Well done, very professional and most important very exciting!!
October 21st, 2009
Categories: General . Author: admin
Well – Gold is up and we are down for the day??
Makes sense to me
7.0 million more shares issued……..I thought we had money in the bank per the CC last month?
please provide a link or copy and paste….
thanks in advance
Placement of 7 M + shares at .85 per. Don’t expect a buyout until late next year. Unless we’re lucky. The new floor is now .85, why couldn’t they do .90 or a buck? Placement should be done by Nov. 30, as stated in the release.
What’s everyone’s thoughts on whether its worth it to stay in with this management team when it seems most exploration cos are up 10%-20% in the last 3 days.
This was just released an hour ago. Look it up on a search engine.
My thoughts are that they don’t need this $0.85 funding for operational purposes. Rather this is last minute posturing in preparation for some sort of transaction. You could see that something was up with all the huge crosses that both Research Capital and Toll Cross have done over the last month. And surprise, surprise they are the two big underwriters for this financing.
I had reduced my target from $5-$7 to $3-$5 a few months ago. I now drop it to $2.50-$3.50. Although I think this news moves us closer to a significant run on the stock, these last two financings have created a negative dilutive effect which will limit the upside. That’s why I am reducing my target.
From what I have heard, the share price numbers that have been bounced around internally at OLE, have been in the $2.50 range. Have heard this from a couple different sources. Thus, with this financing, its dilutive effect, and the internal share price musings, I feel that $2.50ish is a more likely target.
i would agree with your 2.50 to 3.50 price..im hoping closer to 3.50 and in US funds..
Nice to hear from you. I am particularly humored by the “In U.S. Funds” portion of your last post…….have you seen the real value of the dollar lately? LOL! I’m dreaming of $3.00, and I’d take Canadian.
im glad you can see the humour we all need a good laugh about now!
(OTC BB: OLEPF.OB)
Last Trade: 0.87
Trade Time: 10:09am ET
Change: Up 0.03 (3.45%)
Prev Close: 0.84
Bid: 0.82 x 2500
Ask: 0.87 x 2500
1y Target Est: N/A
Day’s Range: 0.86 – 0.87
52wk Range: N/A
Avg Vol (3m): N/A
Market Cap: N/A
P/E (ttm): N/A
EPS (ttm): N/A
Div & Yield: N/A (N/A)………….Some action State side.dsh
Depth By Price
Orders Volume Price
1 2,500 0.89
3 9,500 0.88
2 11,000 0.87
2 12,000 0.86
1 10,000 0.84
Price Volume Orders
0.92 2,500 2
0.93 5,000 1
0.94 2,000 1
0.97 8,000 2
0.98 5,000 1……….Depth Vancouver time 7:38..dsh
Any news on the Santa Rosa project. Any chance the new funding will be used to drill a hole or two?
It appears that we all that have stood by this Company and this Management have stood by so some greedy Investors can come in a swoop down and get the cheap stock, hold for a short period and walk away with a nice profit…..Starting to have a fould smell to me?
Comments……Sorry, the funny left months ago
I am sure thre will be another dilution before it is all over….Anyone care to comment about where this diluted money is going…. Silk lined pockets for the Management Team? I have never been involved with a company that has done some much scamming of the investors before!
SCAM – SCAM – SCAM
IAMGOLD blasting to new all-time highs on volume today. Much stronger than the other big boys.
Who is buying the new 7 million shares of OLE? An additional 7 million shares would give IAMGOLD close to 25%. Would the other big players allow this without a fight?
Also I’ve heard rumors of talks among the big players (IAM, Randgold, Anglo? …) for some sort of consolidation of all the Senegal deposits.
Randgold & Anglo already have a joint venture in the Democratic Republic of Congo, 45% each for a probable 5.5 million oz. deposit plus.
“Kibali is one of the largest undeveloped gold deposits in Africa. The feasibility study completed by Moto in March this year envisages an open pit and underground operation with probable mineral reserves of 5.5 million ounces, which is planned to produce some 2.4 million ounces of gold in its first five years of production. Kibali also has indicated mineral resources of 11.3 million ounces and inferred mineral resources of 11.2 million ounces.”
That’s a lot of gold for about $500 million ($114 million for added 20% stake) but in very unstable DRC.
Stable Senegal already has 10 million ounces, MDL 3.5, Randgold 3.5 & Oromin 3.
The $2.5 to $3.5 target seems very reasonable. The big question to me is when. The big blocks of MDL & OLE traded recently, the previous fuzzy OLE pr mentioning financing, the current pr on the financing seem to point to something happening in the very near future. I hope so, $3.5 would be nice but $2.50 immediately would allow deployment of funds elsewhere.
I would just like to be done with this stock….Watching all of teh other stocks blossom while we sit dropping is ridiculous!
Give me the $3.00 and say goodbye CHET!!!
Scorecard for week Nov 2-6—GOLD UP OVER 5%—OLE DOWN OVER 5%——Maybe mgmt should consider releasing some of those assay reports on the newer high grade discoveries they are holding on to , or have they just stopped drilling the past several momths???…Shareprice seems to say so….
It is going to be real interesting to see where CHET ends up in all of this. Maybe Chairman of the Board on the Purchasing Company Board or maybe it will be a Company that he is already CEO of, a switch and bait maybe.
I have been a supporter of this company and I have even supported things when othersw have bagged this company.
NOW I AM A BAGGER…………It is sick what they are doing. FRAUD appears to be the only answer we have here!!
A COMPLETE SELL OUT OF THE STOCK HOLDERS…
So you all think that the OJVG property is only worth $775 Million??
THE troubled Mt Kare gold project in Enga province is now being offered for sale to potential buyers overseas.
Pacific Roads Corp Finance (PacRoads) has been engaged to help the liquidator of Madison Enterprises Ltd, owner of Mt Kare, in selling exploration licence (EL) 1093 otherwise known as Mt Kare.
Lack of funds to meet its day to day operations and to pay its debts forced Madison into liquidation.
A source close to office of the liquidator revealed the hunt for buyers overseas.
“PacRoads has undertaken an international marketing campaign to seek out expressions of interest and bids from reputable mining houses and exploration companies throughout the world,” the source told The National.
“This is a tender process and the value of the Mt Kare EL will be established by the market, based on bids received.
“As such, there is no set price for the licence,” the source said in response to selling price inquiries.”
Madison is the holder of EL1093 which includes the Mt Kare gold project.
The source said EL1093 was the only asset available for realisation in the liquidation of Madison and proceeds from the sale would be dealt with under the provisions of the Companies Act which sets out the priority and process for settling the claims of creditors.
The source said funds received from the sale would be used to settle debts under the provisions of the PNG Companies Act.
The landowners’ existing entitlement to a 10% free carried interest in the project through to feasibility was being maintained and would be preserved through the tenement realisation process.
The source said the EL was current and like other exploration licences in PNG, it had two-year renewable term.
“The licence has been held by Madison for over 12 years and is due for renewal next August,” he said.
The lease area covered 220sqkm and there was 1.8 million ounce of gold and 24 million ounces of silver inferred resource at Mt Kare along the trend with similar geological setting and mineralisation to Porgera deposit.
Madison has spent more than C$40 million (K99 million) in exploration since 1996.
are you trying to say that OLE (maybe OJVG) is gonna place a bid on this?
if this is not your point, what is?
madison is chest other co with reserves… and he letting mt kare go int recievership for some unknown reason..ole wont bid on it
i dont think there was a point other than to keep madison investors informed on whats happening over there..
From page 2 of the Oromin corporate presentation:
“West Africa – Emerging Giant in Global Gold Supply”
The Birimian trend (Senegal/Mali) now contains over 45 million oz of gold resources.
Not yet in production are the Sabodala 6.5M oz (Oromin, Randgold), Gouncoto (Randgold) 3M oz, an unnamed open pit of 1.6M oz and Segala/Tabakoto (Avion?) 2.4M oz.
Mines in production are MDL Sabodala 3.5M oz, Yatela (Anglo/IAMGOLD) 2M oz, Sadiola (Anglo/IAMGOLD) 14M oz and Loulo (Randgold) 12M oz. Randgold also has the Morila mine in Mali (not on the map) which is running out of ore.
The Birimian trend is in the fastest growing gold producing region in the world, West Africa.
Senegal has Favourable Mining Convention, Tax and Royalty terms, plus a minimum 7 year tax free status. This may be the kicker that helps us get a better buyout price.
More in my next post.
Previously I have favored IAMGOLD as the most likely and best buyer of the OJVG (likely including MDL in some sort of package deal).
However, after reading the Randgold Denver Gold Forum presentation, I now predict and favor Randgold.
My thinking is that they are totally focused on West Africa (Mali, Sengal, Cote d’lvoire and Democratic Republic of Congo). Their new discovery Massawa is part of the Sabodala gold belt and is only about 20 km from the Oromin high-grade discoveries. They are freeing up operational management from the older Mali mines to focus on Massawa and their new deposit Gounkoto in Mali near the Loulo mine. Gounkoto is only 60 km from Massawa. They have no debt and a strong balance sheet. Massawa prefeasibility study on track for Q4/2009.
Note on page 5 that they have successfully commissioned a 4km long overland conveyor at the Loulo mine. Imagine using this technology to convey ore from Oromin’s Masato deposit to the MDL mill (a few km away).
Of course, there might be a bidding war between Randgold and IAMGOLD. Could be quite a fight with IAMGOLD already holding 17% of Oromin.
Also interesting is that AngloGold Ashanti is a partner with IAMGOLD in both the Mali Yatela and Sadiola mines, but AngloGold Ashanti is a joint venture partner with Randgold in their recent acquisition of Moto Goldmines.
All the dynamics point to a deal soon as suggested by Caliche and others. I sure hope so – too many opportunities elsewhere with this burgeoning gold market to be stuck in a comatose gold stock.
Randgold Resources Ltd.
D. Mark Bristow
Denver Gold Forum 2009
September 14-16, 2009
This a 30 minute audio that accompanies the slides that I linked to in my last post.
The slides pop out to separate tabs as the talk proceeds.
Don’t miss the Q&A at 22:00 and especially the question about Massawa at 23:44.
Take a look at Avion Gold Corporation (v.AVR). Near Randgold’s Loulo Mine in Mali, with a 2.8 million oz. resource in production and projecting 100,000 ozs plus per year (potential 200,000 ozs). They own 80% of project (Mali govt. owns other 20%). No indication that they want to be acquired. Very undervalued producer. Lot’s of exploration potential on properties in Mali. Run by ex-Goldcorp managers.
To me, the current valuation of Avion’s 80% project puts a heavy barrier on top of any valuation of Oromin’s 43% project. Avion $95 million – Oromin $58 million, both not fully diluted.