Oromin Explorations Ltd OLEPF

financing coming

[caliche]

if they are out of money (cant drill) and negotiations stalling cause of mali the buying by tc tells me they are going to do another round of financing @.75..probably with a warrant at .9

[Capharnaum]

They aren't out of money, they just don't need to drill since they've decided on selling anyway. If the suitor is Randgold, then they'll wait until the situation calms down in Mali and then announce the deal. 1/100th a Randgold share + $1 per share would be very affordable and lower their dependance on Mali. Value for OLE shareholders would be approx $1,85 per share.

[caliche]

if i was a buyer and i knew they didnt have enough money to continue drilling i would wait them out and pay less..   i have never heard of a co saying "yep we have enough gold.. stop drilling.."   i hate to say it but a financing may be the best thing for ole right now..10,000,000 shares at .75 with a full .90 warrant..i might even buy that..lol   caliche    

[Capharnaum]

If they don't think drilling further will raise the bid, then why spend/dilute?   As to buyers, there are multiple buyers interested, do you think they'll all want to wait out? Why would they pay less by waiting? It's not like the gold is going to disappear. If anything, more shares out, more money in the co = they will pay more if they wait and there's a financing. It's

[newfie36]

They stopped drilling because the deal was done in December. The buyer and OLE are just waiting patiently for the election to pass and once the government stabilizes it will be announced. It would be very stupid of the buyer to allow them to finance at this stage and I firmly believe in the next 2-3 weeks if there is no violence after the election we will finally get our money out of this

[Goldfather]

   I dont think theres gonna be any more drilling. Too expensive, and not necessary. I heard a while back  from a very knowledgeable source, that the majors and mid majors alreazdy know what Ole has. They have their own geologists Reports taht are paid to know this stuff. They knew a while ago... or had enough info  a while ago to get a very good idea what Ole had.... ole

[tony1969]

I agree newfie, if they wanted to continue drilling they would have raised money 6 months ago.  I also believe that they have probably been reviewing several offers and will make a decision a month or so after the election.  I just read that the problems in Mali have been going on for months.  They ( the rebels) have been in control of several towns in northern Mali for a while now.

[tony1969]

You are correct GF, by this time the potential bidders know as much about OLE's resources as OLE does. They are probably given drill results the same day OLE gets them.  I also agree that there will be no more drilling and also no more raising.  After the election gets settled, they will take the highest offer.  It has gotten to a point where it is too late not to sell

[Art35]

$3.00 per share would be just great Tony! Fingers crossed Tony! Look where OLE was back in 2007 $3 to $4. Things were shaping up nicely and then 2008 KABOOM.........$4 to 50 cents   Charts for Oromin Explorations Ltd.  (T.OLE)    $ 0.83 0.00 (0.00%) Volume: 0  3:59

[caliche]

"If they don't think drilling further will raise the bid, then why spend/dilute?"   oromins strategy/bluff has always been if they dont get an offer they like they would go it alone and produce.. by stopping drilling and saying we dont have enough money to continue they are seriously weakening their hand saying i give up, i want out .. make me an offer..   caliche

[run2gold]

I apologize to the board for this post, because I committed to not posting again until the deal is announced.  But I can't let Caliche, who has previously indicated he mostly or completely sold out of OLE to move into NES, make these kind of negative insinuations and assumptions without a response. Caliche, please admit you are not in the know, so you are only making an assumption that

[Capharnaum]

They've been saying openly they were "listening to all offers"... They're not bluffing anymore, they are going to sell the ressource before the end of the year. They've got a coveted world class asset so they'll still get a fair price even though buyers know they are selling.

[caliche]

with all respect run2 who the heck are you .. your id is 5 weeks old..ive been here since 2000 and have over a million reads.. been up and down with ole over 6 years everyone knows that.. you are the one that says you have some elusive "contact" in the know.. please tell me are they drilling? why did they stop? why did they not release that info?   I AM NOT IN THE KNOW..i have never

[run2gold]

Caliche, You stated "by stopping drilling and saying we dont have enough money to continue".  I was not questioning your assumption that they stopped drilling.  I was questioning your assumption that they said they don't have enough money.  Is that your assumption only?  If so, I just wanted you to be clear.  It's kind of an important statement to make

[Capharnaum]

Let's just say that the staff in Senegal (who speak French) are more volubile than Chet. As well, there are news in French about OLE that is not on marketwire and hasn't been relayed here either.   One of the news item out is that Oromin has suitors and is open to all offers as they are planning on selling the property.   From the info I've had, I have absolutely no idea why

[caliche]

Hi Run2.. there was talk here months ago they only had a few million left.. if they stopped drilling i assume it was to slow the burn rate    no one has, in the history of the market, ever said they dont have enough money.. im going by the historical burn rate of the specific company ole projecting when they will run out of money   i wish they would be more clear on what they are

[Capharnaum]

Let's just say that the staff in Senegal (who speak French) are more volubile than Chet. As well, there are news in French about OLE that is not on marketwire and hasn't been relayed here either.   One of the news item out is that Oromin has suitors and is open to all offers as they are planning on selling the property.   From the info I've had, I have absolutely no idea why