Oromin Explorations Ltd OLEPF

the future of Sabodola?

[figtrader]

There is so much confusion by the market on where this play is going.

How about this scenario?

Since they have always said they would fund the construction of a mine and monetize their investment in OJVG, Bendon (and maybe some partner, likely Iamgold or Africa Barrick) will buy out TRZ and the OJVG will be folded into a new company that includes the assets of TRZ.  With a rapidly expanding resource like OJVG, the mine will have huge longterm potential, realize its true potential and be taken out at a significant premium.  Remember the other party that controls part of OJVG is Badr, which is, if I'm not mistaken a part of the Senegalese govt.  They have huge interest in seeing a viable operating mineral resource that will provide jobs and govt revenue over the long term.
 
MDL on it's own can operate for some time yet on their deposit, but the future wasn't that rosy as the deposit was not big enough.  Nevertheless they went ahead and planned the mine expansion......for what?  They had to spin it off so the longevity of the play had legs.  They even asked Bendon if it was ok to buy a part of Oromin (at an attractively low price) which made sense to as an investment for MDL investors.  Visit the TRZ site if you haven't.  The mill is state of the art.

Now that TRZ is sprung loose from MDM, look for these factors to play out.  OJVG which now has 8 drills operating will spill a lot of new information relevant to the exploration and feasibility of the gold milling that have not been evident to the general investing public and frustrating OLE investors for years.  Already they have announced that the gold recovery will be much better than the feasibilty study indicated.  Mackie's report says it's about a million oz more based on their calculations, but who knows what other information OLE will produce to enhance it much further.  Time will tell.
Oromin has indicated they are looking at much deeper drilling some of which the results have been published today.  Very high grades too.  That's the third release this month, unheard of previously.  Time for OLE and OJVG to get on people's radar.

glta
 

[arlene2]

figtrader----latest NR (Dec 1) notes SIX drills being utilized.........You state EIGHT drills.......Error ,  or are two being used for other purposes......If so , what purpose??

[figtrader]

I stand corrected.  You are right. (the 8 drills from different investment opportunity)