Orosur Mining Inc (OMI)

Sector:

Mining

Index:

FTSE AIM All-Share

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4.90p
   
  • Change Today:
    -0.25p
  • 52 Week High: 10.25
  • 52 Week Low: 1.63
  • Currency: UK Pounds
  • Shares Issued: 146.80m
  • Volume: 668,795
  • Market Cap: £7.19m
  • Beta: 0.11

Orosur talks over options following busy quarter

By Iain Gilbert

Date: Tuesday 16 Apr 2019

LONDON (ShareCast) - (Sharecast News) - South American-focused gold developer Orosur Mining has been evaluating options with its Chilean lawyers after an arbitration tribunal ruled that its wholly-owned subsidiary Fortune Valley was required to pay Anglo American Inversiones roughly $1.6m plus interest.
Orosur, which adopted an aggressive strategic plan to restructure its businesses back in May 2018, has been looking to recapitalise and transform itself by advancing its operations in Colombia, with Newmont Mining as a partner, and find a "fair solution" in Uruguay and reduce its activities in Chile.

During the third quarter, Orosur received the first of four half-yearly payments of $500,000 from Newmont Mining for exploration costs at the Anzá project in Colombia, while its subsidiary Minera Anzá received a further $240,000 from Newmont Colombia for property maintenance costs.

In Uruguay, Orosur has received support from 72% of its creditors for the reorganisation of its operations there. Loryser, Orosur's largest Uruguayan subsidiary, will manage a process, to be completed within two years, whereby the net proceeds from the sale of assets in Uruguay will be used to reclaim and close operations responsibly, with any leftover funds set to be returned to investors.

Chief executive Ignacio Salazar said: "At the end of 2018, the company managed to close two key strategic agreements which provide a platform to transform Orosur: in Colombia with Newmont and with Loryser creditors in Uruguay.

"The company has been working diligently to deliver on both agreements during last quarter and remains committed to its plan to restructure its businesses, and recapitalise and transform the company."

As of 0900 BST, Orosur shares had slid 3.23% to 3p.

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OMI Market Data

Currency UK Pounds
Share Price 4.90p
Change Today -0.25p
% Change -4.85 %
52 Week High 10.25
52 Week Low 1.63
Volume 668,795
Shares Issued 146.80m
Market Cap £7.19m
Beta 0.11

OMI Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
46.63% above the market average46.63% above the market average46.63% above the market average46.63% above the market average46.63% above the market average
44.54% below the sector average44.54% below the sector average44.54% below the sector average44.54% below the sector average44.54% below the sector average
Price Trend
95.02% below the market average95.02% below the market average95.02% below the market average95.02% below the market average95.02% below the market average
19.69% above the sector average19.69% above the sector average19.69% above the sector average19.69% above the sector average19.69% above the sector average
Income Not Available
Growth
27.77% above the market average27.77% above the market average27.77% above the market average27.77% above the market average27.77% above the market average
77.42% below the sector average77.42% below the sector average77.42% below the sector average77.42% below the sector average77.42% below the sector average

OMI Dividends

No dividends found

Trades for 16-Aug-2019

Time Volume / Share Price
15:21 15,092 @ 4.80p
15:04 6,000 @ 4.99p
14:40 30,121 @ 4.95p
14:34 80,971 @ 4.94p
13:53 68,505 @ 4.95p

OMI Key Personnel

CEO Ignacio Salazar
CFO Victor Hugo

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