Oromin Explorations Ltd OLEPF

Prodigy

[couples4]

Another one has gone today,Pdg was bought for 57$/ oz on a fully diluted basis...I do not know if the word cheap is the best to summarize the transaction, but it seems that since the purchase of Trelawney by Iamgold,prices continue to go down even with gold prices up.(If we forget today)...

Trelawney has managed to get about $ 80 an ounce, even if 90% of the deposit was in the inferred category.

PDG got $ 57 an ounce with 95% in the Indicated category.Both have the same grade (about .87 g/t)and are located in the same region(Northern Ontario).

We can not obviously compare these two deposits with that of Ole.The grades are two times higher for the whole project  and I'm pretty sure the cost of labor is quite lower in Africa than in Northern Ontario.But I wonder if it is still realistic to expect to get above $ 100 an ounce...OK,let's say 100$ because there 's a mill on the other side of the street,and they want us desperately and lovingly...So,217 millions$ (our part of the 5 million onces) to be divided by the number of shares on a fuly diluted basis.With the options, we should be given a good 160 million shares.....1,35$ is good enough for me,it remains just a to know if at this price RK will have the means to continue his little contest..

[tony1969]

Hey Couples, I also compared OLE to this takeover and the two things that stood out were the lower grade of PDG's gold and the cheaper mining costs in Africa just as you mentioned.  It sure is a tough market as far as valuations but as you mentoned TGZ's proximity has to be worth a premium.  I am guessing maybe $15 to $20 per ounce in the ground.  By the way

[roadking08]

wow.....2 great post from grumpy and tony have excited and more convinced I will be rich at some point in the future. Top, grumpy told me he went back and read all press release since January 2009 after your post and Stonecap was not mention once for a pp. RBC, Cormark, Toll Cross, Reseach Capital. You are a very good poster, do you have any other thoughts on what these guys are doing? Going&

[couples4]

The thing I like about this board is that the people involved are not here to bully, but to grow knowledge.When I mentioned the number of 160 million shares, I knew that the number was not correct, but I also knew that there would be someone who knows the exact number.This is what makes the difference with other boards where I own shares.I do not know if the end be happy for everyone, but I will

[Capharnaum]

Without a PFS for Prodigy, it's tough to evaluate the property. Tailings and slope may mean high mining cost. Since the acquirer (Argonaut) says their plan is to use a higher grade cut-off to "right size" the property, it probably means the property will be a difficult high cost mining operation. They have approximately 4.3M ounces of higher grade (1.1 g/t) tonnage.