Insider buying Oromin
May 10/10 May 10/10 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 – Acquisition in the public market 5,000 $0.750
May 07/10 May 07/10 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 – Acquisition in the public market 5,000 $0.750
May 06/10 May 06/10 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 – Acquisition in the public market 5,000 $0.760
May 05/10 May 05/10 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 – Acquisition in the public market 2,500 $0.760
May 05/10 May 05/10 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 – Acquisition in the public market 2,500 $0.770
May 04/10 May 04/10 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 – Acquisition in the public market 5,000 $0.770
May 03/10 May 03/10 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 – Acquisition in the public market 2,500 $0.800
May 03/10 May 03/10 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 – Acquisition in the public market 2,500 $0.790
Cal, does this activity trigger a decision to start considering getting back in beyond a core position? Aren’t there rules in place for directors having a time lapse in insider buyer and the release of news? 30 days?
yes this is a big factor in deciding to add, i have been telling them for years that it would take insider participation in the markets for investor confidence to return
im not sure what the blackout rules are .. i dont think its 30 days .. they may be voluntary anyhow..
Great New Site Caliche…. this is a wonderful site for gold investors. The last site was good, but this is terriffic.Nice going!!
On Ole…. good to see Chet step up to the plate and put his money where his mouth is. It should get noticed…. and btw, on some previous posts…. how much gold is Oromin showing now… the last NR was saying 2.1 indicated, and 330 thou inferred…. but a May 09 NR said 3 mil ( all totaled) Anyone able to clear this up? I bring this up, b/c even if they had to retract some findings b/c it wasnt official…. they will still have the 3 mil oz in their back pocket…. and we should have One year ( may 09 to may 10 ) to prove up additional. I think they’ll show 1.5 of NEW gold. So we’ll have 4.5 mil oz of Gold. WOW !!!!! thats a bunch, and should get a big sp bounce. Hello Majors… are you listening ?
Hi GF
the global inventory was 3 million ounces but they were not 43 101 compliant
so basically we will be starting from 3 million ounces and adding a years worth of drilling ounces in the new fs
4.5 is possible ..
Thanks Admin….
to others on Ole…. What do we think the FS will do to the sp? I’ll go w/ Admin guess of 4.5 mil oz of gold…. dont know about the irr and npv #’s needed. But i hope after all this time the Ole geo experts and finance guys, that they have profitable plans on the Mine needed. If they do, the sp should spike. No? Anybody here know about the needed irr and npv #’s needed… or guesses.? What should be a reasonable sp here w/ those figures…. and a POG of $1,240-……… i’ll say it gets to $2 very fast…. and the momentum carries it to the mid 2’s. Then a Major to B/O in November for $4. Based on $165 an oz , and 2 companies bidding.
Comments?
very interesting posts here:
http://www.google.com/search?q=oromin&hl=en&safe=off&prmdo=1&tbs=dsc:1,qdr:m&prmd=n&source=lnt&ei=EaPrS9vFLtndsAa20sC2Bg&sa=X&oi=tool&resnum=6&ct=tlink&ved=0CAoQpwU
talk of buyouts at $12 – 15 per share. This was only six months ago.
according to some figures of each gold ounce being saleable at $200oz. (from past buyout figures & current pog) x 4.5m oz = 900m x .43 (ole interest) then divided by 90m shares = sp of $4.30
so that is what is in the ground now, mgmt probably foresees much more oz as they are being dogged in persisting with a mine.
if my numbers are correct, maybe we should all lose this 2 bucks – 3 bucks max mentality.
glta
apologies, this is the link:
http://calichebahada.wordpress.com/2009/10/21/oromin-corporate-presentation/
Here’s an update on the insider activity from the last 2 days. Chet continues adding. Great news to me.
Oromin Explorations Ltd. (OLE) As of May 12th, 2010
Filing Date Transaction Date Insider Name Ownership Type Securities Nature of transaction # or value acquired or disposed of Unit Price
May 12/10 May 12/10 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 – Acquisition in the public market 2,000 $0.770
May 11/10 May 11/10 Brennan, Robert Direct Ownership 50 – Grant of options 40,000 $0.650
May 11/10 May 11/10 Idziszek, Chester (Chet) Direct Ownership Common Shares 10 – Acquisition in the public market 2,000 $0.750
May 11/10 Mar 24/10 Brennan, Robert Direct Ownership 38 – Redemption, retraction, cancellation, repurchase -125,000 $3.250
May 11/10 Mar 24/10 Brennan, Robert Direct Ownership 38 – Redemption, retraction, cancellation, repurchase -200,000 $1.900
May 11/10 Mar 24/10 Brennan, Robert Direct Ownership 38 – Redemption, retraction, cancellation, repurchase -175,000 $1.120
From Grandich….
(looks like he reads the e mails.)
Oromin Exploration – To a handful of people who truly need to read what I write about what you really need to know when you speculate/gamble in juniors, I’m not going to “create” news or rehash old news and try to get some sizzle out of it. If I do, I’m accused of pumping. If I don’t say anything or simply refer to what I recently said, I’m accused by the very same type of people of not doing enough. What I say to these people I say to everyone – if a little junior resource stock is causing you such aggravation day in and day out, you shouldn’t own it in the first place. The fact that these very people won’t like this answer will prove my point.
OLE is building significant assets and when there’s real news you can be assured they will release it and I will discuss it.
BTW……. do we think the FS is to be considered Real news from this little jr resource stock ?????????
My question to Mr. Grandich is, for the third time, what about Santa Rosa? Surly something is happening!!!
whats the director insider stuff saying redemption, retraction, cancellation, repurchase ?? wahts that mean.? did he buy or sell/ or cancel ? may be his cancelling his options at the hi sp #. , and buying at the lower # ? anyone. ?
the redemption, cancellation is when they cancelled the 8 million options that were way “out of the money” of upper management.
they were replaced by 800000 options @ 65 cents
Chet bought 2000 more shares each day last Thursday and Friday.
source: canadianinsider.com
CS:
I’m happy that Chet bought 2,000 more shares, but still iisn’t this kinda skimpy? In other words, $50,000 shares would get my attention. How many shares has Chet bought recently?
Looks like Chet bought 32,000 shares recently…am I correct?
Roro
Roro, 38,000 I believe.
Considering volume is only around an average of 40,000 a day, 2,000 and 5,000 share pick ups are starting to add up. He knows he’s getting cheap shares by doing it in small amounts and not placing a bid of 50,000 or 100,000. That would give a considerable rise in price. Why not buy at these levels over the course of 20-30 days.
I stand corrected, avg 3 month vol 134k
Acording to my math, I believe Chet has bought 45k shares as of Mon the 17th.
According, sorry typo!
I understand that Chet is going on a promotional trip soon to Toronto and New York, and then to China. I imagine we will get some news before he leaves.The Oromin story is a compelling one but too few people have heard it. A lot is riding on how well he tells it.
CS:
I’m happy that Chet bought 2,000 more shares, but still iisn’t this kinda skimpy? In other words, $50,000 shares would get my attention. How many shares has Chet bought recently?
I understand that Chet is going on a promotional trip soon to Toronto and New York, and then to China. I imagine we will get some news before he leaves.The Oromin story is a compelling one but too few people have heard it. A lot is riding on how well he tells it.
Maya, do you have any more info on the promo trip?.
Roro:
Nothing specific. They have hired a Zurich-based promotional group to open doors for them so maybe Chet will go to Europe as well. News must be on its way since you wouldn’t want to go on a dog-and-pony show without the latest drill results having been made public. The timing of this trip is good as it immediately precedes the release of the Feasibility Study and Drill Update. It can’t possibly make up for 5 years of no promotion, but at least they are doing something. Try this: a 30-40 cent boost from this trip, following by another 50 cents from the FS, and you begin to see an offer of $2 plus. I hope IMG buys the rest of OLE that it doesn’t already own. As things currently stand, that would give us around a 16% premium on the buy-out.
” ‘Tis a consummation devoutly to be wished” Hamlet.
Maya, as always thanks for your info. What exactly do you mean by a 16% premium on the buy-out? What numbers are you using to come up with that number?
Thanks again,
Tony
Tony:
The number is just an approximation: 16/102 (IMG shares divided by the current float).
If ABCGold buys Oromin, the money/shares will be divided among X shares (the total number outstanding).
If IMG buys Oromin, the money/shares will divided among those shares that they don’t already own
(X-16 million). The difference is the premium I referred to.
Maya, thanks for clarifying this and for your quick response!
Tony