MDL Accumulation
GMP bought another 4.5 million shares today .. they are up to about 39 million shares with toll cross right now.. someoene is accumulating MDL on the sly through the TSX!!!
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Lets hope its IAMGOLD or Randgold so someone with a little financial grunt can tie it all together……
The more I think about it, IMHO the optimal scenario for OLE is for a bigger entity to buy all of MDL plus the OLE lower grade deposits (Masato & Niakafiri). The MDL mill can then grind away for 10 or 20 years producing very profitable bullion with the Masato oxides & higher grades.
OLE gets lots of cash plus maybe stock (If IAMGOLD then especially good). OLE can then continue to drill all the high, higher & oh so higher… grade deposits with no financial restraints plus no more dilution (which has been one of the stock price killers up to this point).
With no overhang of further stock dilution the stock price could shoot for the moon as the drill program produces more and more press releases like October 7. We could have an Aurelian on steroids.
http://www.kinross.com/news/7242008-1.pdf
Current OLE market capitalization is 63 million.
Socal:
Although it may be better for Oromin to sell off there lower grade deposits and focus more on the higher grade targets, I don’t think too many companies are going to go for that. The more NR’s we get like we did last week with the high grade deposits and new targets, the sooner you are going to see a major come in and try to take out OLE before they prove too much there stock price gets higher…
G1
GOLDN1—–I tend to agree with you that the “majors” will probably try to take out Ole before they prove too much(more assay reports)……..Would that line of thinking not also include taking out Ole before they release the updated feasibility report in Q-2 which should include a more complete “optimization” study showing more profitibilty at lower gold prices…If that line of thinking is indeed correct , I believe that we may see the buy-out within the next 4-5 months…….Comments , anyone ???
IAMGOLD’s standstill agreement expires Jan 17, 2010. I expect we will see a lot of action once that date expires as Oromin will try to prove as many ounces as possible by then. If another company tries to buy in before that, the standstill agreement is waived and things will get interested…
gold having a great night overseas.. should be a great day for gold stocks tomorrow!!
Bassari (BSR on ASX) up over 20% today, nearology on the geology has them doing extremly well, my bet is over $5 in 2 years.
Massawa is progressing well for Randgold but its going to suck a lot of cash to develop…..
Oroming results are stunning but still need to be tied together to make a viable series of pits to mine….I really hope they can do it.
MDL production is good, grades are holding up and apart for some hiccups the plant is ripping along….
Basically, this is a major new belt and all should be on a winner……and oromin management is still the worst performer….
Thanks Muttley, I wasn’t aware of BSR and it’s Senegal exploration program.
BSR has doubled since August.
Yesterday’s release:
http://www.asx.com.au/asxpdf/20091012/pdf/31l8r85qftylcv.pdf
As with previous Randgold and MDL releases, they mention OLE’s 3 million ounces
BSR ASX link:
http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=BSR
MDL is actually trading in Toronto. Not just a few big blocks but trades with above average total volume.
Very interesting. Very positive.
http://finance.yahoo.com/q?s=MDM.TO&=