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Bullboard - Stock Discussion Forum Oromin Explorations Ltd OLEPF

GREY:OLEPF - Post Discussion

Oromin Explorations Ltd > where do the Saudis fit in this scenario?
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Post by figtrader on Sep 02, 2010 5:11pm

where do the Saudis fit in this scenario?

As you know Bendon International is Oromin's partner in Senegal, owning 43.5% of the venture as far as we know.
If the Newco of Mineral Deposits (or anyone else for that matter) wants this evergrowing deposit, they will have to offer a very lucrative deal to OJVG which of course includes Bendon's share.   This one ain't going that cheap, people.  OJVG could end up with a significant portion of Newco in a joint partnership......or be taken out by someone else altogether. 
Looking forward to the news in the next 10-20 days on increased oz.
Comment by Goldfather on Sep 02, 2010 5:35pm
  Hey Fig...  the Analysis of Oles value  that Mackie and Stateside/Bay Street has been giving lately includes  Benden's 43.5 % share, and Badrs as well. Those guys are saying the $1.20-$1.30  p/ gold oz. We only get our 43.5 % to the Retail Investors  totaling the 132 mil shares out.  Assuming you know all this ....  but yes they have to pony up about ...more  
Comment by figtrader on Sep 02, 2010 7:45pm
the deposit is right on MDL's doorstep....big oz within 3 km of the plant already.The price equivalent for gold in ground should be well over $200, maybe $250.The Saudis will never agree to less in a buyout.OJVG is a partnership with Oromin and Bendon!If they stick together and keep proving up the resource beyond 4 m, the value of the deposit will soar ....and their combined bargaining ...more  
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