MDL getting ready to fry some fish :)
GOLD SPECULATION
There was speculation last week that now Mineral Deposits Ltd was producing 160,000 ounces a year of gold from its Sabodala mine in Senegal, it was looking to make an acquisition.
The talk was that it had settled on the Tasmanian gold producer Beaconsfield Gold NL using the 22 per cent BCD stake that Malaysia Smelting Corp has up for sale as a starting point.
The talk was nonsense. MDL has far bigger fish to fry in Senegal. As noted by Garimpeiro previously, more than 10 million ounces of gold has been found in the past four years within a 25 kilometre radius of MDL’s Sabodala treatment plant.
Of the 10 million ounces, 3.5 million is to MDL’s account, and another 3 million is held by Canada’s Oromin in a joint venture with Senegalese interests and the Saudi royal family. It makes sense to run Oromin’s ore through MDL’s Sabodala plant.
The speculation – and gold’s advance to record territory of $US1100 an ounce – has been a good thing for MDL’s share price. It closed at $1 a share on Friday, making its gain a more than handy 56 per cent since September 1. In a note last week RBS Morgans valued MDL at $1.22 a share.
Depth By Price
Bid
Orders Volume Price
3 26,500 0.86
3 122,500 0.85
2 30,000 0.81
1 20,000 0.80
1 1,500 0.78
Ask
Price Volume Orders
0.90 18,000 3
0.91 5,000 1
0.92 5,000 1
0.93 5,000 1
0.95 7,000 1……….Depth Vancouver time 7:04.Not saying to buy or sell.Good luck.Ron
I hope they buy us. I’m ready to put this thing to bed.
kwhurs01
Very likely that Randgold buys both MDL and Oromin. I don’t think MDL has much more financial firepower than to continue to pay off their debt while the
synergies with Randgold are immense. For sure, IAMGOLD and AngloGold are also interested.
See slides and my commentary under thread “Oromin Corporate Presentation”.
Here’s the audio that gives much more detail than the slides:
Randgold Resources Ltd.
D. Mark Bristow
Denver Gold Forum 2009
September 14-16, 2009
http://events.digitalmedia.telus.com/denvergold/091409/frameset.php?player=win&file=randgold&co=randgold&co_item_id=815
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.
Great gold exodus gathers pace
http://www.theage.com.au/business/great-gold-exodus-gathers-pace-20091025-herb.html
“More to the point was Grigor’s assessment that West Africa had plenty of potential for the discovery of 1-3 million ounce projects, something recent history suggests is increasingly difficult to achieve in Australia.
Current Australian producers in West Africa are Lihir at Bonikro in Ivory Coast (160,000 ounces annually), Mineral Deposits Ltd at Sabodala in Senegal (160,000 ounces) and Resolute Mining at the restarted Syama mine in Mali (planned annual rate of 250,000 ounces).
Lihir is on the record as stating it wants to increase its West African footprint, with Grigor stating Perseus as the obvious target. Perseus is on its way to becoming a 230,000-ounce-a-year producer from its first project in West Africa, the 5-million-ounce Ayanfuri project in Ghana.
Mineral Deposits is also the subject of continual takeover speculation, with its Sabodala treatment plant shaping up as the central operation for new discoveries made by it and others in the region.”
ery likely that Randgold buys both MDL and Oromin. I don’t think MDL has much more financial firepower than to continue to pay off their debt while the synergies with Randgold are immense. For sure, IAMGOLD and AngloGold are also interested.
See slides and my commentary under thread “Oromin Corporate Presentation”.
Here’s the audio that gives much more detail than the slides:
Randgold Resources Ltd.
D. Mark Bristow
Denver Gold Forum 2009
September 14-16, 2009
events.digitalmedia.telus.com/denvergold/091409/frameset.php?player=win&file=randgold&co=randgold&co_item_id=815
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.
From what I understand, there was an opportunity to sell out, but the Saudi’s in collaboration with management decided they wanted to prove more reserves in order to get a higher stock price for the company, hence the latest PP, which is fine as it seems the Saudi’s and management feel that the Assays from the higher grade deposits with push the value of the company higher.
We need to see some higher grade assays to push this thing higher. Also, the 7 million shares went immediately, so there is a demand for bulk shares.
G1
Does that now mean that there will likely be no buy-out until the updated pre-feasibility sometime in Q2 ’10—if on time ???
I don’t mean to throw water on this whole concept but if ‘THE SAUDIS’ were seriously involved here there would be no problem finding money for drilling oil wells in Argentina, finding a solid buyout partner, getting additional assets in senegal to finish the mineral exploration etc. If we are having difficulty finding a partner while having 100 million shares out, and all indications say that we are having trouble, just wait til we have 200 million shares out.
AB
Andy, in all due respect, I still believe Oromin is working to reach a suitable PP for its stockholders. They could borrow etc. but just maybe we are closer than one might think to reaching a deal. It might be time for you to salvage what you can if you really believe what you have been saying these past weeks on this sight and Stockhouse.
From what I understand, there was an opportunity to sell out,…If this is true I don’t think the stock would be lingering around **** .90 **** ???Of course if the price is lower then .90??From what I can see is that Chet has lost most of the faithful retail market..Seems all he can do is sell blocks at a discount value??I just cannot see the Arabs being involved in Oromin market..if they were serious we wouldn’t see it here..if they knew there was a buyout coming at a higher price ??You would think they wouldt be buying it…I know i would??We can only hope Chet can get his act together..looks like all the time he was working with Pezim he didn’t learn a thing about the market..Heard his wife Nell was the brains?dsh
“Nell Dragovan has been a director of the Company since June 5, 2003. She is a financier with a long, successful history of organizing and financing junior resource companies in Canada. In 1980, she founded Corona Explorations that discovered the Hemlo gold deposits in Northern Ontario. Ms. Dragovan is the spouse of Mr. Idziszek.” Source: Forbes.com
If she was the brains, we would have been bought out in ’06.
Was the jump in the share price related to the gold spike? Just a little surprised to see a positive correlation between the two for a change.
Thanks for the advice Sherman. I’ve never posted on Stockhouse.:)
AB
RBS is valuing MDL at $1.22/share or:
$1.22 * 548.219 million = $670 million with only 3 million ounces and a much smaller property.
OLE’s market cap is only $95 million…
i would take 7 dollars!!!
oromin has a bigger property more potential at expanding .. HIGH GRADE ore …oxide ore.. why the hell isn’t oromin’s mkt cap a billion?????
Sorry Andy, it was the Yahoo Message Board. Just trying to keep the faith and finish this adventure with a big positive! I spoke to David Scott a several weeks ago and he was straight forward saying Oromin has been offered share price but Oromin is posturing for highest dollar possible. Could even be next year if need be.
“As people question the ability of world governments to deal with the worst economic recession of our generation, an ancient measure of value is on the rise. What is it? Gold.
Let’s evaluate some reasons gold has surpassed important barriers and see if $2,000/oz is in the cards.
Is this the ‘Perfect Storm?’
In February, bailout 2.0 (also known as the ‘American Recovery and Reinvestment Act of 2009’) was passed into law. It amounted to a $787 billion plan by the U.S. government for job preservation and creation, infrastructure investment, energy efficiency along with state and local fiscal stabilization. While large spending programs like it are hailed as financial salvation by the people passing them, they are creating what some economists are calling the ‘Perfect Storm.’
In many respects, the U.S. government finds itself in a fiscal catch-22. If they pay for massive bailout and stimulus packages with borrowed money, it drags a deeply indebted nation into deeper debt. If they pay for the packages by printing more money, it devalues the dollars already in circulation and creates the potential for massive inflation.
Oddly, the most eleveanted federal deficit ($1.4 trillion) since the 1940s doesn’t seem to bother U.S. politicians one iota. As this weekend’s House vote illustrates, they’re poised to spend another trillion dollars or so on overhauling the healthcare system. What deficit?
Investing in Gold
Aside from owning physical gold, there are other ways for investors to obtain market exposure to gold.
In 2004, State Street Global Advisors introduced SPDR Gold Shares (NYSEArca: GLD – News) as the first exchange-traded trust linked to the price of gold bullion. The share price reflects 1/10th the price of one ounce of gold bullion. The trust is backed by physical gold, which is stored in the form of London Good Delivery Bars (400 oz.) in a secured vault. GLD has a mammoth $35 billion in assets making it the largest gold ETF in the world.
Since the beginning of this year GLD has risen close to 25% in value.
Another way to gain exposure to gold is buy investing in stocks closely tied to the gold mining market. The Market Vectors Gold Miners ETF (NYSEArca: GDX – News) follows the Amex Gold Miners Index.
The underlying index contains 32 mining stocks and Barrick Gold, Goldcorp and Newmont Mining represent the three largest holdings. GDX has climbed 40.55% this year, handedly outperforming gold itself.
What’s Behind Soaring Gold?
Just as a doctor would want to find out what is causing a certain problem before prescribing medication, investors should find out what’s really causing gold’s price spike before making a buy/sell decision.
Deciphering the cause and effect equation could also shed more light on gold’s future. Isolating the cause of gold’s rise will also bring us a step closer to finding out whether $2,000/oz is achievable.
Since gold, as other commodities, is traded in U.S. dollar denominated units, the fluctuations of the greenback may have a direct bearing on gold prices. If demand for gold truly outweighs supply, gold prices measured in various currencies will go up. If a weak dollar is causing higher gold prices, gold denominated in U.S. dollars will be the main or sole beneficiary.
Beware of the Crowd
According to some estimates, up to 90% of all traders are bullish on gold. And recent activity in the gold market seems to confirm their positive bias. For example, the Reserve Bank of India just bought 200 metric tons of gold from the International Monetary Fund for $6.7 billion. Will other world central banks do the same and boost gold’s price action higher?
Many goldbugs and gold investors are recent converts. The interest in buying new investments is usually the highest when their prices are peaking. Will there be enough new gold buyers to propel gold prices to $2,000 per ounce?
After reaching a record high of $850/oz in January 1980, gold prices fell over 40% in two months. It took gold 28 years to reclaim the $850 level. Will we see a repeat incident of gold’s historical head fake?
The fact that gold has become such a popular trade should raise some red flags. The crowd is rarely right and if they are it’s usually short lived.
Is Gold’s Future as Bright as its Shine?
Gold is more than just a precious metal. Unlike paper currency, gold is not someone else’s liability. Its worth is specified by investor’s willingness to own the yellow metal. As such, gold is the only true currency.
While the destination for stocks is pretty much mapped out already, gold is likely to undergo two distinct stages over the coming years. One stage will be influenced by the extreme optimism present today, while the other stage should be closely linked to a continuation of financial turmoil.
The ETF Profit Strategy Newsletter contains a detailed forecast for gold’s two stage development, along with a short, mid and long-term forecast for U.S. stocks. If history is a correct guide, which it usually is, the upcoming twists in gold and equities will take many investors and goldbugs by surprise. ” – ETFguide.com
The missing Bank Participation Report [for positions held at the end of trading on Tuesday, November 3rd] put in an appearance late yesterday afternoon. Here’s the Reader’s Digest version… In silver, two [2] U.S. banks [JPMorgan and HSBC USA] are short 41,318 Comex contracts. They also show 1,426 long positions… for a net short position of 39,892 Comex contracts… which represents 30.9% of the entire Comex open interest in silver. Taking out all the market-neutral spread trades would drive this percent of open interest [on the short side] to around 45%… and that’s just two U.S. banks!!! That’s preposterous!!! If that 45% is true, then it means that JPMorgan and HSBC hold virtually the entire Comex net short position all by themselves.
Now for silver and the non-U.S. banks. There are currently eight [8] non-U.S. banks that hold Comex positions… 2,155 long contracts and 1,578 short contracts. These 8 banks are net long 577 Comex contracts… and these contracts represent 0.45% of total open interest.
In gold, two [2] U.S. banks [JPMorgan and HSBC USA] are short 123,331 Comex gold contracts. They also hold 523 long Comex contracts. Their net short position in gold is 122,808 Comex contracts. These two above banks hold 24.9% of the entire open interest in Comex gold… all of it held short. If I take out the market-neutral spread trades, these two U.S. bullion banks are short more than 30% of the entire Comex gold market.
Now, for the non-U.S. bullion banks, of which there are 18 in total that hold Comex gold contracts. They are long 7,914 contracts and short 39,340 Comex contracts. Their net short position is 31,426 Comex contracts spread over 18 banks. This represents 6.4% of the total open interest… but well under 1% for each of the 18 non-U.S. banks. Not that I want to muddy the water at this point, but I would bet a fair chunk of money that of the 31,426 Comex contracts held short by those 18 non-U.S. banks… 75% of that amount is held by less than a third of those 18 banks.
In a nutshell, as of the end of trading last Tuesday [a week ago today], JPMorgan and HSBC USA were short 199.5 million ounces of silver and 12.3 million ounces of gold… about 45% and 30% of total [net] Comex open interest respectively. And the CFTC and your gold and silver companies just sit on their respective asses and do nothing.
And now, for something completely different. The TOP 100 Gold Stocks. All in one place. Courtesy of Mineweb. Hope your favorite is on this hit parade, and hope it has done well for you:
Stock
From
From
Value
price
high*
low*
USD bn
Romarco
CAD 1.35
0.0%
1073.9%
0.382
Metallic Venture
CAD 1.16
0.0%
346.2%
0.057
Tara Gold
USD 0.45
0.0%
1630.8%
0.046
Philex Gold
CAD 0.35
0.0%
133.3%
0.013
Minefinders
CAD 11.72
-0.1%
252.0%
0.727
West Timmins
CAD 2.82
-0.4%
2069.2%
0.374
Centerra
CAD 9.38
-0.4%
908.6%
2.077
Western Copper
CAD 2.24
-0.4%
992.7%
0.162
Norseman Gold
GBP 0.56
-0.4%
3616.7%
0.159
Ventana Gold
CAD 10.74
-0.6%
26750.0%
0.902
Continental Minerals
CAD 1.69
-0.6%
463.3%
0.206
Lake Shore Gold
CAD 3.87
-0.8%
545.0%
0.779
Golden Star
USD 3.77
-0.8%
842.5%
0.842
Castle Gold
CAD 1.15
-0.9%
666.7%
0.082
European Gold
CAD 6.88
-1.0%
463.9%
1.167
Capital Gold
CAD 0.95
-1.0%
192.3%
0.174
Highlands Pacific
AUD 0.37
-1.3%
825.0%
0.221
Jinshan
CAD 2.11
-1.4%
427.5%
0.327
Eldorado
USD 12.42
-1.5%
239.3%
4.970
A1 Minerals
AUD 0.24
-2.0%
300.0%
0.035
Red Back
CAD 15.51
-2.2%
340.6%
3.377
Petropavlovsk
GBP 11.74
-2.3%
582.6%
3.328
Carpathian Gold
CAD 0.40
-2.4%
700.0%
0.098
Taseko
CAD 3.52
-2.5%
433.3%
0.605
Iamgold
USD 15.43
-2.7%
473.6%
5.679
Semafo
CAD 3.69
-2.9%
334.1%
0.872
Royal Gold
USD 48.28
-3.1%
77.3%
1.968
Keegan Resources
USD 5.55
-3.3%
1337.8%
0.158
Red 5
AUD 0.14
-3.4%
483.3%
0.084
Randgold Resources
USD 74.22
-3.6%
196.3%
6.648
Mindax
AUD 0.53
-3.6%
171.8%
0.062
Timmins Gold
CAD 1.04
-3.7%
420.0%
0.102
Kingsgate
AUD 8.39
-3.8%
281.4%
0.738
Medusa
AUD 3.60
-4.0%
778.0%
0.554
Allied Nevada
CAD 11.13
-4.2%
359.9%
0.601
Ascot Mining
GBP 0.46
-4.4%
83.6%
0.026
Terrane
CAD 1.08
-4.4%
928.6%
0.115
Citadel Resource
AUD 0.43
-4.4%
309.5%
0.560
Hunan Chenzhou
CNY 0.28
-4.4%
357.6%
0.022
Brett Resources
CAD 1.25
-4.6%
190.7%
0.101
Newmont
USD 47.49
-4.7%
124.3%
22.814
Mineral Deposits
AUD 1.01
-4.7%
258.9%
0.520
Auex Ventures
CAD 3.19
-4.8%
235.8%
0.107
Virginia Mines
CAD 5.11
-4.8%
127.1%
0.141
Shandong Gold
CNY 69.79
-4.9%
367.9%
7.274
Moneta Porcupine
CAD 0.19
-5.0%
533.3%
0.020
Barrick
USD 39.95
-5.1%
109.1%
39.269
Gold Resource
USD 8.80
-5.3%
317.1%
0.406
Comaplex
CAD 7.00
-5.3%
554.2%
0.386
Int’l Minerals
CAD 4.44
-5.5%
279.5%
0.389
Yamana
USD 12.05
-5.6%
245.1%
8.832
Sino Gold
AUD 7.04
-5.6%
180.5%
1.877
Premier Gold
CAD 3.32
-5.7%
159.4%
0.259
Freeport-McMoRan
USD 79.35
-5.8%
405.4%
34.121
Goldcorp
USD 40.71
-6.2%
138.8%
29.828
Gold Reserve
CAD 1.43
-6.5%
393.1%
0.078
New Gold
CAD 4.44
-6.7%
372.3%
1.623
Silver Lake Resources
AUD 0.97
-6.7%
646.2%
0.157
Guyana Goldfields
CAD 5.73
-6.8%
839.3%
0.355
Buenaventura
USD 37.13
-6.9%
234.8%
10.207
Int’l Tower Hill
CAD 5.75
-7.0%
437.4%
0.314
Chalice Gold
AUD 0.47
-7.0%
564.3%
0.058
Hillgrove Resources
AUD 0.33
-7.0%
358.3%
0.125
Saracen
AUD 0.33
-7.0%
489.3%
0.115
Zhaojin
HKD 14.40
-7.1%
453.8%
0.812
Polyus
USD 52.00
-7.1%
246.7%
9.913
Orvana Minerals
CAD 0.91
-7.1%
149.3%
0.099
Pediment Gold
CAD 1.17
-7.1%
185.4%
0.052
Gryphon Minerals
AUD 0.52
-7.2%
772.9%
0.083
Alexco Resources
CAD 2.92
-7.3%
461.5%
0.119
Goldplat
GBP 0.13
-7.4%
49.3%
0.023
Newcrest
AUD 34.45
-7.5%
87.9%
15.188
Jindalee Resources
AUD 1.11
-7.5%
335.3%
0.033
Amarillo Gold
CAD 0.98
-7.5%
180.0%
0.044
Peninsular Gold
GBP 0.43
-7.6%
203.6%
0.036
Int’l Royalty
USD 4.16
-7.6%
299.6%
0.394
St Andrew Goldfields
CAD 0.60
-7.7%
400.0%
0.184
Rubicon Minerals
USD 4.43
-7.7%
532.8%
0.656
Kiska Metals
CAD 0.83
-7.8%
453.3%
0.037
Imperial Metals
CAD 5.99
-7.8%
544.1%
0.181
CanPlats Resources
CAD 2.44
-7.9%
136.9%
0.133
Animas Resources
CAD 1.19
-8.5%
366.7%
0.041
Exeter Resources
CAD 6.00
-8.5%
380.0%
0.357
Kings Minerals
AUD 0.16
-8.6%
207.7%
0.062
Vista Gold
USD 2.94
-8.7%
267.5%
0.131
African Gold Group
CAD 0.46
-9.0%
1416.7%
0.028
Lihir
AUD 3.31
-9.1%
111.5%
7.146
Metals Exploration
GBP 0.22
-9.3%
252.0%
0.098
La Mancha Resources
CAD 1.85
-9.3%
3263.6%
0.248
Resolute
AUD 0.78
-9.4%
112.3%
0.270
Oceanagold
AUD 1.28
-9.9%
753.3%
0.217
Eastmain
CAD 1.35
-10.0%
145.5%
0.110
Cluff Gold
GBP 0.72
-10.2%
265.8%
0.140
AngloGold Ashanti
USD 41.78
-10.3%
212.5%
15.128
San Gold
CAD 2.97
-10.3%
421.1%
0.727
Dioro Exploration
AUD 0.85
-10.5%
240.0%
0.053
Nevsun
CAD 3.21
-10.6%
664.3%
0.389
Andean
AUD 2.27
-10.6%
427.9%
0.994
Orezone
CAD 0.67
-10.7%
157.7%
0.034
Avocet Mining
GBP 0.82
-10.9%
69.8%
0.262
Averages/total
-5.4%
751.8%
253.099
Weighted averages
-5.8%
190.6%
* 12-month…………….A test What did you notice….NO OROMIN..Probably never even heard of it or may not want to?dsh
Jon Nadler
Senior Analyst
Kitco Bullion Dealers Montreal
DSH:
I didn’t see Oromin in the top 5, they must have missed it…
G1
Hoping for THE B/O soon. But at 85 cents US…… a b/o now would be really low. Afraid to say.
Everybody is trying to steal something these days…. and the Majors arent any different…. rather more sharks than others. Didnt Buffet pay 30% more than the going sp at Burlington?
A 30% premium would give us abt $1.25. So, a b/o now looks to be bad.
As much as I disagree w/ the company…. they did hire Grandich, Agoracom, and Mork and Mindy PR firms. Right ? They couldnt do anything.
Again, all we can do is wait. Wait till more gold results. Wait till another gd PF.
But I guess Chet is playing like he doesnt want to sell. Playing that game, that hes finding more gold all the time. And if you want to buy the Company…. youll have to give me a good price
Hoping that Ran Gold and Iamgold ( or 2 others) get in a Bid ding war. Thats what we have to wait and hope for. Maybe those who have some better info …or opinions….. PLEASE tell me i’m wrong.
Ive been here 5 years. Not fun. would love to be out !!!!!!!
Just got this from OSU, seems to be dead on, imo…
G1
Investors:
Still no word from manangement, but I understand from several good sources that there was an opportunity for Oromin to make a deal to sell off the gold interests, but the JV Group decided to hold off, try to prove more ounces and sell off at a higher price, hence the latest private placement to allow them to stay afloat for a few more months.
Still hard to understand why MDL has a market cap of over $500 million and Oromin can’t crack $100 million with 3 million ounces and several new high grade discoveries. I have heard that there are a number of updated drill results/assays of the higher grade targets, but management won’t release until after the PP is finalized as they don’t want to have to explain why they gave away 7 million shares at $.85.
I wouldn’t expect a buyout until 2010, but at least the end is near. Watch for management to load up on giving themselves a bunch of cheap options/warrants to line there pockets before the buyout…
OSU
Depth By Price
Bid
Orders Volume Price
1 4,000 0.88
2 14,000 0.87
3 35,000 0.86
4 67,000 0.85
1 1,000 0.84
Ask
Price Volume Orders
0.91 5,000 1
0.92 12,500 2
0.93 7,500 2
0.94 12,500 3
0.95 16,000 2…………Depth Vancouver time 9:22.dsh
Last 10 trades today
Time X Price Chg Vol Buyer Seller Markers
14:09:06 T 0.94 0.01 57,500 65 Goldman 1 Anonymous K
13:52:17 T 0.94 0.01 10,000 65 Goldman 28 BBS K
13:52:16 T 0.94 0.01 2,500 65 Goldman 28 BBS K
13:52:16 T 0.94 0.01 2,000 65 Goldman 79 CIBC K
13:52:16 T 0.94 0.01 5,000 65 Goldman 1 Anonymous K
13:52:16 T 0.94 0.01 5,000 65 Goldman 85 Scotia K
13:52:16 T 0.93 0.00 5,000 65 Goldman 79 CIBC K
13:47:40 T 0.92 -0.01 10,000 65 Goldman 1 Anonymous K
13:47:40 T 0.92 -0.01 5,500 65 Goldman 1 Anonymous K
13:47:40 T 0.92 -0.02 200 65 Goldman 44 Jones Gable E….Depth By Price
Bid
Orders Volume Price
2 7,500 0.92
2 5,000 0.90
1 5,000 0.89
1 4,000 0.88
3 24,000 0.87
Ask
Price Volume Orders
0.94 500 1
0.95 28,500 1
0.97 10,500 2
0.98 2,500 1
0.99 12,000 3………..To 11:28 Vanouver time.dsh
How sad that IAG has doubled in the past few months (and 40% over the past few days) and OLE has sat paralyzed at the same sp.
Roro:
IAMGOLD was at $3 bucks a year ago, we all should have invested in them as now they are pushing through $16. MDL has been up 53% since Sept., Oromin has done nothing…
G1
MDL 3.3 million shares traded, up 5%, OLE, volume is 0…
Mineral Deposits Limited (MDM-T)
Last: Change: Volume: 11:45 AM ET
1.070 +0.050 (4.90%) 3,314,391 November 12, 2009
…..we might as well start guessing when a b/o will be. I’ll say it’ll be announced in May 2010.
And take 60 days to get done. I say we’ll get 3.25. And i’ll say either Rangold or Iamgold will be the lucky winner ( ya right). Rangold says it likes to build their own mine, while iag says it likes to buy. we’ll see. I think rangold has more cash… so i vote for them.
Goldfather…….Won’t the price of gold at b/o time influence the b/o shareprice(as well as quantity & quality of gold that Ole possesses)……IMO , it will….Also I believe gold will exceed $1200/oz by year end ’09 and will then exceed $1300/oz by April ’10……..You can make your own guesses re what Ole will have at that time……I gave up doing that some time ago…But I do think your buy out price is low….
The data cupboard finally gets restocked today, and we’ll see the usual Thursday fare of Initial Weekly Jobless Claims, which remains above 500,000 every week, and something that Tim Geithner might want to pay attention to… The U.S. Monthly Budget Statement, which will be somewhere around $160 Billion for October… Annualized, that’s almost a $2 Trillion deficit in the Budget! OUCH! Say it ain’t so, Joe!………..Is it this week the US is trying to auction their treasury bills…Who in their right mind will buy the????Gold or gold company shares for me anyday.dsh
Oromin website is locked down:
“Web site is under construction for periodic updates. Please contact Oromin Explorations head office for corporate updates. We apologize for any inconvenience.”
The inscrutable activity continues.
Previously, 05-Nov-09 share offering and 19-Oct-09 “Strategic planning” press release.
My mistake:
I was looking at:
http://www.oromin.com/
Should have been looking at:
http://www.oromin.com/s/Home.asp
Site available, nothing changed!
I have called management 3 times and can’t get a call back, always voicemail or on the other line…
Have anyone spoken to the company lately?
G1
Depth By Price
Bid
Orders Volume Price
1 47,500 0.93
1 1,500 0.91
1 10,000 0.90
2 16,500 0.87
2 30,000 0.86
Ask
Price Volume Orders
0.94 10,000 1
0.95 5,000 1
0.96 10,000 1
0.97 8,000 1
0.98 5,000 2………..Strong bid this morning 6:23 Vancouver time.Best we have ever seen for a LONG while.dsh