Update...Just got this from OSU, seems to be dead on, imo…
G1
Investors:
Still no word from manangement, but I understand from several good sources that there was an opportunity for Oromin to make a deal to sell off the gold interests, but the JV Group decided to hold off, try to prove more ounces and sell off at a higher price, hence the latest private placement to allow them to stay afloat for a few more months.
Still hard to understand why MDL has a market cap of over $500 million and Oromin can’t crack $100 million with 3 million ounces and several new high grade discoveries. I have heard that there are a number of updated drill results/assays of the higher grade targets, but management won’t release until after the PP is finalized as they don’t want to have to explain why they gave away 7 million shares at $.85.
I wouldn’t expect a buyout until 2010, but at least the end is near. Watch for management to load up on giving themselves a bunch of cheap options/warrants to line there pockets before the buyout…
OSU