Oromin Explorations Ltd OLEPF

RE:RE:RE:I believe that in this environment the best solution for both....

[comet52]

Well after reading the offer and thinking about this it's clear there's no other choice but to tender.  I don't like the price but who does?

-TGZ has the mill right there and can mine/produce the deposit.  OLE never will do this imho.  The current bad environment for gold juniors is going to take years to resolve and borrowing at high interest to finance Chet's Vancouver lifestyle and utter unresponsiveness to shareholders while we twist in the wind is not a plan

-we would at least acquire stock in a producer, which might over time make us whole.  TGZ can produce at considerably lower cost than some in the industry if I'm reading things right, which gives them a chance to thrive in what I think will be a poor environement for gold producers over the next few years.  The p.o.g. could well drop as low as the $800 range, which is where it was before the fear trade set in.  That trade is now dead and not likely to come back.  But even at that price I think TGZ can weather things until the bottom is found (which could take several years).

-the notion that we should hold off because there might be other offers is pure bluster.  If mgmt were serious they'd recognize this opportunity and try to negotiate a better deal, instead they just sit back and hope to make us all suckers one more time.  They have no plan other than some vague hope that "things might get better".  Yeah it sucks to sell at the bottom but that's life when you take risks.  Better to sell and have a piece of something than a whole lot of nothing which what we have now.   I would say what I really think of mgmt here but stockhouse would not let me post that kind of verbiage