……….BUT your repeating , repeating , repeating is giving me frustration…Come up with some new info/opinions or stop posting , posting , posting…
Here is something to consider when trying to anticipate the next resource figure. NI 43-101 requires that a new report be issued when there is “a 100 percent or greater change, from the most recently filed technical report prepared by a qualified person who is independent of the issuer, in total mineral resources or total mineral reserves on a property material to the issuer.” If OLE announces a number greater than 2.8 million ounces, they must immediately begin work on a new 43-101. That takes up a lot of administrative time and energy. My guess is that they will cap the number at around 2.8, drill like crazy throughout the summer and fall (they have permission to drill through the wet season) and then announce a much larger number around Christmas, just in time for a b/o offer.
Another deposit to add to the list:
A NEW HIGH-GRADE DISCOVERY AT SABODALA TO COMPLEMENT
SIX OTHER GOLD DEPOSITS
HIGHLIGHTS
NEW GOLD DISCOVERY NEAR KEREKOUNDA DEPOSIT IDENTIFIED BY
RECENT DRILLING
ADDITIONAL DRILLING RESULTS AT KEREKOUNDA DEPOSIT DEMONSTRATE
FURTHER CONTINUITY AND SIZE EXPANSION
SRK’S PRE-FEASIBILITY STUDY CONTINUES ON SCHEDULE TOWARDS Q3
COMPLETION
LATEST DRILLING RESULTS INCLUDE:
o 12 metres of 10.20 g/t gold in RC-578 at Oromin’s New Discovery
o 12 metres of 23.53 g/t gold and 8 metres of 16.54 g/t gold in RC-579 at Oromin’s
New Discovery
o 11 metres of 5.96 g/t gold in DH-448 at Kerekounda
o 9 metres of 8.48 g/t gold in RC-596 at Kerekounda
o 8 metres of 13.97 g/t gold in RC-601 at Kerekounda
o 19 metres of 3.21 g/t gold in DH-439 at Masato
o 16 metres of 2.20 g/t gold in RC-587 at Masato
Oromin Explorations Ltd. (“Oromin”), on behalf of the Oromin Joint Venture Group (“OJVG”), is pleased to
announce additional results from the ongoing step-out and in-fill drilling program at its Sabodala Gold Project in
eastern Senegal. The majority of 2009 drilling to date has focused on the lateral and vertical expansion to the
high-grade Kerekounda gold deposit, as well as resource expansion drilling at each of the Golouma West,
Caliche:
Let me know your thoughts regarding the latest NR…
G1
On the New PR just out…. can anyone decipher the report/tables ? i never know what they are saying in their Geology language.
Pre feas on target for qtr 3…. thats great. But what is it saying about the ” new discovery” ?? Can anyone help? thanks
Cheer leaders coming out of the wood work..must be fed by the office..are they back??Not arguing the results are good or great..But why the low price (Closed today at .68 a high) and POSSIBLY giving the farm away with a cheap PP but not to existing share holders??That’s all I ask?Buyout being mentioned here..Will i will start by saying with Possible cheap PP to??This will effect the price or is my math wrong??IF someone real interested in buying this company right now and PUT A DOLLAR BID RIGHT NOW..They would probably get about a third of the out standing shares..Just my guess and hope i am wrong?DSH
The results are fantastic and we have a new discovery with high grades over significant widths. I’m guessing the PP is off since 99% of the companies would have halted the stock on this news. The management has a fiduciary responsibility to get the highest possible price in a PP and since they chose not to halt the stock to help drive interest to the play, I have to conclude the PP is off.
PP is not off, but hopefully they didn’t already commit to a low number if we do see a pop…
G1
FYI I just saw the New PR on Goldseek.com
GS seems to be a good site on all Precious Metals News. Grandich and Armstrong are seen there. At least ole got this out soon.
Still waiting for someones analysis on this New Discovery?
Today’s NR should provide great comfort in our high-grade, multi deposit, and (soon to be) multi million ounce gold company. I have continued accumulating and am glad I did. PP or no-PP this compnay will sell for many times it’s current price.
PP or no-PP this compnay will sell for many times it’s current price.IN OUR LIFE TIME?..All dead money..With news our company is TRADING DOWN..Last 10 trades today
Time X Price Chg Vol Buyer Seller Markers
10:11:16 T 0.66 -0.02 500 1 Anonymous 33 Canaccord K
10:11:16 T 0.66 -0.02 500 1 Anonymous 63 Byron K
10:06:01 T 0.66 -0.02 500 1 Anonymous 33 Canaccord K
10:06:01 T 0.66 -0.02 500 1 Anonymous 63 Byron K
10:02:16 T 0.66 -0.02 1,000 80 National Bank 33 Canaccord K
10:02:04 T 0.67 -0.01 10,000 80 National Bank 80 National Bank K
10:02:04 T 0.68 0.00 1,000 1 Anonymous 80 National Bank K
09:30:21 T 0.70 0.02 1,000 6 Union 28 BBS K
09:30:18 T 0.70 0.02 2,500 6 Union 28 BBS K
09:30:06 T 0.70 0.02 250 63 Byron 15 UBS E