Teranga trading last at 2.93
TERANGA CONFIRMS TRANSFER OF GOLD ASSETS AND RECORD DATE FOR IN-SPECIE DISTRIBUTION
Teranga Gold Corporation (“Teranga”) confirms that Mineral Deposits Limited (“MDL”) has announced a record date of 3:00 am (Toronto time) / 7:00 pm (Melbourne time) on Wednesday, December 1, 2010 in respect of the in-specie distribution of common shares of Teranga (“Common Shares”) to be distributed to the shareholders of MDL under the previously announced de-merger transaction. The transfer of the Gold Assets (as defined in the Restructure and Demerger Deed among MDL, MDL Gold Limited and Teranga, dated November 11, 2010 (the “Demerger Deed”)) to Teranga is expected to be completed no later than November 25, 2010. In addition, the previously announced Canadian and Australian offerings of Teranga are currently expected to be completed on or about December 7, 2010. The closing of the offerings are subject to certain conditions, following which the Common Shares are expected to commence trading on the Toronto Stock Exchange and Australian Securities Exchange under the symbol “TGZ”. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. Teranga Gold Corporation Profile Upon completion of the de-merger, Teranga Gold Corporation will be a Canadian-based gold company operating the Sabodala gold project in Senegal, West Africa. Confirmation regarding Oromin Shares for Regulatory Purposes The assets to be transferred to Teranga today pursuant to the Demerger Deed include 18,699,500 common shares (the “Oromin Shares”) in Oromin Explorations Ltd. (“Oromin”), representing approximately 13.85% of the issued and outstanding common shares of Oromin. The Oromin Shares will be acquired by Teranga for investment purposes. It is the intention of Teranga to evaluate its investment in Oromin on a continuing basis and may, from time to time, increase or decrease its holding of Oromin securities, depending on market conditions and other relevant factors. |
AnyBody watching ??? MDM and Teranga Now at $4.44 ! hi of 5.50 !!!!
GF:
MDM had a 1:10 split yesterday. It closed Wed at 1.12… Opened Thursday at 10.8 – after the 1:10 split – and then closed at 10.62…
It has had a precipitous fall today from 10.62 to 4.5…
I don’t think that looks too good for MDM
Here in the states on the pink sheets it is 0.00
h1
Correction:
Here in the states on the pink sheets it is still 1.10
not 0.00
sorry
h1
Teranga…. i see this entire Teranga deal as very positive for Ole… if MDL w/ teranga is only worth $1…. and TGZ is worth at a minimum of $3 by itself, it just says there is so much hidden value. TG will rise to $4 in a few weeks /months w/ the POG and could be volatile… but a Co w/ 3.5 mil gold and a Plant is worth a lot. Ole has the same, just not the Plant and the (Mgmt know how). Getting rid of MDL and the 600 mil shares is a Huge deal…. now some Major can swoop in and Buy TG and Ole w/ a combined 11 mil oz gold ! You know TG would cooperate…. Ole,, we’re not sure of. Yet. But, we all agree its a Natural. They just need someone to Merge the entire deal…. and everyone will make a lot of Money. !
GF:
I do not get what you mean by:
“… if MDL w/ teranga is only worth $1…”
MDL does not own Teranga.
Why do you think TZG will rise to $4?
Also… “Getting rid of MDL and the 600 mil shares is a Huge deal….” Why?
Value is value… the number of shares is irrelevant… if TZG is worth $560M, what difference does the number of outstanding shares matter to a buyer?
IMO – TZG will be more difficult for a major to buy now. A major could have offered MDL money for the Sabadola asset. Now that TZG stands on its own – & it cost a fair amount of money to get it there – TZG will want more… or more likely they have a mindset to “stand alone”,,,, they didn’t do this to be bought out.
h1
Hoosier…. the way i understand it… until the actual final split of the companies…. mdl share holders will receive a percentage of a TG share. And the reverse split 10-1 lowers the amount of MDL shares. But we dont care about MDL , only TG. Getting rid of MDL is the major accomplishment for now. Then making TG a manageable Gold producing Co is the goal.
Still not sure what the exact # of shares Tg will have….but in this case the two companies , mineral sands and Sabadola Gold, are worth more when seperated.
TG will prove to be a very valuable lower Tier Gold company producer. A small jewel for a Major to Gobble up… for probably a large amount. All giving more creditability to the region, and Ole… Getting the two companies will prove to be a major coup to some company for the 11 mil oz both have….. and I was told by an analyst that the $3 offer would increase to the 4-4.50 range b/c of all the reasoms I just repeated. make sense ?
Looks like gold is shortly going to exceed that $1424 hit on Nov 9…….Still expect gold to be $1500 in Q-1 2011 and just maybe it will hit that elusive number this Dec…….
IF gold is at $1500 in Q-1 and Ole does announce Update in Q-1 which shows 5 million ounces , Ole share price should well exceed that elusive $2 share price.. IMO Comments ????
Arline…. next month,,,, next qtr,,,, next year….. getting old. Wheres the $5 & 5 Now !!!!!!!!!! wheres 5 mil oz this qtr… we cant even egt the F%$#^& Update that was promised this Year end. GD liars. Fakes, and Con artists. And we sit at 1.08 ! and all the suckers here were saying November was to eb so wonderful. C’ Mon. wake up. I get a kick out of the posters here that say all this stuff…. and have absolutely no info to back it up . Pumpers are one thing, as this GD thing is a Penny Stock afterr all.
But the dreamers w/ rediculous predictions is soemthing else. Reality is 1.08. Reality is a MGMt that constantly dilutes and delays everything. Reality is POG nearing 1400 again, and ole sp goes down !
GF…the TZG/MDL split was final on Nov 25… TZG is trading stand alone & has 232M outstanding shares
I see what you’re saying… I just do not see how this makes them more of a “buyout target”. Reason…why would MDL go to all of the hassle & expense to split off TZG if all they wanted was to have it bought out…. IMO, they went to all of this trouble to make TZG a long term viable operating entity, with the intent of being a long term “player”.
Otherwise, it would have been easier for MDL to simply have sold the Sabodala assets.
It may get sucked up by a major, but all of this was not done to facilitate that.
Again, IMO, OLE is strategically a better gold concession – more gold, a lot more gold to find, a larger concession, heap leaching capabilities, etc… I also do not believe the “cost of building a plant” is a prohibitive issue for the financial viability of OLE… crap it’s only $300… If I were a major, I sure wouldn’t buy TZG for $1B just to get their plant when I can build my own a hell of a lot cheaper…
The real pain in all of this….is….the…WAIT 🙂
h1
that was suppose to be $300Million for the cost of the plant…..not $300
sorry
h1
G-F……My 5 Million ounce guesstimation was always a year end one…..We will know the year end numbers with the Update in Q-1……Don’t really believe my opinion is ridiculous nor is it punping nor is it a dream but it is my opinion which , incidently is looking more realistic now than when I first made it……Ole is drilling more high grade deposits and will , I believe include more ounces due to heap leaching the lower grades….My $1500 guesstimation has always been for Q-1 2011 , with an outside chance for Dec 2010……..Your frustration is showing , but no need to express it by “blasting” others opinions….
H 1…. TG is a fabulous B/O target, b/c its available to buy . Ole isnt !. Its set up purposely so it cant be Purchased until Mr Mining Man is ready. The Majors dont want to buy any 43%…. and sit around and watch Chet play Gold.
Give him credit…. he set all this up. AQnd the Saudis have enough money to do wahts ever they want. I’m surprised they sit back and watch.
In the Christian calendar we are in the season of Advent which of which a major theme is “waiting.” I feel like I have been in Advent for four years now with no signs of a b/o or anything approaching a deal that would reward stockholders who really helped to launch OLE. Surely Chet must get some feedback from this and other message boards. So Chet, if you are listening,(and you surely must be) please reward those of us who have stood by this company through the last couple of difficult years by making Christmas special this year. Those of us in the good old USA need a tax break this year that may not be in the cards next year.
I am serious. If there is any integrity and concern for those of us who took a chance on your dream and are who are just holding on-give us a sign(not just news of giggles in the office) but some hope that there is good news ahead. Please Santa!!(I mean Chet)
Can anyone explain whats going on here ? There must be some one watching this GD thing from the Company, or some analysts that knows. Please just throw us a Bone here… and give us a clue. Is this bailing out….? late Sept the sp was at 1.47 hi. But even when bonehead Chet announced the 1.30 dilution…. to make a few bucks and stop the Rally,,, the sp held at that price…. now they arent holding…… maybe Chet wanted the rally to stop. But his Institutional guys who just gave him $13 mil for a 1.30 buy , must be yelling out loud. Somethings going on be hind the scenes. And someone knows?
GF- I again will disagree that TZG is a great buyout target… They have to want to be bought out unless its done as a hostile takeover… but its academic.
None the less, you need to relax… and don’t even look at this for a week or two…seriously…
As RiffDoc said… it is Advent season… take stock in what the good Lord has given you already… I mean this with as much internet friendship as can be mustered on a blog. Keep the Faith
Merry Christmas!!!
h1
Dec 01, 2010 09:30 ETOromin Announces
ole is crazy… closing at 1.04 the night before more good news… sigh.
what’s next for us ole investors, will we be moved on from calichebahada.com for clogging up the boards with our groundless speculations that ole will one day come through. will be passed of as riff raff of the investing world and mere internuts. please do not foresake us caliche, you may have moved on but for us ole investors this is all we have left. maybe one day we can all look back and laugh
Caliche—The last two NRs from Oromin appear impressive (excellent) to the layman—i,e. no real geological training/experience…….Would you please give us all your opinion what impressions you may have formed….Would sincerely appreciate it…THX
Caliche—By “last two” , I really meant the last two assay reports……Nov 18 and Dec 1…….Sorry for the confusion…
What is that now—FIVE NRs last two weeks ?? Ole must want someone , or ones , to “officially” know current progress….Hard to believe they are just responding to this board……They never have before…
Ole volume up last two days…..What’s up ?? Precursor to shareprice spike up?? or just normal reaction to good assay reports ?? Any thoughts ?
Hi Arlene!
the results are really amazing. As always the drill results prove that the deposits are there the ounces are there, and more and more the profitability is there. specifically the results show increasing widths with an increasing grade. those grades for africa are crazy high. All in all the stock should be flying.. it isnt .. im at a loss as to why. i even sold some to help the rest of you guys out..LOL
i have been really busy with the newstrike guys. i was downtown friday and was welcomed into the boardroom after an audit meeting. and able to spend a few hours with the board and the geologic staff. i am very impressed. the geology there is becoming predictable, meaning they know where to drill and they know what the will find. The gold is homogeneous, spread evenly throughout the rock and it is continuous meaning there are no layering effects to the deposit. it looks to be a very significant find, just like oromin but im betting they have some brains in their heads and will follow through on getting the share price higher..
Harry
never worry, you guys will always have a home here.. im sure we will all be able to laugh at this fiasco.. but he opportunity costs were too great for me and i sold out most of my position..
i will always keep a core holding for the simple fact i want to see how this all plays out!
warmest regards
caliche
Go Newstrike…Just increased my base another large buy….Selling a large number of Ole, I am with you Caliche, The hold is just to much of an expense at this point.
To date, In two (2) weeks I have made more profit in Newstrike than I have seen in OLE in the past 4 years !!!!!!!!!!!!!
I will hold a large chunk in OLE, but will slowly pull it out and invest in viable companies.
Thanks Caliche 🙂
The Oromin Dec 1 NR included ,IMO , drilling during Oct…..If I am correct , then Ole just might release another one first part of Jan reflecting drilling done in Nov…..Then late Feb , or early Mar , comes the Resource Update reflecting all drilling done through end of year 2010…That Update is the one which may show 5 million ounces….At least , that’s my guesstimation…Any other thoughts , anyone…
If the Q-1 Resource Update for Oromin is indeed around 5 million ounces and price of gold is $1500 at that time , what are your thoughts re what Ole share price SHOULD be……..Remember , they already have an excellent feasibility study published and all indications are that it will get even better …
O.K….No responses , so I will post my own thoughts re Ole share price after the Q-1 Resource Update……Today’s share price of $1.16 SHOULD be tenfold that number shortly after the Resource Update , but will most likely only reach between 2-3 times this number($1.16) ….Big spike comes at buy out time….
O.K……The above post is the “half-empty” viewpoint……The “half-full” viewpoint is one can double or triple their monies in 60-90 days….
I concur with Arlene that this stock should move up sharply in the weeks ahead after the Resource Update. The recent news releases are very encouraging because of the high grade gold, the widths but especially THE DEPTHS! This gold goes down deep! IMHO the b/o cannot be far down the road. This concession is being noticed to be sure. I can’t believe Rangold is not jumping on it regardless of their statements about about developing from within. Ole is a perfect fit for them being right next door. I believe given the recent updates that add significant high grade ounces, this stock should not be bought out for less than $6-$7 a share .So Arlene, put me in the “half-full”column. I know H-1 concurs as well with this thinking. (I think I’ll buy some more tomorrow)
Riffdoc—I also agree that an Ole b/o is not far down the road……Actually , I believe it could happen as early as end of Q-2 , 2011…..Oromin is definitely a viable company and probably represents one of , if not the best, short term plays….I anticipate the Q-1 Resource Update to be a real BLOCKBUSTER (for all the reasons you mentioned)…
Hey Guys, still longer and stronger than ever!! These guys are sitting on more than we think! Where is goldather? Guys, this property is recognized and will be recognized at a much higher price in the future. What is goning on here in the entire world will have to some day be monetized which will be good for gold!! As I have stated before, still long 130k shares between my pops and I!! This stock is not correctly valualted by far according to other tickers and what is being paid for other tickers!
As always, all comments welome !
Thanks,
Tony
I think Teranga now has a market cap around $700 million while Oromin now has a market cap around $140 million…..Looks to me another indication that Oromin still severely undervalued…..Anxiously await Q-1 Resource Update which should cause differential to significantly decrease…(due to the expected increase in Ole Reources and share price)…
Just wish this pig would get back to $1.30 so I can get out with some pride still intact……..It is amazing how a stock with 5 Mil + in gold can be selling at such ridiculous lows………. we have been skanked
Down – Another huge setback for OLE.
What a shocker folks —
U.S. Stocks hit record high for 2010 and OLE plunges???
Where is all of teh excitewment in the Offices tody – Called and they all sound like a steamroller rolled over them ????????
I am thinking that maybe it is time for them to make a movie as we have never seen this much B.S. in a movie before?
Who wants to comment on this last 2 weeks performance…I find it hard to have an upbeat thought on this P.I.G.
DW—–Did you perhaps ask them about the rumors that Chet is accompaning a group of senior stock analysts to Senrgal next month……If true , I believe that would be some good news….
DW—–Oromin closed at $1.05 on Nov 30 and two weeks later on Dec. 14 , it closed at $1.13……..I agree only a 7% increase sure isn’t enough for a stock so severely undervalued………But then , price of gold hasn’t increased that much… Ole’s next big increase.won’t come until the Resource Update in 60-90 days…..
Hi Arlene,
I called them late this morning and to be honest they were so tight lipped about everything…..Commented on NOTHING! The tone in their voices was dead as compared to a month ago. I have a feeling they are pushing this stock back into teh .70 range again for some reason??? I love to watch how the stock starts up and then a 100-200 share sell or buy drives the price into teh gutter????
Gold prices should really have no effect on the price of this stock, if that is the case then we all better prey that Gold hits $10,000 OZ. Are we not getting very close to 5 Mil OZ in the ground PROVED?? We do have 3 Mil or is that just not really there??? I am looking at other mines that have far less than us – Yet they have a much higher price/outstanding ratio than we do…Doing the numbers at 5 Mil which is anticipated we should be hitting $5-$7 bucks right now and then higher on a buyout, yet we sit down on the gutter and watch the Gold World go by us……What ever happened to the days of $4 a share??? That was with what? 1.5 Mil OZ in the ground, lower gold prices and a more stable economy???
I would love to hear someones explanation that knows far more than I do, as I obviously do not understand what the H— is going on with this Company….They are giddie – Then closed lipped – then they chatter chatter – then nothing for months. 2 Reports and then nothing>>>>? Why is it that small no gold companies can put more information out to stockholders than OLE can???
Thanks everyone for letting me RANT ON, I Apologize in advance, but this damned stock has so much upside and very little downside – Yet here we are??? 🙂
DW—Total measured and indicated is around 3.2 million ounces…..I anticipate that the Q-1 Resource Update will increase that by approximately 50%…It will indeed be a BLOCKBUSTER…..Price of gold does affect this stock…Check history….That is fact , not theory…As you are aware , I also believe spot gold price will be $1500 in Q-1……The combination of 5 million ounces proven and $1500 gold price should and WILL send Ole share price significantly higher….At least 2-3 times today’s share price…Although I agree that the biggest share price increase will come at b/o time….B/O time could come as early as end of Q-2…but NLT end of year 2011…Keep the faith…..We are almost there…….
DW—-Oromin released FIVE NRs between Nov 16 and Dec 1……More than ANY one else…..Another may come early Jan with assay results of Nov drilling…..which would make six in two months……….What do you expect ???
DW—–I agree that Oromin has tremendous upside in the next few months with very little , or no , downside..
I continue to agree with Arlene in spite of this horrible sp. Right now I think we are dealing with year end tax selling. Hopefully in the New Year this sp will turn up in a dramatic way.
I know I was ranting and that is the reason I apologized first….Arlene, I like your thought that we could see 2 – 3 times today’s stock price, but again – that is way below market….YES, I do agree that the end sale price is where we will see the money!! But, I am seeing larger gains elsewhere right now.
Any comment about those last end of day trades that just plummet the pricing downward…100 or 200 shares sell off and drive SP downward FAST???
Thanks to the two that commented, I truly do appreciate the input…
DW—-Re those small sells at the end of the day——-I just consider them as “noise” and rightly , or wrongly , assume they are day traders trying to make a couple of bucks scalping….I honestly pay them no mind…..I do agree with Riffdoc , however , that some of the larger sells are most likely end of year tax selling….Try to relax some….2011 will be our year and it is almost here…..GO , OLE , GO ….
Additional Gold Results from OJVG’s Resource Expansion Drilling Program
Dec 15, 2010 09:31 ET
We now have SIX NRs in two months and there are rumors that Chet is accompaning a group of senior analysts to Senegal come Jan……..Is he really starting to promote ??? Anyone calling the office , pls try to confirm that rumor…THX
Caliche—Your thoughts on the last couple assay reports ? …..Do they have a realistic chance of hitting that magical five million ounces with the forthcoming Resource Update reflecting all drilling through year end 2010 ???
Arlene, Call the office..DS is good about taking and returning calls lately…my guess is he will answer all of your questions.
Cliff—-Have tried twice in the last two weeks including today……..DS not in today…
hi Arlene, those results are stunning.. 1/2 an OUNCE over 14 meters!.. WOW im literally struck dumb why those results are not sending this stock to the moon..i think they will hit 5 million ounces this coming year .. and i still stand by my statement that the property will hold 10 million easy
i wish i could help but im speachless.. should be higher way higher..
caliche