Oromin Explorations Ltd OLEPF

Possible reason for crosses..

[tony1969]

I already established that when you trade about $4.5 miilion dollars over two days on the Canadian side both sides of these pre arranged trades know whats up.  Maybe this deal will take longer than we think and some holders are tired of waiting and sell and the buyers who know they are probably getting in really low are wiling to buy and wait for a deal. Maybe TGZ or IAG or whoever are increasing their shares to make a buyout or financing a deal less costly in the future. Maybe OLE mangement is reducing their shares here (selling to the buyer) in exchange for the promise of comparitively more shares in the acquiring company.  For example issuing 10 million shares to OLE execs in the buying company is a lot less costly than having to finance lets say $20 million dollars more (for the shares of OLE management currently owns) if this deal goes for around $2.00 per share.  Some one just picked up other 3% of the fully diluted 150 miilion shares for about $4.5 million.  That would put TGZ at closer to 20% ownership or IAG at over 15%.  This last guess is probably not likely to happen. Nevertheless, just three possible but probably inaccurate scenarios to think about.  Like you siad Caliche and Top this one is hard to figure out.  As you can see I am just pulling scenarios out of my ......Comments?

[run2gold]

Tony, Three well-described possible scenarios.  Bottom line is, we finally have movement.  That means something is getting close, and the one scenario I can't imagine is shutting down the business.  So, in all other scenarios we can think of, Chet and the management are finally about to establish a value for this business that the stock will reflect, and no one in their right

[topoftheridge]

Tony and Run2gold agree with both of you 100%, if "bad news" is coming a dump of 4.6 million shares yesterday would have dropped OLE to ?, 50 cents maybe? Run2gold,  you sum it up... "it is what it is", OLE will get bought within 3 months, for $1.50 to ?, will hope to but some more soon too....

[arlene2]

Tony.....As usual , you bring up a lot of "food for thought"....All scenarios are possible , some more probable than others     BUT , I , for one appreciate your presenting them.....I am old , but not too old to learn....That being said , I still believe AFRICAN BARRICK and IAMGOLD are the front runners...I am not a big fan of  TGZ.  Pls keep sharing any

[tony1969]

Thanks Arlene, I am working on my next possibility.

[tony1969]

Maybe TGZ is swapping some shares with IAG in order to have them both have around the same amont of shares and structure some kind of deal to both take out OLE. Then maybe in the future sell to a major when they are producing 300k ounces per year. With the help of IAG it would be no problem for something like this to occur. You (TGZ) sell me some cheap shares now (IAG) and the transaction

[tony1969]

Maybe it is as obvious as OLE's top two holders getting together and structuring somekind of deal. 

[caliche]

    my guess is img pulling the rip cord and selling for a 25% gain to?????    question.. does anyone want tgz shares? since they dont have any $$ to pay cash..    i agree with arlene.. not a fan..   caliche

[topoftheridge]

Agreed TGZ shares would suck and they have the overhang of the hedge of 170000 ounces at $850 , the combo makes senses and 40+ years of 200000 ounces per year has got to be worth something

[topoftheridge]

We need to get a life

[run2gold]

Tony, No idea if the TGZ and IAG cooperation is correct, but it's a brilliant concept.  Either way, one company (the seller) has made a concession to move these shares at 0.90 and must be getting something in return in the final buyout, and one company (the buyer) is likely setting themselves or a consortium up to complete the buyout. run2gold

[goldn1]

  Rather than guessing, probably the best way to get Oromin to talk is by a few of us contacting the Market Surveillance department of the TSX, as there is definately unusual trading going on and the are the ones that made OLE released the initial buyout talks back on December 7th. Just a thought...   G1

[johnnycash&stocks]

yes please, can one of you candiadense folk contact security. this sucks having 30 times average volume and such unstability of a firm in buyout talks. we the shareholders demand a news release, then and only then will we think about getting an actual life.   I cast my vote here for contacting the Market Surveillance department: +1  

[topoftheridge]

i don't think we need to limit it to Canadians... everyone can send a message i used this address [e-mail] don't know if it is the right address to send it to, or if anything will be done but....

[run2gold]

Contacting TSX won't help.  Chet will release the deal when it's done. Heck, we don't need more attention.  I'm still accumulating shares.  Can't find a downside unless Chet is closing the business, and there is no way that's happening.  I hope it drops a few more pennies (would shock me though after Friday).  Again, sorry for those who have watched

[run2gold]

Tony, Was thinking further about someone or company buying $4.5 million worth of OLE stock in pre-arranged trades. It has to be the ultimate buyer.  No one else could get away with a trade like that on inside knowledge without running into serious legal problems.  The question is who is the seller.  Does OLE have undistributed treasury shares?  They might sell a few to build

[tony1969]

Run2gold, those big block crosses probably are related in some way to the ulimate buyer. As far as a PP, I do not think it will happen but I wouldn't put it past Chet if he feels cornered and feels like there may be other options in the near future.  We have come to a point where it is very difficult to justify more dilution while paying yourself bonuses and huge