Cal,

Based on reading your post are you back to believing that Oromin intends to build a mill and produce their own gold? I know a while back we were in this camp, but have waivered between this and a buyout.

Am I reading your thoughts right? Thanks for your efforts!

kwhurs01

“250 producing/operating days per yr is 100,000 oz.”

So if we are looking to become a producer, what does that mean for us. I assume that we’ll have to raise money to open a mill and/or mine the ore. Do all partners in OJVG have to pony up for this or just us OLE shareholders? Also, given the previous answer how much do we have to raise? I understand these are educated guesses and appreciate any help.

thanks,
kwhurs01

MDL is also ramping up drilling for 2010…

Mineral Deposits Limited: Sabodala 2010 Exploration Update
– Mine Lease RC and diamond drill campaign about to commence with initial US$4 million six month budget
– Encouraging results from RAB drilling on regional landholding coming through with RC drilling about to commence to test targets at depth

Buzz up! 0 Print..Companies:Mineral Deposits Ltd(The Co).Related Quotes
Symbol Price Change
MDM.TO 0.90 -0.02

{“s” : “mdm.to”,”k” : “c10,l10,p20,t10″,”o” : “”,”j” : “”} Press Release Source: Mineral Deposits Limited On Thursday January 21, 2010, 5:00 pm EST
MELBOURNE, AUSTRALIA–(Marketwire – Jan. 21, 2010) –

Background

Mineral Deposits Limited (MDL) (TSX:MDM – News; ASX:MDL – News) holds a large ground position on the extension into Senegal of the West African Birimian gold belt and, more specifically, within the Kenieba Inlier which has already yielded a number of large-scale gold mines and more than 40M ounces of gold resources despite being only lightly explored terrain.

The ground position is in the Sabodala district of Senegal and comprises a Mining Concession and seven Exploration Permits in various joint ventures, totalling approximately 1,600km2. Over 75% of the landholding lies within a 35km radius of MDL’s Sabodala mining operation.

Until late 2009, no significant drilling had been undertaken on exploration projects since 2006 as the focus had been on developing the Sabodala mine and treatment facility. Sabodala has been operating successfully since March 2009 and attention has now returned to exploration within the large landholding.

Project locations are designated as either “Mine Lease” or “Regional”, depending on their location, and are prioritised accordingly.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/Fig1121.pdf.

Mine Lease Exploration

Mine Lease projects currently number 11 targets. The area is well understood structurally and many of these targets have significant drill intercepts from earlier MDL drilling. A major RC and diamond drill campaign is about to commence with 15,000 metres of RC and 12,000 metres of diamond drilling planned over the next six months with a budgeted expenditure of approximately US$4 million.

Regional Exploration

The Regional landholding is extensively covered with shallow laterite and work over the last few years has been directed at mapping and understanding the regolith/laterite distribution. This has been integrated with structural interpretation from airborne magnetic and regional geological mapping and then geochemical sampling of areas of interest. This data has been compiled to generate a large number of targets displaying encouraging geochemical responses and these targets are now being systematically followed up with RAB drilling to test the underlying bedrock to shallow depths. Encouraging results will be followed up with RC drilling.

A large RAB drilling program commenced in late 2009 and to date approximately 20,000 metres of drilling has been completed on a number of projects. Some associated RC drilling and trenching has also been undertaken. The RAB program will continue throughout 2010 and beyond with at least two rigs in operation at all times. Encouraging results have already been received on a number of projects and RC drilling will soon commence to test these RAB intercepts at depth. Expenditure during calendar 2010 will, to some extent, be results driven but is expected to exceed US$10 million.

Very early recent results highlights include:

Diadiako – located approximately 15km from the Sabodala plant – reconnaissance diamond drill intersections include 14m @ 0.78g/t Au from 80m and 7.6m @ 2.24g/t Au from 193m within 13m at 1.43g/t Au from 189m. RC drilling has defined the presence of a NE trending and shallow south dipping structure with intersections including 10m @ 1.33g/t Au. This drilling is limited to two lines located 600m apart. RAB drilling to better define the mineralised trend is progressing and has already defined mineralised lodes over a strike length of some 1,000m. RC drilling follow up is now planned.

Makana – located approximately 20kms from the Sabodala plant – initial RAB drilling has returned anomalous gold values over significant widths, for example; 10m @ 0.2g/t Au in MKRBB0001 and 13m @ 0.1g/t Au in MKRBB0002. Follow up RC drilling will target a large tonnage, low grade deposit.

Gold Creek – located approximately 30km from the Sabodala plant – results returned include 78m @ 1.7g/t Au, 2m @ 3.8g/t Au and 2m @ 3.6g/t Au from trench KAT0007. Significant tonnage potential is possible and extensive RAB drilling is underway to better define the mineralised zones.

Zone D – located approximately 25km from the Sabodala plant – a zone of mineralised quartz lodes – once again “multiple lodes” where work completed to date has returned an average of 5.2g/t Au over lode widths of 2.9m. RC resource definition drilling is scheduled.

Dembala Berola project area – located approximately 40km from the Sabodala plant – lying within part of the Diale Sedimentary Belt and adjoining Bassari Resources’ leases which has announced a new gold discovery at Makabingui. The area has potential for large tonnage heap leach style deposits which could be established as a satellite to Sabodala. Mineralisation commonly consists of veins and disseminations in sediments which lead to wide intervals amenable to bulk mining and heap leaching. Recent trench results include 74m @ 0.8g/t Au at Dembala Hill near Goundamekho, which includes 10m @ 2.4g/t Au. Drill follow up here is prioritised. Results from Goundamekho some 8km further east, include 6m @ 4.2g/t Au and 26m @ 0.9g/t Au from reconnaissance RC drilling. Both prospects will receive systematic resource delineation drilling targeting large tonnage deposits amenable to heap leaching.

To view Figure 2, please visit the following link: http://media3.marketwire.com/docs/fig2121.pdf.

Both RAB and RC drilling will continue throughout 2010 with three to four drill rigs dedicated to the work. Results will be reported as appropriate.

About MDL

Mineral Deposits Limited is an ASX and TSX listed mining company with a current focus in Senegal, West Africa through a producing gold mine, the Sabodala Gold Operation, and a to be developed mineral sands project, the Grande Cote Mineral Sands Project.

The Sabodala Gold Operation, which poured its first gold in March 2009, is located 650 kilometres east of the capital Dakar within the West African Birimian geological belt in Senegal, and about 90 kilometres from major gold mines and discoveries in Mali. The area has only recently been opened for mining and exploration and is emerging as a significant new gold camp, with more than 10M ounces of resources already discovered.

The Grande Cote Mineral Sands Project is located on the coast of Senegal starting approximately 50 kilometres north of Dakar and extending northwards for more than 100 kilometres. The large scale of the ore body and the high quality of the zircon provides the potential to establish an operation of international significance.

Senegal is one of Africa’s most successful democracies, having gained independence in 1960. It enjoys a stable and investor friendly political and social environment. The government of the Republic of Senegal is MDL’s valued partner and holds a 10% free carried interest in both projects, which will accrue dividends once MDL has recovered its capital invested.

I thought IAG’s buyout was about seventy-cents (U.S.)? Can someone clarify in U.S. cents the IAG purchase price? Much appreciated..

H1:

You may have been confused by the latest $6.9 million bought deal which was at $.85. Still hard to believe the stock is going nowhere. It seems that they have been trying to hide things for so long, now when they actually come out with some decent news, the market doesn’t pay attention to them as a lot of people have given up. I for one, am very close to giving up on the, if it wasn’t for the latest “fast-tracking” release, I would have sold off a bunch. It is still odd to say Oromin and Fast Track in the same sentence…

G1

VANCOUVER, BRITISH COLUMBIA, Jan 27, 2010 (MARKETWIRE via COMTEX News Network) —

Levon Resources Ltd. (“Levon”) (TSX VENTURE: LVN)(BERLIN: LO9)(FRANKFURT: LO9) is pleased to announce that diamond drilling has recommenced at the Cordero silver, gold, zinc, lead, project located 35 kilometres northeast of Hidalgo Del Parral, Chihuahua, Mexico. Initial drilling will concentrate on continued testing of the Pozo de Plata target, including step out drilling from hole C09-5 that cored a long well-mineralized interval grading 152 metres of 80.64 g/T Ag, 0.61 g/T Au, 1.41% Zinc and 1.22% lead. Other areas to be drill tested will include regions of high chargeability and soil geochemistry, as partially drill tested in the fall program, and additional targets being defined by a concurrent surface program. The exploration target is a bulk-mineable deposit geologically similar to the Penasquito deposit currently being developed by Goldcorp Inc.

SURFACE WORK EXTENDS PORPHYRY BELT AN ADDITIONAL TWO KILOMETRES

Field crews mobilized to the project in early January, and subsequent surface mapping and prospecting have successfully extended the mapped extent of the belt another two kilometres southwest of the Pozo de Plata diatreme-dyke complex, into an area of limited bedrock exposure. Initial showings included intervals of hematite stained diatreme breccia which were subsequently exposed by a 545 metre trench. Continuous samples were collected in five metre intervals and have been submitted for analysis to ALS Chemex for processing at its labs in Chihuahua, Mexico and Vancouver, Canada. Ongoing mapping in this area has now delineated a two kilometre diameter area defined by circular features comprised of additional hematite stained breccia and islands of domed limestone country rocks. Current interpretations of this new zone, referred to as the Dos Mil Diez zone, are that it may represent a surface expression of a larger diatreme complex.

With the addition of the Dos Mil Diez zone the prospective mineralized belt, as defined by five porphyry or intrusive centres, has now been defined through a strike length of 8 km and a width of about 3 km. Current exploration is focused on four of the five intrusive centers, targeting deposits geologically similar to Penasquito, Pitarrilla and Camino Rojo.

“Both large bulk tonnage deposits discovered and being developed at Penasquito are hosted by diatreme breccia pipes. We have found these key host rock types in two pipes at Cordero and have drilled a discovery hole in the Pozo de Plata diatreme last year. With the Dos Mil Diez diatreme trench samples pending, we are very encouraged by the Cordero geology and discovery potential it offers,” comments Ron Tremblay, President of Levon Resources Ltd.

The property comprises wholly owned claims and consolidated land agreements that total about 20,000 hectares wherein Levon is completing the earn-in of a 51% interest from Valley High Ventures (TSXV Symbol VHV) (“Valley High”) by spending Cdn. $1,250,000 plus their proportion of the underlying option and maintenance property costs. It is anticipated that Levon has met its earn-in threshold, and consequently, the companies are finalizing documentation with respect to a governing joint venture agreement wherein future costs will be borne as to 51% by Levon and 49% by Valley High and Levon will take over as operator.

The project is under the direct field supervision of Mr. Vic Chevillon, M.A., C.P.G., Levon’s Vice President of Exploration and Juan Manuel Viveros, Valley High’s senior geologist. Vic Chevillon, P.Geo, who is a qualified person within the context of National Instrument 43-101 has read and takes responsibility for this news release.

Cordero District scale maps, a 2009 drill summary and 2010 results to date are provided in a current update at http://www.levon.com.

Levon is a junior gold and precious metals exploration company exploring the Cordero silver, gold zinc and lead project near Hidalgo Del Parral, Chihuahua, Mexico. The Norma Sass and Ruf claims located near the Pipeline gold deposit, which is being mined and explored by Barrick Gold Corporation in the heart of the Cortez Gold Trend in Lander County, Nevada, USA. The Company also holds key land positions at Congress, BRX, and Wayside in the productive Bralorne Gold camp of British Columbia, Canada.

ON BEHALF OF THE BOARD

Ron Tremblay, President

This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading “Risk Factors” and elsewhere in the Company’s periodic filings with Canadian securities regulators. Such information contained herein represents management’s best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Levon Resources Ltd. Ron Tremblay President (604) 682-3701 (604) 682-3600 (FAX) http://www.levon.com

SOURCE: Levon Resources Ltd.

http://www.levon.com
Copyright 2010 Marketwire, Inc., All rights reserved.

Depth By Price
Bid
Orders Volume Price
2 247,300 0.15
1 2,500 0.145
1 5,000 0.135
1 5,000 0.13
2 17,000 0.12

Ask
Price Volume Orders
0.165 15,000 1
0.17 21,500 2
0.175 5,000 1
0.18 15,000 2
0.185 20,000 2……..If you are really desperate and talk to the Oromin office?Ask them what they think of Madison Minerals (MMR) another one in Chets stable.Do your own homework.dsh

what gives here….. down to 70 cents today. some great company here…. they dive down to nothing…. and the mgmt sits on their ass and says nothing at all. Been like this for years now.

most of us still here will lose their shirt if we sell. The problem is that it doesnt have to be like this…. if this gd company would have acted like a normal company and publicized the results, actions, objectives and plans…. like normal and legitimate companuies,,,, we would be fine.
But no…. these jerks run it liek a Priveat company, and are insulted that they have to Report anything at all.

Yahoo shows news, but I don’t see anything yet…

Tony you could be right about most junior gold companies?But I really don’t care what others are doing.In the past or even in bad markets.There have been companies that beat the trend.I feel deep in my heart that Oromin should be one of them?With what this company is supposed to have or will have it should be a non brain er?But with this group that is surrounding Chet he is either ??? or has been dragged down a garden path by those who don’t know a thing about PR?Just look at the attempts by the PR to attract buyers to this company?Been to ever major city trying?It looks like they have been possibly set up each time?As nothing has ever been generated..except the dilution of more Oromin shares.They have killed the retail market and looks like the ones in the know can read between the lines?GLTA dsh

We expect some positive news tomorrow or Monday on GPXM. You may want to pick up a few shares and make a quick buck…

Golden Phoenix Minerals Inc. (GPXM.OB)

G1

setting up for another PP

Goldfather, do you really think they will do another PP?
As of their last financial report, OLE had $9.4M in cash, which is pretty high for them. Drilling had stopped for the year, so they shouldn’t have had alot of expenditures through Dec & Jan…
I would think their current cash position is capable of taking them through the majority of this year… Also, not a good idea to do it now while some investors are dropping out and dropping the price.

h1

Perhaps the many angry institutional investors who took part in financings at much higher prices will engineer a change of management. It has been done before and is probably the only thing that will allow us to get a reasonable return on our investment.

Too much to read..who do you believe??In a story that was all over the Internet yesterday, I see that the Senate has approved legislation to raise the federal government’s borrowing limit by $1.9 trillion… enough to enable the Treasury to pay its bills through 2010. As reader S.A. put it yesterday… “Eric Sprott is right, the U.S. dollar is “not a safe haven”. It should be a message to you, gentle reader, to buy physical gold and silver with both hands.

But it appears that George Soros doesn’t have any hands. He’s declaring that “Gold is now ‘the ultimate bubble’… sparking fears that prices for the precious metal may soon suffer a tumble.” The headline from The Telegraph in London reads “Davos 2010: George Soros warns gold is now the ‘ultimate’ bubble'”. I thank Australian reader Wesley Legrand for bringing it to my attention… and the link is here.

But, speaking from the same podium, was Barrick Gold’s CEO, Mr. Peter Munk. As you can imagine, he rather disagrees with George, and his speech indicates that. Besides which, Barrick didn’t pay off it’s hedge book in such great haste if Munk didn’t already know what was coming down the pipe. The Reuters headline reads “Barrick chairman sees upward gold trend intact”. I thank Russian reader Alex Lvov for sending this to me in the wee hours of this morning… and the link is here.