Oromin Explorations Ltd OLEPF

Iamgold getting slammed today....

[tony1969]

It is down over 10%.  It did not meet its production goals for 2012 and I just read a Credit Suisse report saying that their cost per ounce will be $850 to $925 well above (36%) CS's estimate of $652 per ounce.  They are apparently in need of some lower cost ounces.  TGZ and OLE will probably show a cost of something around $600 to $650 per ounce.  IAG can easily buy them both and reduce their cost substantially and give a huge boost to their production targets.  Remember they own 12% of OLE which gives them a huge advantage over other bidders.  They must be one of the interested parties because of what I mentioned above and their large investmnet and interest in the company. Comments?

[arlene2]

Tony---Actually , IAG down approx 13% this week---$10.90 to $9.60.........I also believe that they have been one of the interested parties in Ole and Tgz.......IF they were to buy both Ole & Tgz with a combination of cash and stock , lower IAG stock price will mean more shares of IAG needed( as long as Chet holds to his price) which would be good for us Ole shareholders IMO as

[tony1969]

IAG now down 12% to $9.60.  They are projecting production of 875,000 to 950,000 ounces in 2013 at a cost of $850 to $925 per ounce.  By buying both TGZ and OLE they can increase that production by roughly 400,000 ounces per year within a couple of years.  That is about a 45% increase from current (average of 900k this year) production levels. I believe both TGZ and OLE

[tony1969]

Hey Arlene, I just checked on Yahoo finance and as of Sept 30th 2012 they (IAG) had $916.5 million in cash.  They can easily do a cash and stock deal. 

[arlene2]

Tony---How about $700 million for OLE and $900 million for TGZ ......1/3 cash and 2/3 stock....

[tony1969]

That would be great Arlene.  You are right GF this will take a while after the FS but in the end it should be worth the wait.  I can tell you this.  Everyone that has been interested in this property will have the opportunity to look over the FS and be given a chance to talk to management.  I do believe that ultimately the ball will be in TGZ's court unless