Oromin Explorations Ltd OLEPF

RE: Interview with Chet Idziszek

[tony1969]

 

Nice surprise from Chet.  I thought it was very positive.  He seemed calm and confident knowing that he has what he called "the next new gold deposit in Senegal". He mentioned all of their neighbors by name and also said that over 50 million ounces of gold has been found in that region.  I found it interesting how he compared TGZ's resources to OLE's, even going as far as mentioning how much more in percentages they have in ounces over TGZ.  He wanted to make the point that OLE has by far more gold than TGZ. He reiterated several times how substantial the NPV increase will be in the feas study in Q4. He commented that the 2010 study used $880 per ounce gold and had much less ounces. I would assume they would use a minimum of $1200 to $1300 per ounce for this study. By 2011 the project had an NPV of about $460 million including heap leach. I think we should be north of $650 million and possibly over $750 million depending on the POG they use.  Over all some good stuff and we finally heard it from the boss.