IMG Consider these comments from the Globe and Mail article and then ask yourself if this is someone looking to buy Oromin.
“What I am saying is, what an opportune time to buy equities, to buy companies, and pay cash,” said Mr. Letwin, who is looking to buy undeveloped gold assets in the Americas that can be developed for about $1-billion.
“You’ve had juniors fall off 45 per cent to 50 per cent, some 70 per cent from a year ago,” Mr. Letwin noted in an interview. “And when you look at the cost to acquire gold in the ground that has been pretty well-identified, you can buy an ounce of gold, pre-development, at around $65 to $70 an ounce. That’s attractive.”
Mr. Letwin would not say much more about what he plans to buy, except that he wants to add between 400,000 and 500,000 ounces through acquisitions, and that there are likely five candidates worth looking at in his target geographies of North and South America.