Emotional Selling
well that just happened..lol
we are still here and holding ..last at .84 the 2 big buyers are
93 Toll Cross 137,800 100,990 0.73 0 137,800 -100,990
83 Research Cap 100,000 82,533 0.83 0 100,000 -82,533
each didnt sell any shares and took advantage of the emotional selling.. i think they were involved with the IMG placement..
i have to say as a 22 year vet of the penny markets it could have been a lot worse .. one stock today is trading at .32 down $2.38!
they guys always said it was a wildcat and thats what it was .. it looked really good but with geology sometimes it looks better than it is .. mother nature is unpredictable..
we will consolidate and move higher soon..
keep the faith we still have 2.3 million ounces of GOLD!
warmest regards
caliche
My other point I have looked at is that OTTO has not sold there shares either????????
Anybody ever look at Grandview Gold (GVGDF) ?????
dont know Grandview
but look at Gleichen GRL on the canadain it was my second largest holding.. i think it may be the biggest today..
congrats and respect to those that bought today at .70!
Up to .80 on US
Some sanity coming back into the market
Hey Caliche,
When do you think you may touch bases with Oromin Offices today.
Just going to running around and want to know when to check back in
Thanks,
Dale
How do I trade on the Canadian Stock Exchange… Never done this before
i will give them a try a bit later .. say noon vancouver time..
That sounds great Caliche, Thank you!
Give them a chance to settle down also 🙂
Dale
Just a quick question Calkiche, Sorry to bother you.
We have 2.3 Million ounces of Gold currently, but my understanding is that we still have numerous other holes to be included also that are not part of that 2.3 million. As I see it, the stock is only worth around $2.30 per sare. I guess I am wondering where everyone says the stock is worth $5.00 per share with the current 2.3 Million we have?
Just wanted to get some insite from someone that sounds like they have it together a bit more
Today would have been a wonderful day to temper the sell-off by releasing some of the 50 or so holes they must have in their back pocket by now but that would be considered promotion which is a no-no. Maybe tomorrow?
I am just going to sit back and let Caliche contact Oromin. He has the ability to speak more in there language than I ever would. So, we need to sit back right now and let the cards fall wher ethey may. Oil is not out of the picture as of yet, just wish it had not been hyped up so much as it was!
We still have 2 more sites to consider as of the initial reports, I think we are all forgetting the fact that this was a long shot for the first drill – the odds go up considerably on hole 2 and 3.
We also have to remember, OTTO is still a player in the stock. Why would they stay in if they have given up?????
So, me2 cooled down a bit.
And no, I’m not drunk and no I didn’t go to the bank and no I certainly did not load up anymore stocks 😉
I geuss one can only do is either get out or get aboard the goldtrain.
I’m gonna wait for Caliche and what he learns from the management of ole.
I don’t think Otto owns any stock in Oromin. They were just the farm-in for the SR drilling. They would own part of the Argentinian subsidary, not OLE.
Thats right. They are only a partner on SR. They would own 1/3 (or more) of the spin off of SR. They don’t have any rights to Saboda (gold fields).
kwhurs01
So, They are still in as far as we can see…..
Why would they walk away with riggs in the area and two more spot locations to drill per the report they went off of?????????
One would have to assume that they are still a player given the fact that this first drill was a wildcard, Am I right or am I wrong?
Substantial pull back after the panic attack.
.81 in US
According to my sources Oromin should have enough finances to continue drilling.
I can’t believe they would quit after this one. That seems absurd.
I mean, whats with all the studies released, the maps and such, now…call me an idiot but either there is oil or there isn’t.
I can’t believe that a company which is sure about whats in the ground to just throw in the towel after failure.
If at first you dont succeed, try again again again again again again and as many agains until you hit oil. The drills will pay themselves in the end.
Either you can convince people that there is oil in the ground or you can’t. If oromin can’t then it means their pitch person can’t sell their story.
A person who in his heart knows that oil is there will have no problems at all getting investors to fund the drilling. Trust me. Honesty shows.
So. I’d be very surprised if this is the end of that story and if not then I think you can start thinking about how you’ve been had with this oil play.
Otto had committed to two drills and the possible third (for more ownership). I believe they’ll continue with that because they are obligated to do so. I’d like a statement saying something like, evaluating first hole data… will know if we proceed around x date.
I won’t hold my breath.
kwhurs01
Let’s wait and see what Caliche can find out after his call today!
I am sure that the Oromin Office is just as sick as we are right now. They are probably as angry with the Investorss we are with them I am sure right now.
Step Back and read the report again, wait for Caliche 🙂
kwhurs01, I am sure we will know moire by this afternoon
You are correct though, hole #2 will not be far behind – It is on-site and ready to go. To pull it out right now would be somewhat irresponsible and rash at the least.
Otto has had a change of CEO recently (within last month or so). The new guy has a different focus. Plus, Otto is transitioning from an exploration company to a producer. They bought in for two holes for their original $900K, so I’m sure there is one more coming. Who knows – their release said “non operated assets”. Maybe they take over the operation… ? (Absolutely a WAG there)
Guys – I really don’t get some of this discussion & complaint, here. This was going to be nothing more than what it was – a duster. It has never been concealed that SR was anything but A LONG LONG SHOT. Reports were published stating it had, at best, a 13% probability.
OLE is a gold stock…there was not a whloe lot of hype from management on the oil side..yes they reported on it and yes they mentioned the possibilities…but it was not hyped by OLE – IMO…I believe some were even giving management crap about the “lack of marketing” on SR.
The hype occurred here! It’s fun to speculate and talk, but proper perspective was lost.
Don’t count on Otto putting out a whole lot more capital unless there is some compelling seismic readings – this was a complete duster – no hydrocarbon detected at all.. This is why they leased the rig, and did not purchase it -as some were wondering many months ago. A second hole may occur but it is not going to happen fast. We’re not talking about sliding it over a few feet – if they do a secong drill it will be a complete tear down and reassembly some where else… none the less, remember…
Oromin is a Junior GOLD Mining company.
h1
I don’t remember the rig discussion being about the oil drilling rig. I believe it was in complaint of not purchasing the drilling rigs in Sabodala.
Ole
I think you are correct – my apologies.
h1
Depth By Price
Bid
Orders Volume Price
1 14,500 0.94
2 8,900 0.92
2 5,900 0.91
2 30,000 0.90
1 3,700 0.89
Ask
Price Volume Orders
0.97 100 1
0.98 2,500 1
0.99 500 1
1.00 5,000 1
1.04 500 1…Depth Vancouver time 11:56..Reciovered a little?Bought as much as we could afford this morning.Lets hope the stock that came out is NOW going into strong hands..Seems that way so far.dsh
Hey hoosier1,
Good points made, many of us with large stakes are just a little uneasy when you have bad news and little comes out of the main offices.
We all over-reacted at first, wished I had bought more, but didn’t.
We all want success and overlooked the fact that this was hole 1 that had a low probability of success on the first dig. #2 should happen and yes, it will not be tomorrow as this rig did not go up overnight.
I hope they do take some advice from Caliche and lets see some 3D imagery before they go down this next time….
But, you are right – we have been in this thing for years and the end is very near for us all…. Hang on!
I understand & feel it too Dale. I have been here now for…3 years?? and have an extremely large share stake as well…I think G1 has a bit more than I do (or is it GF – sorry guys).
h1
I actually was looking for lame results on the first hole and was hoping to buy the dip. I’m a much smaller player but got shares at .7 and .6 this morning. I was sick I didn’t double down when we hit .38 some months ago. I’m just trying to lower my avg sp.
I really want to see those gold numbers later this summer. Hoping we get above 4 MM oz in the ground.
kwhurs01
nice trade Kyle!
with 1.6 million shares traded today.. (must be a record)..im sure there were a lot of people waiting with cash for poor results..
I mean don’t get me wrong had the thing hit, I’d have cashed my checks right behind you guys. I just thought it might present a good chance if it missed. Now let’s hope Chet is out selling the oil again. I can definitely say someone with considerable means was buying lots of shares when I was creeping around buying my small batches. I got bundled with someone at .6 and was hoping to do it again later, but no luck. Bids ran right back up past .7 quickly. Man that is a lot of shares today.
kwhurs01
Good Afternoon Caliche,
Did you have the opportunity to touch base with the Offices this afternoon at all.
Would love to hear there opinion on what is next?
Thank you
Caliche, I’m not sure why everyone thinks there will be more drilling in Argentina…..PR made it sound like the program was a One & Done. Does anyone have solid evidence to the contrary? I can’t tell you how much I would love to be wrong and pray to have the hope again which would only be brought on by another drill hole or two planned at Santa Rosa in the next 60 to 90 days. Unfortunately, I’m not getting the warm and fuzzy feeling as Otto said “This concludes the current drilling exploration programs for Otto’s non-operated assets.” The language about studying other potential traps to determine whether they warrant further investigation sounds like it was incorporated to provide a soft landing to some very bad news so as to keep a misleading flicker of hope alive. Since they made it public it’s fair game to ask details. Caliche or someone with good management contact should make direct inquiry as to what that really means. Otto may be a better management team to ask than David Scott. How long do they have the Santa Rosa Dome region tied up before having to surrender it to another exploration company? All the permits for drilling cost millions in legal and underwriting and geological expenses. Why let the concession and the permits expire and have to incurr a lot of these expenses and time again? My bet is the Argentinians or the license they granted will require that they need to do something quickly. They can just sit on it. They don’t own the land. The government wants it explored and then hopefully exploited. So another question is how long can it sit idle? When is the “use it or lose it” period up? They know when…believe me they know but will they tell us?. Knowing that will put a closure date on how long they can pretend to study this. Also, can they, will they or should they seek another “farm in” partner with some real money to spend on Santa Rosa…Hell after this announcement, I’ll gladly take dilution in exchange for another shot on just Oromin Explorationes, SA…..which is not our public company, Oromin Explorations, LTD but rather just to oil exploration entity set up by OLE. All the best, Oromint
In his daily blog July 28 , Peter Grandich advised that Oromin would no longer be a client as of Aug 1 , 2009.
Is it normal for companies like oromin to go hire and fire these PR groups? I know they stopped dealing agoracom earlier this year or late last and now they’ve ended this relationship.
Do they have another avenue for promotion?
kwhurs01
Peter Grandich was not promoting this company well anyway. MAYBE, a single sentence 2 times a year.
Doublem2
Oromint, I think we still need to wait until Caliche has a return phone call and then we can base our rational decisions based on this conversation.
The comment that “This concludes the current drilling exploration programs for Otto’s non-operated assets.” I feel is made as they were all in at there expense and that this particular hole is no longer an Asset (THIS HOLE), I would not read any further into that statement. Trust me, I did also at first and I was angry also. But now calmer dayts are prevailing and I am ready to move on.
THE FACTS REMAIN, WE ARE HERE FOR THE GOLD!!!!!
There is so much yet to announce above the 2.3 Million Ounces and we are all freaking out over the fact that the long termers are going to 15 or 20 or even 25 times ther money and some of the lucky ones may be even MORE. I bought to much at $4 a share.
Calm Down everyone and wait for waht Caliche finds out first……….. I have a good feeling about the oil side of it…. Let’s wait!