Oromin Explorations Ltd OLEPF

RE: RE: Teranga lowers production.....

[dmuy]

I think it's obvious that OLE's oz's would be accretive to TGZ especially looking at how they are quickly advancing the smallish Gora deposit to truck to the mill. Also, they mention they need higher gold prices to convert much of the MFE and LFZ resources to reserves. Interesting tidbits mentioned in the NR:

"In addition, the company continues to review the merits of various debt facilities to provide additional flexibility to execute its growth strategy. Such incurrence of debt may be in the form of one or more borrowings of bank or other similar loans. There can, however, be no assurance that the company will find the terms on such debt reasonable and therefore may not put a new facility in place."

"Conversion of a large portion of these resources to reserves will likely require higher gold prices as the orientation of both the MFE and LFZ appear to be more steeply dipping than originally anticipated, negatively affecting the economics of an enlarged pit shell."

"The Masato deposit outcrops on the neighbouring Oromin joint venture group property to the east of the ML approximately two kilometres from the Sabodala mill. The OJVG has defined an open-pit minable reserve at Masato. The deposit has a strike length of over two kilometres. Gold is hosted in a shear zone that strikes north and sits immediately east of the Teranga/OJVG property boundary in the main deposit area."