Oromin Explorations Ltd OLEPF

FS postponed until late in January 2013

[doublem2]

OJVG Gold Project – Status of Feasibility Study Oromin Explorations Ltd., on behalf of Oromin Joint Venture Group Ltd. (“OJVG”), provides this update on the status and expected timing of a complete Carbon-in-Leach (“CIL”) Feasibility Study on the OJVG Gold Project in the Republic of Sénégal, and of an updated Preliminary Economic Assessment (“PEA”) of certain heap leach potential at this project. Our engineering consultants, SRK Consulting (Canada) Inc. and Ausenco Solutions Canada Inc., advise that results of the CIL Feasibility Study and PEA update are progressing well towards being available in the second half of January 2013. The deferral of this target date, previously expected by the end of Q4 2012, is in part due to the new resource model driving more significant physical and economic updates than were anticipated, and in part due to the Christmas Holiday period affecting various work and delivery schedules. This brief delay will allow the consultants to incorporate the most current estimates of capital and operating costs into the related financial analysis for the project’s revised production schedule. Our consultants have advised us that the process of establishing mining schedules and reserve estimates which will be evaluated in the Feasibility Study technical and economic model is very well advanced. As could be inferred from our announcement of an expanded resource base in the resource update made in our news release of October 1, 2012, we expect the capital and operating parameters of the updated studies will embrace significantly increased mineral processing quantities and

[tony1969]

I wonder what the rest of the email says. The one I received was also cut off at the end. This news was not unexpected as they were cutting it too close to the holidays . They will get more attention in Jan 2013.

[doublem2]

Sorry Tony,     Pasting it from the PDF cut off a few words. Here is the last paragraph. Doublem2 "Our consultants have advised us that the process of establishing mining schedules and reserve estimates which will be evaluated in the Feasibility Study technical and economic model is very well advanced. As could be inferred from our announcement of an expanded resource base in

[hoosier1]

tony... I sure don't want it to always look like I'm refuting or commenting adversarially to your posts... not purposeful in that regard... But.. why is this announcement of a delay "not unexpected"? I wasn't expecting them to be delayed.  They have never hinted that they would be delayed... for once I was actually expecting them ti hit their date. The only way this is

[topoftheridge]

agree with hoosier, absolute frickin useless tools... (describing myself for being an Oromoron) the only positive for us Canadians is we will get to put some OLE shares into our TFSA's at  55 cents or so first week of January!!!!!!!

[tony1969]

That is why.  They have always been late on their reports. The closer they got to the holidays the more I thought they would push it to Jan when a release would attract more attention.  This is their last ditch effort to show what they have.  They have obviously received interest and bids from several parties during their last year of negotiations.  It is now time for the final