Oromin Hires Grandich Again, Grants Options
Oromin Explorations hires Grandich for public relations
Ticker Symbol: C:OLE
Oromin Explorations hires Grandich for public relations
Oromin Explorations Ltd (2) (C:OLE)
Shares Issued 102,834,885
Last Close 3/29/2010 $0.63
Wednesday March 31 2010 – News Release
Mr. Chet Idziszek reports
PUBLIC RELATIONS CONSULTANT
Oromin Explorations Ltd. has agreed to appoint Peter Grandich as a public relations consultant for a period of 12 months beginning April 1, 2010. His primary responsibilities will be to assist Oromin with the development and implementation of a public investor relations and communication program. Mr. Grandich will provide continuing assistance to Oromin respecting development and enhancement of Oromin’s public and market image.
Mr. Grandich is based in New Jersey and will be providing services on a consulting basis. For over 20 years, Mr. Grandich has provided public relations, corporate communications and corporate financing consulting services to numerous exploration and mining companies.
Oromin Explorations grants options for 860,000 shares
Ticker Symbol: C:OLE
Oromin Explorations grants options for 860,000 shares
Oromin Explorations Ltd (2) (C:OLE)
Shares Issued 102,834,885
Last Close 3/29/2010 $0.63
Wednesday March 31 2010 – Options Proposed
Mr. Chet Idziszek reports
Oromin Explorations Ltd. has granted stock options to employees, consultants, management, directors and officers entitling the purchase of up to 860,000 shares of Oromin under its stock option plan, subject to regulatory approval. The options are exercisable at a price of 65 cents per share until April 1, 2015.
Didn’t we hire and fire this guy a year or so back? But let’s be honest, our IR team really can’t get worse…. can it?
A company with a great story and no body telling it. Maybe this guy can help with that. If he does, his options will be well worth it.
kwhurs01
OROMIN AS NEW CLIENT FOR GRANDICH:
As noted yesterday, I believed gold was breaking out and sure enough it and especially silver are up sharply. Stay tuned as I’ve a hunch this is in part due to what surrounds the recent CFTC hearings.
A couple of months ago, I added a former client of mine to my model portfolio list – Oromin Explorations Ltd. (OLE-TSX $.70). I did so because at the time I felt the stock had gotten too cheap. The stock traded below $.60 earlier this week.
I received a call from Dave Scott of OLE that basically said the stock doesn’t come close to representing the value OLE’s management feels its worth and recognized they needed to get the story out. Upon getting the “Readers Digest” version of an update, I couldn’t have agreed more and was engaged.
While knowing saying this could get me fired my first day on the job, I must note that the company has never spent much time and money on the IR side of things. Long-time followers know I used to say they like to drill for metals, not investors. In the long run that’s usually the best thing, but when you look at what this company has already found in the ground, what’s likely to come out of their feasibility study by the end of June, the tremendous exploration potential and knowing what’s happening to companies that show they have several million ounces of gold available, the time has truly come for OLE to have it’s day in the Sun via some real big-time promotion.
It appears I will be just a part of this greatly increased enlightening of some very fine assets. I hope to have a report out next week during my “vacation”.
Wow. That woke somebody up… nice day, finally.
Perhaps some of you should e-mail Peter ( Grandich@agoracom.com ) to give him some insight what you believe has been lacking thus far..Just might help to get more timely results.. At least he would have a better handle re how current investors feel and why…And Yes , I have already sent him my opinions…
Peter Grandich has left Agoracom…….He can be reached ” peter@grandich.com “
grandich’s deal… We should hear something from him this week, hopefully his followers\will be listening and we can make another positive move…
Compensation: $2000 monthly, Options 150,000 at $ .65
G1
Caliche – I have tried to buy Redzone but it comes back that there have not been any trades so I can’t buy it. Any suggestions?
I think Grandich can get this thing moving again. It shows willingness from a very sleepy slumbering mgmt. They are now ready to tell a Very Good story to the Gold world. Peter mentioned that it’s ready for a Big Time Promotion, and he’s glad to be a part of it. With the MM’s help, mgmt cooperation, and Peter…… i bet it’ll get to the Mid 90’s very soon. Then Peter will promote it…. hype the FS… hype Senegal’s Mega Mine area …. hype it more w/ some of his talents…. then we’ll be around 2.
Then a good FS comes in at 4-5 mil oz (total). Could be 2.50 to 3 in July. Then hopefullky chet is a good negotiator to get 3.50 then its lites out and good bye.
Comments.
“Dorothy… wake up”
>”With the MM’s help, mgmt cooperation, and Peter…”
1out of three ain’t bad… Oh,wait. Yes it is.
ole… seriously…
peter and mgmt are together….
and i have a feeling that the MM’s will somehow mysteriously come on board.
so thats 2 out of 3 for sure.
Mgt didn’t support Peter the last time they hired him. I would love nothing more than to be proven wrong, but this is, what, the 4th time they have hired a PR firm and Chet, DS, et al didn’t support them before… Please, PLEASE prove me wrong, but at the moment I’m passing on the kool-aid.
ole_OLE——-By not supporting goldfather’s thesis , you are in fact already drinking the kool-aid
grandich on oromin…
Client Update – Oromin Explorations, Drilling For Ore Versus Investors Appears Ready To Pay Off OJVG Sabodala Gold Project, West Africa
Transforming a grassroots prospect into a potential new mine is an accomplishment for any junior company, but Oromin Explorations Ltd. is poised to achieve a more ambitious goal at its flagship project in the Sabodala District of eastern Senegal. A Full Feasibility Study scheduled for completion by mid-2010 will examine the fast-track development of a proposed open-pit/underground mine complex, with initial production from five deposits feeding a central 4,400-TPD carbon-in-leach mill that can be increased to about 7,000 TPD when processing soft oxide and saprolite ores.
It appears Oromin has a gold-mining camp, rather than a gold mine, in the making.
Oromin, on behalf of the Oromin Joint Venture Group (OJVG), began exploration in the region five years ago after securing rights to the 212-sq-km OJVG Sabodala Gold Project through an open tender process. The goal was to define at least one deposit that could be advanced to pre-feasibility within a short-term window set by the government under the tender process. Mineral Deposits Limited (MDL) had a similar goal at its nearby 20-sq-km Sabodala Project. Both companies met early success by drilling bulk-tonnage deposits amenable to open-pit mining, similar to those mined in established gold camps in neighboring Mali, now Africa’s third largest gold producer.
Since then, more than ten million ounces of gold has been reported by various companies (including Oromin) in the district. MDL opened the first gold mine in 2009, and now plans to double capacity to 4 million tonnes per year by mid-2011.
One of Oromin’s biggest challenges was the need to systematically evaluate the highest priority gold targets within a large concession hosting multiple deposits of different types within a 22-km-long, 5-to-8-km wide, northeast trending corridor. Initial drilling focused on “Masato Style” bulk-tonnage open-pit deposits on the Western Side of the Structural Corridor, similar to those mined at MDL’s concession. But as exploration progressed, a number of higher-grade “Golouma Style” deposits with combined open-pit and underground potential were defined on the Eastern Side of the Structural Corridor. They represented an attractive target because of their similarities to shear-hosted vein-type deposits in Canada’s Red Lake and Kirkland Lake camps and Ghana’s producing camps. These world-class camps are known for high-grade deposits with considerable lateral and vertical extension and long lives.
The Full Feasibility will be based on an updated resource estimate for seven advanced deposits, including the first five scheduled for initial production. Based on the number of drill rigs currently working, an increase in resources is greatly anticipated. I believe it can include expansion at the high-grade Kerekounda and Kourouloulou deposits. (OJVG’s existing resource of 2.19 M oz. Indicated and 0.35 M oz. Inferred is based only on drilling to May 2009, and does not include drilling below conceptual open pits or at five new discoveries). Metallurgical tests confirm excellent carbon-in-leach-only process recoveries ranging from 88.3% to 96.7% for these five deposits. Initial resource estimates for four new discoveries is expected to follow. Oromin also has another 18 gold targets that warrant further exploration. Six drill rigs are currently working in further expansion of resources.
Oromin has recently reported a number of important milestones. The Government of Senegal has granted OJVG a 15-year renewable Mining License, following approval of its Strategic Environmental Evaluation Report. And Oromin’s progress has not gone unnoticed, as IAMGOLD Corp. holds an approximate 15.6% interest in the Company. It’s no coincidence that IAMGOLD was a gold exploration and mining pioneer in Mali a decade or so ago, just as Oromin is a gold exploration leader in Senegal today.
Stay Tuned.
Arlene2 – please explain. How is NOT jumping on the “this time it will be different” bandwagon considered drinking the kool-aid? I always thought “drinking the kool-aid” was a reference to people that were believing things that weren’t real – in this case, management support of a PR firm. Not looking for a fight, just wondering what your point of reference is…
ole_OLE—-No fight challenge taken—reference was you have already given up hope and are already dying…
Ahh.. whose kool-aid was being drank by whom. Got it. Well, it’s always the other guy who’s drinking the kool-aid, right? lol
For the record, I haven’t given up. I still hold a sizable (for me) chunk of Oromin. I just believe past actions do indicate future trends and this trend doesn’t bode well for us retail shareholders. Like I said, I would really appreciate it if I was proven wrong. I double-dog dare them to prove me wrong…
ole_OLE——Veryn happy to learn that you have not given up and that you still have hopes ….I am curious though , to what do you pin your hopes on , if not making the markets aware of the real story Oromin has to tell……And if not Grandich & Mgmt , who ???
If I remember correctly, wasn’t Grandich on board when we hit $4.00 (U.S.)? Can someone please confirm?
Hello goldfather and friends. Oromin seems to have found some nice support at around $0.75. Hopefully they will come out with some positive news, maybe even a new ounce count before the full feasibility report in July. I still say that if we have enough patience we will be well rewarded.
Tony
Arlene2 – I still believe that OLE has at least 5-6MM oz in the ground, and think it is easy enough to get to that $130/oz is a fair price for a buyout. That places the value in my model in the $2.00 – $2.50 range. If there is a buyout, it’ll happen this fall-winter.
If they decide to mine it themselves, the number gets into $10 range, but I don’t account for OLE signing contracts for output at a particular price like MDL did. My guess if they do something like that, it would end up being $6-7 range, but 3-4 years before we see that.
Having thrown out those numbers, I also need to say that I am not buying more OLE. I’m holding from here.
As always, JMHO, which should be interpreted as a WAG. (big enough disclaimer? 😉 )
Hi Tony,
Re “nice support at around $0.75.”
It looks like we are leaving the seventies with pre-market bids at 80c this morning =).
glta.
NEWS BEFORE THE MARKET OPENS AND ON A TUESDAY!!!
press release
April 13, 2010, 9:04 a.m. EDT · Recommend · Post:
Oromin Explorations Ltd.: Drilling Extends Kourouloulou Gold Deposit to 300 Metre Depth and Expands Maki Medina Deposit
VANCOUVER, BRITISH COLUMBIA, Apr 13, 2010 (MARKETWIRE via COMTEX) — Oromin Explorations Ltd. (“Oromin”) /quotes/comstock/11t!e:ole (CA:OLE 0.75, +0.01, +1.35%) /quotes/comstock/11k!olep.f (OLEP.F 0.75, +0.01, +0.94%) –
HIGHLIGHTS
KOUROULOULOU DEPOSIT (Golouma Style Higher Grade Deposit)
– 64.56 g/t gold over 4 metres in DH-622 is the deepest drill intercept to date at this deposit
MAKI MEDINA DEPOSIT (Masato Style Bulk-Tonnage Deposit)
– 1.51 g/t gold over 25 metres in RC-672 extends near-surface mineralization northward beyond previous drilling
– Drilled surface extent of Maki Medina mineralization expanded 400 metres to 1,600-metre strike length and remains open
SEVEN DRILL RIGS FOCUSED ON RESOURCE EXPANSION
Oromin Explorations Ltd. (“Oromin”), on behalf of the Oromin Joint Venture Group Limited (“OJVG”), is pleased to provide a drilling update on its ongoing exploration and resource drilling program at the OJVG Gold Project in eastern Senegal, West Africa.
Geotechnical and hydrological drilling required for the independent full feasibility study is complete. All drills on site are now focused on resource expansion drilling. Oromin currently has seven drills – four diamond core drills, one reverse circulation (RC) rig, one combined diamond core-RC drill and one rotary air blast (“RAB”) drill – operating at various deposits, targets and prospects within the OJVG Gold Project.
The following results from the Kourouloulou and Maki Medina deposits represent the initial drilling results from our 2010 resource expansion campaign.
KOUROULOULOU DEPOSIT
Kourouloulou is a Golouma Style Higher Grade Deposit located approximately 500 metres north of the Golouma South Deposit and 1,000 metres south of the Kerekounda Deposit (two of several other Golouma Style Higher Grade Deposits). Initial resources for this new discovery will be included in the feasibility study report scheduled for public release in early July. Kourouloulou is comprised of two principal, sub-parallel gold veins traced to date by drilling across a 220-metre strike extent, and currently to a depth of approximately 300 metres. The deposit remains open to expansion to depth and to the west.
Of the recent significant results at Kourouloulou, drill hole DH-622 (64.56 g/t gold over 4 metres) represents the deepest intersection to date made up of four consecutive 1-metre samples returning 104.10 g/t gold, 55.08 g/t gold, 4.87 g/t gold and 94.20 g/t gold from 278 to 282 metres as set out in the table following.
—————————————————————————
Kourouloulou Deposit
—————————————————————————
Grid Azimuth/ From – To Interval Gold
Drill Hole Co-ordinate Dip (m) (m) (g/t)
—————————————————————————
DH-621 53500N/5345E 030/-65 128-138 10 5.84
incl.129-133 4 12.63
242-246 4 7.49
incl.245-246 1 28.07
251-252 1 71.14
—————————————————————————
DH-622 53472N/5325E 030/-65 278-282 4 64.56
incl.278-279 1 104.10
279-280 1 55.08
280-281 1 4.87
281-282 1 94.20
—————————————————————————
RC-665 53558N/5481E 030/-50 84-90 6 20.59
incl.84-85 1 35.32
and 89-90 1 82.46
—————————————————————————
RC-667 53479N/5363E 030/-70 160-162 2 26.67
—————————————————————————
RC-668 53501N/5370E 030/-70 130-131 1 4.63
—————————————————————————
Mineralized intervals are based on 1-metre continuous samples utilizing a
1.0 g/t gold cut-off level with a maximum continuous internal dilution of 2
metres. No cutting of gold assays has been employed for reported intervals.
The attitude of mineralized intervals varies and reported mineralized
intersections may not represent true widths.
MAKI MEDINA DEPOSIT
Maki Medina is a Masato Style Bulk-Tonnage Deposit on trend with two other deposits of this type, Niakafiri Southeast and Masato. Maki Medina is located 2.0 kilometres southwest of Niakafiri Southeast and 5.5 kilometres southwest of Masato. Recent drilling has extended Maki Medina’s strike length by 400 metres to 1,600 metres, and to an average depth to date of 100 to125 metres. The deepest intersection is approximately 200 metres. Maki Medina remains open to potential expansion along trend to both the northeast and the southwest, and also to depth.
Drilling activity at Maki Medina is focused on near-surface, saprolitic-oxide mineralization amenable for processing at a higher mill throughput rate, similar to near-surface gold mineralization at the Masato Bulk Tonnage Deposit. An excellent example of this is recently drilled step-out hole RC-672 which intersected a 25-metre interval of soft saprolite-oxide mineralization grading 1.51 g/t gold from 14 to 39 metres. Recent significant results are set out in the table following.
—————————————————————————
Maki Medina Deposit
—————————————————————————
Grid Azimuth/ From – To Interval Gold
Drill Hole Co-ordinate Dip (m) (m) (g/t)
—————————————————————————
DH-631 53734N/1938E 110/-70 176-183 7 2.87
—————————————————————————
DH-634 536581N/2060E 110-50 27-33 6 4.63
incl.29-30 1 12.43
—————————————————————————
RC-670(i) 54162N/2148E 110/-55 6-27 21 1.12
incl.8-12 3 4.46
—————————————————————————
RC-672 54200N/2162E 110/-50 14-39 25 1.51
incl.14-29 15 1.98
—————————————————————————
RC-673 54108N/2069E 110/-55 50-57 7 1.17
incl.53-55 2 1.60
—————————————————————————
RC-674 54088N/2122E 110/-55 18-24 6 1.49
incl.22-24 2 3.85
—————————————————————————
RC-675 54053N/2091E 110/-55 14-17 3 1.76
—————————————————————————
RC-678 53898N/2061E 110/-50 42-47 5 2.14
incl.44-46 2 4.72
—————————————————————————
RC-679 53890N/2085E 110/-50 15-24 9 1.28
—————————————————————————
RC-681 54078N/2023E 110/-55 72-78 6 1.81
incl.75-77 2 3.34
—————————————————————————
RC-682 53802N/2089E 110/-50 5-15 10 1.64
incl.9-14 5 2.89
27-36 9 1.57
incl.27-29 2 4.00
—————————————————————————
RC-685 53751N/2005E 110/-60 86-89 3 1.48
123-128 5 1.33
—————————————————————————
RC-687 53724N/2080E 110/-50 50-55 5 1.44
incl.50-51 1 4.96
—————————————————————————
RC-689 53699N/2032E 110/-55 60-74 14 2.18
incl.63-70 7 3.43
—————————————————————————
RC-691 53669N/2029E 110/-55 58-61 3 2.52
—————————————————————————
Mineralized intervals are based on 1-metre continuous samples utilizing a
minimum 0.25 g/t gold cut-off level with a maximum continuous internal
dilution of 2 metres, except hole RC-670 where 4 continuous metres of
internal dilution was included in the reported interval. No cutting of gold
assays has been employed for reported intervals. The attitude of mineralized
intervals varies and reported mineralized intersections may not represent
true widths.
Drilling has also resumed at other deposits and targets and will be reported when results are available. This includes deeper drilling at Kerekounda, Golouma West, Golouma South and Masato. Additionally, initial resource drilling is underway at Kobokoto and Koulouqwinde, whose initial resources will also be reported in early July along with resource updates based on current drilling at Maki Medina and Niakafiri Southeast.
The Government of Senegal has granted OJVG a 15-year renewable Mining License for the project, which will allow mining operations to begin in accordance with the recommendations of a full feasibility study scheduled for completion in mid-2010. This study will examine a proposed open-pit/underground mine complex, with initial production from five deposits feeding a central CIL mill. Initial throughput is planned at more than 7,000 TPD to process soft oxide and saprolite ores, ramping down to 4,400 TPD during transition from oxide to harder fresh rock.
Doug Turnbull, P. Geo., is a qualified person for the purposes of National Instrument 43-101, and has verified the data disclosed in this news release. William Bond, P. Geo., is also a qualified person for the purposes of National Instrument 43-101, and has supervised geologic field procedures. TSL Laboratories in Saskatoon carried out all assaying under industry-standard QA/QC procedures.
To find out more about Oromin Explorations Ltd., visit http://www.oromin.com.
On behalf of the Board of Directors of OROMIN EXPLORATIONS LTD.
Chet Idziszek, President
might even be leaving the eighties too – last sale at 88c
=)
Caliche/ Anyone——If FS does get completed late June (released early July) , what date , in your opinion , would be cut-off for including latest drill results in that FS……With six or seven drills working results should accumulate rapidly…..My guess is early May….about 3-4 weeks from now………Comments pls…..Thx
Arlene:
this was in the pr…
G1
“Geotechnical and hydrological drilling required for the independent full feasibility study is complete”
Goldn1——Tnx for the input…….What I am trying to guess now is how much time left to drill to still have results included in that FS…..Any thoughts??
Time left to drill for GOLD , that is , ……..Sorry I wasn’t clear…
Arline…. let me try and help in asking your ques.
The last results are to may 09. We are NOW reporting 2.1 mil indicated gold oz, and 330 thou inferred oz.( from may/09) Waht we all want to know is up to what date will be inclueed in the FS…. up to now,? up to Mid May ? or are we past the cut off date already?
I dont understant the PR tech lingo… the geophysical, and hydrological?? will be included? Not sure waht that all means? Even Grandich alluded to the 5 advanced drills, and the 7 new discoveries? Which will be included? He said 4 of the 5 will. But, again , very confusing.
All we want to know is how much time-drilling will eb included to our current 2.5 mil (total).
Sorry, arline…. maybe that didnt help after all.
GF
IMHO there is a whole lot left to be discovered and Oromin plans to become a producer. My question is how many years before they can be producing, what could be an expected level of ounces produced yearly and how this might equate to a dividend?
Santa Rosa Dome Culmination Project
Update in Progress Resource Evaluation
Update in Progress
OROMIN WEBSITE
????????????????????????????????????????????????
Anyomne have any indications as to what this means???
Thanks
I have asked this same question before with no response. IMHO if they were done with Santa Rosa they would have just said that. Update means ongoing to me. I have also e-mailed Grandich twice on this subject with no response. Sure would like to know where this is going.