Proactiveinvestors USA & Canada Orosur Mining Inc https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Orosur Mining Inc RSS feed en Thu, 13 Dec 2018 07:17:31 -0500 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - AGM Report of Voting and Management Streamlining ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20181127005845/ Wed, 28 Nov 2018 02:00:00 -0500 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20181127005845/ <![CDATA[RNS press release - Annual Option Issuance, Share Issuance, Notice of AGM & Colombia Update ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20181025006128/ Fri, 26 Oct 2018 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20181025006128/ <![CDATA[RNS press release - Orosur Mining Inc. – First Quarter 2019 Results ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20181014005068/ Mon, 15 Oct 2018 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20181014005068/ <![CDATA[RNS press release - Orosur Mining Inc. – Resignation of Director ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20181004005902/ Fri, 05 Oct 2018 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20181004005902/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com/companies/rns/4567/LSE20180928110540_13808974/ Fri, 28 Sep 2018 06:05:40 -0400 https://www.proactiveinvestors.com/companies/rns/4567/LSE20180928110540_13808974/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com/companies/rns/4567/LSE20180928110033_13808960/ Fri, 28 Sep 2018 06:00:33 -0400 https://www.proactiveinvestors.com/companies/rns/4567/LSE20180928110033_13808960/ <![CDATA[RNS press release - Second Price Monitoring Extn ]]> https://www.proactiveinvestors.com/companies/rns/4567/LSE20180913140601_13790103/ Thu, 13 Sep 2018 09:06:01 -0400 https://www.proactiveinvestors.com/companies/rns/4567/LSE20180913140601_13790103/ <![CDATA[RNS press release - Price Monitoring Extension ]]> https://www.proactiveinvestors.com/companies/rns/4567/LSE20180913140034_13790092/ Thu, 13 Sep 2018 09:00:34 -0400 https://www.proactiveinvestors.com/companies/rns/4567/LSE20180913140034_13790092/ <![CDATA[RNS press release - Orosur Enters into Strategic Agreement and Closes US$2.0M Private Placement with Newmont for Exploration of Anzá Property in Colombia ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180909005025/ Mon, 10 Sep 2018 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180909005025/ <![CDATA[RNS press release - Orosur Mining Inc. – Full Year 2018 Results ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180829005734/ Thu, 30 Aug 2018 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180829005734/ <![CDATA[RNS press release - Orosur Mining Inc. – US$250,000 Financing at 102% Premium to Market ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180709005876/ Tue, 10 Jul 2018 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180709005876/ <![CDATA[RNS press release - Orosur Mining Inc. – Appointment of Bob Schafer as Non-Executive Director ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180618006313/ Tue, 19 Jun 2018 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180618006313/ <![CDATA[RNS press release - Loryser Reorganisation Proceedings and Creditor Protection Sought for Uruguayan Operations; Colombian Exploration Continues Forward ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180614006399/ Fri, 15 Jun 2018 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180614006399/ <![CDATA[RNS press release - Orosur Mining Inc. – Gold Mineralisation Confirmed at Charrascala Target, Colombia ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180607005400/ Thu, 07 Jun 2018 03:51:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180607005400/ <![CDATA[RNS press release - Orosur Mining Inc. – Termination of Anillo Option Agreement ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180524006322/ Fri, 25 May 2018 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180524006322/ <![CDATA[RNS press release - Orosur Mining Inc. - Q3 2018 Results ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180415005105/ Mon, 16 Apr 2018 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180415005105/ <![CDATA[News - Orosur Mining lifted by latest drilling results from the Anzá project in Colombia ]]> https://www.proactiveinvestors.com/companies/news/194232/orosur-mining-lifted-by-latest-drilling-results-from-the-anz-project-in-colombia-194232.html Shares in Orosur Mining Inc (LON:OMI, TSE:OMI) opened higher after the South America-focused gold producer reported new high-grade drill results from its Anzá project.

The company announced the results from the last bit of the step-out drilling programme from the APTA target at its wholly-owned Anzá project in Colombia.

READ Orosur Mining beginning to build mineralised strength in depth at Anza gold project in Colombia​

The company said its geological model and understanding of the APTA target has improved and been validated by the drilling.

Drilling has extended the mineralised zone a further 95 metres down dip to a total depth of 400 metres; mineralisation remains open along strike and at depth, Orosur said.

In the southern part of the APTA target, mineralisation has been recognised at lower depths.

Notable drill intercepts from the latest drilling efforts included:

9.62 grams per tonne (g/t) gold over six metres 9.42 g/t gold over seven metres 23.66 g/t gold over one metre 5.28 g/t gold over 12 metres

More detailed drilling results are available on the Orosur web site.

“Drilling results at APTA continue to extend the mineralised area, while also remaining open along strike and at depth, resulting in a drill tested and improved geological model for follow-on drilling campaigns,” said Ignacio Salazar, the chief executive officer of Orosur.

“APTA represents only 10% of the land base of the Anzá project, which covers over 200km² and contains four additional gold targets. We are excited to be drilling Charrascala at present and look forward to testing the broader potential of our additional targets over time,” he added.

Shares in Orosur opened 4.0% higher at 7.15p in London trading.

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Wed, 04 Apr 2018 09:00:00 -0400 https://www.proactiveinvestors.com/companies/news/194232/orosur-mining-lifted-by-latest-drilling-results-from-the-anz-project-in-colombia-194232.html
<![CDATA[RNS press release - Orosur Mining Inc. – Reports New High-Grade Gold Drill Results at APTA, Including 9.62g/t Over 6.0m, 9.42g/t Over 7.0m, 23.66g/t Over 1.0m, 5.28 g/t Over 12.0m & Further Extends Depth of Mineralization to Over 400m ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180403006565/ Wed, 04 Apr 2018 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180403006565/ <![CDATA[News - Orosur Mining beginning to build mineralised strength in depth at Anza gold project in Colombia ]]> https://www.proactiveinvestors.com/companies/news/193151/orosur-mining-beginning-to-build-mineralised-strength-in-depth-at-anza-gold-project-in-colombia-193151.html The latest drill results from the APTA gold property in Colombia are highly encouraging according to Ignacio Salazar, chief executive of Orosur Mining Inc (LON:OMI, CVE:OMI).

“We are very, very pleased with the results,” he says.

Among the highlights from APTA so far are 17.76 grams per tonne over 5.32 metres, 4.89 grams over 13.9 metres, 5 grams over 23 metres and 4.86 grams over a chunky 25 metres.

The depth of the mineralised intercepts varies, but none of them are that far down, and given that this is step-out drilling from areas on which mineralisation has already been established,  Salazar is right to be pleased.

And there could be more to come

“It’s a very good discovery on one of the targets we have, but it’s only the first target,” he explains.

“We’re now moving onto the other target.”

Here, at the Charrascalla prospect, there are plenty of grounds for optimism too.

“It’s very similar in style,” says Salazar. “The geological model is very similar.”

Both Anza and Charrascalla sit on the wider Orosur property known as Anza, and as work progresses, the extent of Anza is growing.

At the moment, Anza has a strike length of 1.5 kilometres and is know to extend down to a depth of 275 metres. But it’s open in all directions, and the full extent of the mineralisation is only just starting to become clear.

READ: Orosur drills more encouraging gold grades at Anza, updates on San Gregorio

Even so, Anza is already attracting serious attention. A 12-14 strong government delegation was down there in mid-February, looking to encourage Orosur to keep up the good work.

Colombia was off-grid for many years due to a combination of guerrilla and cartel activity, an the government is now keen to give legitimate commercial enterprises as much of a leg up as it can.

If, as Salazar suspects, APTA and Charascalla actually join up across the intervening ground to form one major deposit, then Orosur and the government of Colombia will be big winners both.

And as if that wasn’t enough of a proposition, there’s also a possibility that Anza might contain a major porphyry to the north.

“Our main objective at the moment,” says Salazar, “is to demonstrate the bigger potential for the whole area.”

All told, Orosur has 100 square kilometres permitted, with a further 100 square kilometres under application.

And while all of this activity in Colombia is taking place, Orosur continues to produce gold from its San Gregorio mine in Uruguay.

This hasn’t always been an easy operation to work, so back in 2015 Orosur made the decision to start mining underground at San Gregorio without having recourse to new debt or equity funding.

That’s proceeded well enough, although the model has required some tweaking at times, as zones have been declared uneconomic. But moves to the east area of the underground operation are already underway, and reserves here have already been established.

So, there’s still life in the old dog yet, even if Salazar now seems more enthusiastic about the overall exploration potential for Uruguay.

“This greenstone belt is very undeveloped,” he says. And he adds that in Uruguay Orosur needn’t necessarily embark on an elephant hut.

“In Colombia we’re targeting a big resource,” he says. “But in Uruguay if you can get 200,000 ounces you are really making money because the plant and the people are already there.”

It’ll be interesting to see, in the end, where Orosur ends up getting the most bang for its buck. But if Colombia ends up being where the real rock’n’roll happens it seems likely that Uruguay will carry on being the dependable roadie for some time to come.

 

 

 

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Wed, 14 Mar 2018 11:04:00 -0400 https://www.proactiveinvestors.com/companies/news/193151/orosur-mining-beginning-to-build-mineralised-strength-in-depth-at-anza-gold-project-in-colombia-193151.html
<![CDATA[Media files - Orosur Mining 'delighted' by results and progress so far at Anza in Colombia ]]> https://www.proactiveinvestors.com/companies/stocktube/8787/orosur-mining-delighted-by-results-and-progress-so-far-at-anza-in-colombia-8787.html Thu, 22 Feb 2018 09:19:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/8787/orosur-mining-delighted-by-results-and-progress-so-far-at-anza-in-colombia-8787.html <![CDATA[News - Orosur drills more encouraging gold grades at Anza, updates on San Gregorio ]]> https://www.proactiveinvestors.com/companies/news/191889/orosur-drills-more-encouraging-gold-grades-at-anza-updates-on-san-gregorio-191889.html Orosur Mining Inc (LON:OMI, CVE:OMI) continues to intersect good gold mineralisation in drilling at the APTA deposit, one of five identified target areas in the Anzá project in Colombia.

Notable results to date from 17 intercepts in seven drill holes include 17.76 grams per tonne gold over 5.32 metres, 4.89 grams over 13.9 metres, 5 grams over 23 metres and 4.86 grams over 25 metres.

READ: Orosur Mining prioritising profit over production at San Gregorio

“I am delighted to report a strong set of step-out drilling results from our high grade APTA project,” said Orosur chief executive Ignacio Salazar.

“These results continue intercepting high grade gold mineralisation over multiple significant intervals and have extended the mineralised zone a further 75 metres down dip, 50 metres up dip and 85 metres along strike to the north. APTA high grade gold mineralised intercepts now cover a strike extent of approximately 1.5km and depth extent of 275 metres and remains open in all directions. There are 5 more holes drilled in APTA still pending assay results and we plan to drill up to a further 6 holes at Charrascala in the coming weeks. The new drilling planned at Charrascala seek to add an additional mineralised body in an area that is approximately 3 km north-south by 1 km east-west.”

Given the validation of APTA’s geological model with recent drilling, the last phase of this exploration campaign will focus on Charrascala with up to six planned diamond holes to drill test its potential.

As a consequence, there will be a reduction of planned infill drilling at APTA, which will result in approximately 10,000 metres of drilling in total for this exploration campaign, compared to the 15,000 metres previously announced.

WATCH: Orosur Mining 'delighted' by results and progress so far at Anza in Colombia

The reduction in drilling planned for the remainder of this exploration programme will allow increased investment at Charrascala, including additional geochemical work, road access, drilling platform preparation and rig displacements.

Orosur is also adding surface exploration activities, including mapping and sampling, across the broader Anzá project. All permits required to complete this programme, including drilling permits at Charrascala, have now been granted.

Meanwhile, at the San Gregorio mine in Uruguay, the block model which was finalised in the second quarter of fiscal year 2018 showed that the mineralised structure is less economically viable at depth and to the east due to reductions in both ore grade and thickness.

Orosur optimised the mine plan for SGC, but still expects higher unit costs in the third quarter to improve in the fourth quarter when higher grade zones will once again be mined.

 

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Tue, 20 Feb 2018 08:10:00 -0500 https://www.proactiveinvestors.com/companies/news/191889/orosur-drills-more-encouraging-gold-grades-at-anza-updates-on-san-gregorio-191889.html
<![CDATA[RNS press release - Orosur Mining Inc. – Reports High Grade Drill Results, Including 5.00g/t Au over 23m, 4.89 g.t over 13.9m and 4.86 g/t Au over 25.0m at Anzá, Colombia ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180219005663/ Tue, 20 Feb 2018 02:00:00 -0500 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180219005663/ <![CDATA[News - Orosur Mining prioritising profit over production at San Gregorio ]]> https://www.proactiveinvestors.com/companies/news/190018/orosur-mining-prioritising-profit-over-production-at-san-gregorio-190018.html Orosur Mining Inc (CVE:OMI, LON:OMI) is targeting the lower end of its production guidance at San Gregorio as it focuses on profitability over production.

The company said it expects to produce 30,000 ounces of gold at San Gregorio in Uruguay in the current financial year, which runs to the end of May.

READ: Orosur Mining updates on second quarter production issues

Production in the second quarter of the financial year totalled 7,052 ounces, bringing the year-to-date total up to 15,677 ounces, down from 16,802 ounces in the same period of last year.

The company left its annual guidance for cash operating cost of US$800 - US$900 per ounce, after the operating cash cost in the second quarter narrowed to US$867 per ounce from US$914 per ounce the year before.

Operating profit at San Gregorio in the three months to the end of November was US$3.42mln, up from US$2.26mln in the corresponding period of 2016.

The company posted a loss before tax of US$251,000, however, compared to a profit of US$942,00 the year before, mainly due to higher depreciation and the recognition of a provision for staff retrenchments following the second production deferral at San Gregorio West underground (SGW UG).

The miner ended the reporting period with net cash of US$291,000, down from US$4.2mln at the beginning of the quarter. It is focused on preserving cash, and cut staffing levels by 11% at the end of November.

The company is accelerating the preparation and permitting of Veta A, a new underground project that is 1.2 kilometres from the plant, for development.

Initial work indicates Veta A is currently the highest grade source of underground ore available on the San Gregorio mine complex.

Veta A was previously mined as an open pit, producing 29,000 ounces (oz) with an average grade of 3.1 grams per tonne (g/t) between September 2006 and March 2008. Current reserves are 9,440 oz (122,328 tonnes @ 2.40 g/t gold).

Orosur is targeting a significant increase in reserves following a positive drilling campaign that proved the continuity and extension of the ore body over 140 metres from the currently defined reserves. A preliminary study by SRK Consulting at Veta A supports its geotechnical feasibility.

READ: Orosur Mining hits high grade gold at Anzá in Colombia

It said it expects to conclude the first phase of drilling at the APTA zone, which is part of the Anzá project in Colombia next month. Additional drill results are expected by the end of February.

“The company is concentrating on advancing exploration in Colombia while maintaining profitability in Uruguay. We have built the SGW UG mine, entirely financed from cash from operations, while advancing exploration and development around it. SGC is well under way and on track to commence production during Q3 18 and we are swiftly advancing a new higher grade underground mine at Veta A,” said Ignacio Salazar, the chief executive officer of Orosur.

“While we are taking some tough measures to implement this plan, we are getting some initial results already and are proud to count on the support of the Uruguayan government which granted us a second, and unprecedented, annual royalty exemption,” he added.

“As announced in November, preliminary results in Colombia from the current drilling campaign validate the APTA gold potential. Depth potential has been confirmed at APTA with gold mineralization intersected down to 200m. Mineralized zones remain open.

“In addition to APTA, and in respect of the broader Anzá potential, four high priority targets with coincident geochemical and geophysical anomalies, remain untested,” Salazar concluded.

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Mon, 15 Jan 2018 09:51:00 -0500 https://www.proactiveinvestors.com/companies/news/190018/orosur-mining-prioritising-profit-over-production-at-san-gregorio-190018.html
<![CDATA[RNS press release - Orosur Mining Inc. - H1 & Q2 2018 Results ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180114005090/ Mon, 15 Jan 2018 02:00:00 -0500 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20180114005090/ <![CDATA[News - Orosur Mining updates on second quarter production issues ]]> https://www.proactiveinvestors.com/companies/news/187622/orosur-mining-updates-on-second-quarter-production-issues-187622.html Orosur Mining Inc (LON:OMI) has flagged that some 2,000 ounces of gold production is expected to be deferred from the San Gregorio mine’s second quarter.

It comes as a result of extended downtime, specifically two offline drill rigs used in stope production.

READ: Orosur Mining hits high grade gold at Anzá in Colombia

“Work is well underway to repair the machinery and it is anticipated that the affected drill rigs will return to full productivity by the end of November and the Company has already resumed underground production,” the company said in a statement.

READ: Orosur Mining on target to meet full year guidance, as drill rigs start to turn in Colombia

Orosur noted that development work continued in the second quarter and the production operation is being partially supplemented with open pit ore and stockpiles, though this is expected to mean that the production grade will be lower for the quarter.

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Wed, 22 Nov 2017 07:34:00 -0500 https://www.proactiveinvestors.com/companies/news/187622/orosur-mining-updates-on-second-quarter-production-issues-187622.html
<![CDATA[RNS press release - Orosur Mining Inc: Q2 Operations Update ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20171121006208/ Wed, 22 Nov 2017 02:00:00 -0500 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20171121006208/ <![CDATA[RNS press release - Orosur Mining Inc. - Results of Annual General Meeting & Annual Option Issuance ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20171119005027/ Mon, 20 Nov 2017 02:00:00 -0500 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20171119005027/ <![CDATA[News - Orosur Mining hits high grade gold at Anzá in Colombia ]]> https://www.proactiveinvestors.com/companies/news/187213/orosur-mining-hits-high-grade-gold-at-anz-in-colombia-187213.html Orosur Mining Inc (LON:OMI)(TSE:OMI) has hit high grade gold on its Anzá project in the Mid Cauca gold belt in Colombia.

Drilling highlights from the APTA target included 5.47 grams per tonne gold over 4.63 metres, 1.68 grams over 1 metre, including 193.2 parts per million copper and 1.22% zinc, and 17.76 grams gold over 5.32m, including 4,724.7 ppm copper and 4.84% zinc.

READ: Orosur Mining on target to meet full year guidance, as drill rigs start to turn in Colombia

Since mid-October, Orosur has drilled three holes of its planned 15,000m diamond drilling programme.

“These initial results are extremely encouraging, supporting the presence of high gold mineralization over significant intervals and increasing confidence in the mineral body beyond the 17,000m of previous drilling prior to the acquisition of the project by OMI,” said chief executive Ignacio Salazar.

READ: Orosur Mining making swift progress at San Gregorio West, Uruguay

“These results are merely the beginning of Orosur’s first drilling campaign at APTA. APTA mineralization remains open at depth and along strike.”

 

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Tue, 14 Nov 2017 08:21:00 -0500 https://www.proactiveinvestors.com/companies/news/187213/orosur-mining-hits-high-grade-gold-at-anz-in-colombia-187213.html
<![CDATA[RNS press release - Orosur Mining Intercepts High Grade Gold, Including 5.32m at 17.76g/t Au, in Colombia ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20171113006502/ Tue, 14 Nov 2017 02:00:00 -0500 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20171113006502/ <![CDATA[RNS press release - Orosur Mining Announces Notice of Annual General Meeting & Colombia Drilling Update ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20171018006581/ Thu, 19 Oct 2017 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20171018006581/ <![CDATA[News - Orosur Mining on target to meet full year guidance, as drill rigs start to turn in Colombia ]]> https://www.proactiveinvestors.com/companies/news/185620/orosur-mining-on-target-to-meet-full-year-guidance-as-drill-rigs-start-to-turn-in-colombia-185620.html Orosur Mining Inc (LON:OMI) has commenced resource definition drilling in Colombia, following the completion of a US$3.2 mln financing in August.

Around 15,000 metres will be drilled.

Separately, Orosur produced 8,626 ounces of gold from its San Gregorio mine in Uruguay at cash operating costs of US$901 per ounce.

Costs were broadly within the guided range, while the overall production number puts the company well within shouting distance of its full year guidance of between 30,000 and 35,000 ounces of gold.

Ignacio Salazar, chief executive of Orosur, spoke of “the 20th consecutive quarter of meeting internal production and cash operating cost guidance.” 

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Mon, 16 Oct 2017 07:45:00 -0400 https://www.proactiveinvestors.com/companies/news/185620/orosur-mining-on-target-to-meet-full-year-guidance-as-drill-rigs-start-to-turn-in-colombia-185620.html
<![CDATA[RNS press release - Orosur Mining Announces Commencement of Drilling in Colombia & Q1 2018 Results: Production & Operating Costs on Target & Increased Investment & Exploration ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20171015005055/ Mon, 16 Oct 2017 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20171015005055/ <![CDATA[News - Orosur Mining prepares to start new drill programme in Colombia ]]> https://www.proactiveinvestors.com/companies/news/184925/orosur-mining-prepares-to-start-new-drill-programme-in-colombia-184925.html Orosur Mining Inc (LON:OMI) has updated investors on its upcoming drill programme at the Anzá gold project, in Colombia.

Following the group’s C$4mln financing, completed in August, it is now gearing up for a programme of 15,000 metres drilling as is aims to delineate a maiden resource estimate and expand on the known areas of mineralisation.

Preparation work is now underway ahead of drilling, expected to start later this month. First drill results are anticipated during the third quarter.

“We are pleased to announce that the resource definition drilling campaign at our high-grade Anzá project in Colombia, will start in October 2017 following the successful US$3.2m financing in August and recent contract execution with Logan Drilling,” said Ignacio Salazar, Orosur chief executive.

“Orosur is well advanced with its preparatory work for the drilling campaign and Logan is in the process of mobilizing drill rigs to the property at present.

“We look forward to commencing the drilling campaign before the end of the month.”

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Mon, 02 Oct 2017 14:08:00 -0400 https://www.proactiveinvestors.com/companies/news/184925/orosur-mining-prepares-to-start-new-drill-programme-in-colombia-184925.html
<![CDATA[RNS press release - Orosur Mining Announces Upcoming Drill Program at the High-Grade Anzá Gold Project, Colombia ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20171001005081/ Mon, 02 Oct 2017 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20171001005081/ <![CDATA[News - Orosur Mining making swift progress at San Gregorio West, Uruguay ]]> https://www.proactiveinvestors.com/companies/news/184356/orosur-mining-making-swift-progress-at-san-gregorio-west-uruguay-184356.html South America-focused gold producer Orosur Mining Inc (LON:OMI, TSE:OMI) said it is on track to meet its fiscal full-year (FY18) production guidance.

The company provided what it termed “a robust exploration and development update” on its operations in Uruguay.

READ: Orosur boosts cash flow from Uruguay gold production

Highlights included an increase in underground reserves in and around the San Gregorio West underground mine area (SGW UG) and news of swift progress in developing a new underground project: Veta A.

The company added that a district scale geological model has been completed based on structural settings and is being used to search for additional significant discoveries in the 100 km long greenstone belt around San Gregorio (SG). This model has proved successful in explaining the historic deposits and has delivered some initial success at a new open pit deposit.

Orosur said the model will be key to the strategic greenfield exploration of this belt, which is designed to grow mine life and expand production using available spare capacity of the SG carbon-in-leach plant.

Encouraging exploration results at San Gregorio West underground

From 31 November 2016 and the company’s financial year end of end-May 2017, total production from SGW UG amounted to 12,600 ounces (oz).

Current remaining San Gregorio underground (SG UG) probable reserves (i.e. SGW UG plus Central and East) are 34,633 oz, or 664,861 tonnes at 1.62 grams per tonne (g/t) gold.

Further extensions to the east and at depth have returned encouraging exploration results, Orosur said.

Targeting an increase in reserves at Veta A

Veta A is a higher grade, previously mined open pit that had previously produced 29,000 oz @ 3.1 g/t between September 2006 and March 2008.

Current probable reserves have been put at 9,440 oz, or 122,328 tonnes @ 2.4 g/t gold.

READ: Orosur Mining moves attention to Colombia as new investors come on board

Orosur is targeting a significant increase in those reserves following positive drilling conducted more than 40 metres away from the current defined reserves.

“During FY17, we not only transitioned successfully from the Arenal underground operation to the new SGW UG mine but we also ramped up development and exploration activities with the objective of increasing scale and efficiency at San Gregorio,” said Ignacio Salazar, chief executive officer of Orosur.

“We are also pleased to announce positive geotechnical and drilling results in Veta A, as we seek to further advance this project as our next underground operation,” he added.

“Finally, we have now completed a district scale geological model which is already providing encouraging results. In support, we are deploying the necessary resources, including the purchase of a new diamond core drilling rig, to give our team the best chance of making a strategic discovery in Uruguay, which would allow us to increase production and mine-life.

“The company is currently on track to meet its FY18 production guidance and we expect to report back shortly on the start of drilling at Anza in Colombia,” Salazar said.

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Thu, 21 Sep 2017 07:58:00 -0400 https://www.proactiveinvestors.com/companies/news/184356/orosur-mining-making-swift-progress-at-san-gregorio-west-uruguay-184356.html
<![CDATA[RNS press release - Orosur Mining Inc. – Uruguay Exploration Update ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20170920006431/ Thu, 21 Sep 2017 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20170920006431/ <![CDATA[News - Orosur boosts cash flow from Uruguay gold production ]]> https://www.proactiveinvestors.com/companies/news/183086/orosur-boosts-cash-flow-from-uruguay-gold-production-183086.html Orosur Mining Inc (LON: OMI) produced 35,371 ounces of gold from its Uruguay operations in the full year to May 31 2017, following a significant increase in production in the fourth quarter.

The average gold price received was US$1,258 per ounce.

Profit before tax came in at US$2mln, as against a loss of US$3.2mln in the corresponding period in 2016.

READ: Orosur Mining moves attention to Colombia as new investors come on board Successful 2017

During the year the company successfully built and developed the San Gregorio West underground mine from internally generated funds, including US$5.9 mln in 2017.

Orosur had US$3.4mln in cash as at the end of May, but in August completed a US$3.2mln equity raise.

“We are very pleased to report a successful FY17 having achieved a number of important corporate milestones whilst simultaneously delivering in line with production and cost targets for the fourth consecutive year,” said chief executive Ignacio Salazar said in a statement.

“The completion of the recent financing announced on August 11th 2017, which was oversubscribed and at a premium to the prevailing market when negotiated, is an important step to support our growth strategy.”

 

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Tue, 29 Aug 2017 09:29:00 -0400 https://www.proactiveinvestors.com/companies/news/183086/orosur-boosts-cash-flow-from-uruguay-gold-production-183086.html
<![CDATA[RNS press release - Orosur Mining Inc. – Full Year 2017 Results: US$9.7M Cash from Operations, US$2M Profit before Tax ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20170828006117/ Tue, 29 Aug 2017 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20170828006117/ <![CDATA[News - Orosur Mining has sizeable gold opportunity in Colombia according to Cantor ]]> https://www.proactiveinvestors.com/companies/news/182460/orosur-mining-has-sizeable-gold-opportunity-in-colombia-according-to-cantor-182460.html Orosur Mining Limited’s (LON:OMI CVE:OMI) recent funding has given an opportunity for it to become a substantial gold producer, according to house broker Cantor Fitzgerald.

The Uruguay-based junior raised C$4mln (24.1c or 14.7p) through an oversubscribed placing, while warrants exercisable at 20.4p before 2020 may bring in a further £1.7mln.

More importantly, says Cantor, the money has been earmarked for exploration of the Anza licence, near Medellin in Colombia, which will allow cash generated from the producing San Gregorio in Uruguay to be utilised to its mine life.

READ:Orosur Mining gets warm response to Colombia exploration plans

Anza covers an area of 100 sq km and has valid mining and environmental permits with two small gypsum projects on the licence already.

The prospect also lies on the Mid-Cauca gold belt, an area that has already seen a number of discoveries including one 10m oz project just 50km away.

Funds from the placing will pay for a 15,000m resource definition programme at Anza. Drilling by previous owner indicated intercepts 40.5m at 14.1g/t and 14m at 40 g/t from depths of around 175m, while metallurgical work indicated recoveries art 96%, all impressive numbers.

Orosur’s initial exploration target is 200,000oz of gold at the APTA target, but Cantor says that with mineralisation open to the north, south and down dip, a much larger resource ‘must be possible’ over time.

At San Gregorio ...

At San Gregorio, work is currently being undertaken by consultant SRK on a scoping study to expand the central, east and Deeps sections, another underground target Veta A and some surface targets.

More step-up drilling can also be carried on the 100km Cristalina greenstone belt that extends to the east and west of San Gregorio.

Production from the existing operations at San Gregorio meanwhile is estimated at 30-35,000oz this year at a cash cost of US$800-900 and US$1,025 including sustainable capital expenditure.

The broker’s target price is 38p, trimmed to shares issued in the placing, while the sum-of-the-parts valuation is 25p.

Shares were trading at15.3p.

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Tue, 15 Aug 2017 10:01:00 -0400 https://www.proactiveinvestors.com/companies/news/182460/orosur-mining-has-sizeable-gold-opportunity-in-colombia-according-to-cantor-182460.html
<![CDATA[News - Orosur Mining moves attention to Colombia as new investors come on board ]]> https://www.proactiveinvestors.com/companies/news/182334/orosur-mining-moves-attention-to-colombia-as-new-investors-come-on-board-182334.html An oversubscribed placing for a junior gold miner is something to be proud of, especially when the money is going straight into holes in the ground.

Orosur Mining Limited's (LON:OMI CVE:OMI) C$4mln (£2.44mln) placing at 24.1c (14.7p) was warmly received and the money means drilling can start at Anza (in Colombia) without having to divert funds from the producing San Gregorio mine in Uruguay.

Ignacio Salazar, Orosur’s chief executive, said: “The completion of this financing, which was oversubscribed and at a premium to the prevailing market when negotiated, is a testament to the quality of our assets and growth prospects.

“We are delighted to have two new institutional shareholders join our shareholder base while limiting dilution to our existing shareholders.

“The funds raised should allow the company to swiftly commence resource definition drilling in our high potential Anzá gold project in the Mid Cauca belt of Colombia.

WATCH: Orosur Mining funds new grabs for gold in Colombia

Cantor Fitzgerald encouraged by potential in Colombia

The funding has given an opportunity for Orosur to become a substantial gold producer, according to house broker Cantor Fitzgerald.

In addition to the cash already raised, warrants exercisable at 20.4p up to 2020 may bring in a further £1.7mln.

More importantly, says Cantor, the money has been earmarked for exploration of the Anza licence, near Medellin in Colombia, which will allow cash generated from the producing San Gregorio in Uruguay to be utilised to add to its mine life.

READ:Orosur Mining gets warm response to Colombia exploration plans

Anza covers an area of 100 sq km and has valid mining and environmental permits with two small gypsum projects on the licence already.

The prospect also lies on the Mid-Cauca gold belt, an area that has already seen a number of discoveries including one 10m oz project just 50km away.

Drilling by the previous owner hit intercepts of 40.5m at 14.1g/t and 14m at 40 g/t from depths of around 175m while metallurgical work indicated recoveries of 96%, all impressive numbers.

Orosur’s initial exploration target is 200,000oz of gold at APTA, but Cantor says that with mineralisation open to the north, south and down dip, a much larger resource ‘must be possible’ over time.

At San Gregorio ...

At San Gregorio, work is currently being undertaken by consultant SRK on a scoping study to expand the central, east and Deeps sections, another underground target, Veta A, and some surface targets.

More step-out drilling can also now be carried out on the 100km Cristalina greenstone belt that extends to the east and west of San Gregorio.

Production from the existing operations at San Gregorio meanwhile is estimated at 30-35,000oz this year at a cash cost of US$800-900 per oz or US$1,025 per oz including sustainable capital expenditure.

The broker’s target price is 38p, trimmed slightly due to the shares issued in the placing, while the sum-of-the-parts valuation is 25p.

Shares were trading at 15.3p.

--updates for Cantor note--

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Fri, 11 Aug 2017 16:04:00 -0400 https://www.proactiveinvestors.com/companies/news/182334/orosur-mining-moves-attention-to-colombia-as-new-investors-come-on-board-182334.html
<![CDATA[Media files - Orosur Mining funds new grabs for gold in Colombia ]]> https://www.proactiveinvestors.com/companies/stocktube/7920/orosur-mining-funds-new-grabs-for-gold-in-colombia-7920.html Fri, 11 Aug 2017 14:21:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/7920/orosur-mining-funds-new-grabs-for-gold-in-colombia-7920.html <![CDATA[News - Orosur Mining gets warm response to Colombia exploration plans ]]> https://www.proactiveinvestors.com/companies/news/182314/orosur-mining-gets-warm-response-to-colombia-exploration-plans-182314.html Orosur Mining Inc. (LON:OMI) has seen strong demand for a funding to cover a drilling campaign on its acreage in Colombia.

A C$4mln (£2.44mln) placing at 24.1c (14.7p) was oversubscribed and the money means work can start at Anza (in Colombia) without having to divert funds from the producing San Gregorio mine in Uruguay.

San Gregorio is expected to produce between 30,000 - 35,000 ounces of gold at operating costs of US$800 - US$900 per ounce.

WATCH: Orosur Mining funds new grabs for gold in Colombia

With gold at US$1,290 currently, production at this level will allow expansion of the resource base in Uruguay, both underground and at the surface operations,  utilising the processing plant's spare capacity.

In Colombia, a 15,000-30,000 campaign drilling will start this year with the aim of producing a Canadian-standard maiden resource for Anzá.

Ignacio Salazar, Orosur’s chief executive, said: “The completion of this financing, which was oversubscribed and at a premium to the prevailing market when negotiated, is a testament to the quality of our assets and growth prospects.

“We are delighted to have two new institutional shareholders join our shareholder base while limiting dilution to our existing shareholders.

“The funds raised should allow the company to swiftly commence resource definition drilling in our high potential Anzá gold project in the Mid Cauca belt of Colombia.

“Concurrently, cash flow from existing operations in Uruguay can be directed to growing our production profile within the 100 km long greenstone belt we control in Uruguay, as well as around our existing operating mine and CIL plant.” 

Shares eased 7% to 15.01p.

-- adds video, share price--

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Fri, 11 Aug 2017 08:48:00 -0400 https://www.proactiveinvestors.com/companies/news/182314/orosur-mining-gets-warm-response-to-colombia-exploration-plans-182314.html
<![CDATA[RNS press release - Orosur Mining Inc Announces Oversubscribed Conditional Subscription to Raise Approximately US$3.2 Million ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20170810006296/ Fri, 11 Aug 2017 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20170810006296/ <![CDATA[Media files - Orosur Mining's Ignacio Salazar 'very pleased' to hit production targets after underground move ]]> https://www.proactiveinvestors.com/companies/stocktube/7676/orosur-mining-s-ignacio-salazar-very-pleased-to-hit-production-targets-after-underground-move-7676.html Thu, 22 Jun 2017 08:23:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/7676/orosur-mining-s-ignacio-salazar-very-pleased-to-hit-production-targets-after-underground-move-7676.html <![CDATA[News - Orosur Mining hits gold target for fourth year running as San Gregorio West ramps up ]]> https://www.proactiveinvestors.com/companies/news/179523/orosur-mining-hits-gold-target-for-fourth-year-running-as-san-gregorio-west-ramps-up-179523.html A pick-up in production from its new San Gregorio West underground mine in the last three months enabled Orosur Mining Inc (LON:OMI TSX:OMI) to meet production guidance for a fourth year in a row.

Total gold produced for the year to March was 35,371 oz (compared to guidance of guidance of 35-40,000) with a third of that (10,748oz) in the final quarter as SGW ramped up.

Operating costs were also in line with forecasts at between US$800 - 900/oz with cash balances of US$3.3mln at the end of May with debt of US$0.4mln.

WATCH Orosur Mining boss 'very pleased' to hit production targets after underground move

Ignacio Salazar, Orosur’s chief executive, said he was delighted to have met production targets following the move underground.

“Exploration and development work has been running in parallel with production at SGW UG this year allowing us not only to open a new underground mine but also to expand it solely with internal funding from operations.

As well as further expansion at San Gregorio, work this year will be centered on resource definition in Colombia, tapping the potential of the 100km greenstone belt controlled by OMI in Uruguay and advancing Anillo in Chile, he added.

At San Gregorio, in Uruguay,this will mean  underground extensions to the Central, East and Deeps areas and the neighbouring deposits of Veta Sur, Ombú and Veta A.

In Chile, Orosur has extended the deadline to December for Asset Chile to commit funds to the second phase at Anillo, a target that lies between Yamana`s El Peñon and Pampa Augusta Victoria mines.

Asset Chile will fund the work until the deadline with Orosur now able to talk to other potential partners if the event it pulls out.

In Colombia, a 15,000m - 30,000m drilling campaign is planned this year to prepare a Canadian standard compliant resource.

Full year 2017 results are scheduled to be announced in mid-August.

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Tue, 20 Jun 2017 08:21:00 -0400 https://www.proactiveinvestors.com/companies/news/179523/orosur-mining-hits-gold-target-for-fourth-year-running-as-san-gregorio-west-ramps-up-179523.html
<![CDATA[RNS press release - Orosur Mining Inc: 2017 Year End Operations Update ]]> https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20170619006308/ Tue, 20 Jun 2017 02:00:00 -0400 https://www.proactiveinvestors.com/companies/rns/4567/BWIPREM_20170619006308/ <![CDATA[News - Gold production up as Orosur switches underground ]]> https://www.proactiveinvestors.com/companies/news/175865/gold-production-up-as-orosur-switches-underground-175865.html Orosur Mining Inc (CVE:OMI LON:OMI) has seen full a full quarter of production at the new San Gregorio West underground site in Uruguay.

Around 60% of the 7,800oz produced in the three months to February came from the SGW operation.

A lower gold price clipped after tax profits to US$363,000 (US$3.07mln) but house broker Cantor noted that cashflow rose in the quarter.

So far this year Orosur has generated US$8.7mln in spare cash while profits year-to-date have risen to US$4.1mln (US$480,000).

The junior expects production of between 35-40koz of gold for the full year at cash costs of between US$800-900/oz, which implies a sharp pick-up in output in the fourth quarter said Cantor.

The broker’s target price remains 44p compared to 14.2p, up 1.6%, today.

--updates for broker comment, share price--

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Mon, 03 Apr 2017 15:52:00 -0400 https://www.proactiveinvestors.com/companies/news/175865/gold-production-up-as-orosur-switches-underground-175865.html
<![CDATA[News - Broker slaps big price upgrade on Orosur Mining ]]> https://www.proactiveinvestors.com/companies/news/172106/broker-slaps-big-price-upgrade-on-orosur-mining-172106.html A new price target from Cantor Fitzgerald points to potential upside of over 150% at Uruguay-based gold miner Orosur Mining International PLC (LON:OMI TSE:OMI).

Orosur runs San Gregorio, the country’s only gold mine and is making significant progress towards defining new deposits and reserves close to its existing operations argues the house broker.

“We note a new determination on the part of the company in replacing reserve at its operations in Uruguay where exploration is underway on extensions to the new SGW underground workings and at nearby open pit targets.”

In addition, it has recently made a commitment to drilling its Anzá project in Colombia which should lead to a maiden resource estimate.

At San Gregorio, Cantor said it has been impressed by the smooth transition from the underground workings at Arenal to SGW (west).

The miner has reiterated its production and cost guidance for 2017 at 35-40,000oz and US$800-900/oz respectively, but Cantor is going for 36,600oz, leaving the company with 19,800 oz to produce in the second half or 18% more than in the first six months.

“As the new SGW mine stabilises during the period and open pit production is maintained, we believe this target should be comfortable.” The broker's estimate for cash costs has also been trimmed by 3.5% to US$816/oz.

“Based on our revised estimates and current peer group multiples our US dollar valuation for OMI rises by 13% to US$54m (C$0.73/share) but at current exchange rates the sterling target price rises by 36% to 44p.” Buy is the investment view.

Shares in London rose 1.5% to 16.75p. The miner is also listed in Canada.

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Tue, 24 Jan 2017 11:25:00 -0500 https://www.proactiveinvestors.com/companies/news/172106/broker-slaps-big-price-upgrade-on-orosur-mining-172106.html
<![CDATA[Media files - Orosur Mining chief 'very excited' about the prospects of developing Anza project ]]> https://www.proactiveinvestors.com/companies/stocktube/6768/orosur-mining-chief-very-excited-about-the-prospects-of-developing-anza-project-6768.html Fri, 20 Jan 2017 12:21:00 -0500 https://www.proactiveinvestors.com/companies/stocktube/6768/orosur-mining-chief-very-excited-about-the-prospects-of-developing-anza-project-6768.html <![CDATA[News - Orosur Mining to step up Colombia exploration ]]> https://www.proactiveinvestors.com/companies/news/171867/orosur-mining-to-step-up-colombia-exploration-171867.html Orosur Mining Inc (LON:OMI ASX: OMI) is to push ahead with a drilling programme at Anzá in Colombia after initial work indicated a significant amount of gold mat=y be present.

A model based on re-working historic drill data from the Aragon-Pastorera Trend Area (APTA) suggested exploration potential of 1.6mln - 2.3mln tonnes averaging between 3.2 - 3.7g/t of gold per tonne.

Orosur believes the mineralized zones in the APTA continue, both at depth and at the surface, to the north and south of the limited area. As such, there is the potential for a much larger resource base to be identified.

The drill campaign will be between 15,000m - 30,000m  and will lead to a  maiden NI 43-101 report for Anza.

Ignacio Salazar, chief executive, said: “Orosur acquired Anzá in July 2014, through its nil premium all share acquisition of Waymar Resources, at a time when little to no value was being given to exploration projects.

“The company believes that Anzá has significant upside and we expect the project to take a more prominent standing in our suite of South American gold assets in the months to come.”

Broker Cantor  added that today’s announcement begins to put some meat on the bone in terms of quantifying the project’s potential while the planned 2017 drilling campaign shows Orosur's commitment to fully assessing Anza’s mineral potential.    Furthermore, the project benefits from having existing mine and environmental permits as well as good supporting infrastructure, it said.    Cantor said its 32p target price includes just 2.4p for Anza at present, reflecting the price paid by OMI for the project in 2014.    Shares rose 1.6% to 16.8p.   -- update for broker comment -- ]]>
Thu, 19 Jan 2017 08:44:00 -0500 https://www.proactiveinvestors.com/companies/news/171867/orosur-mining-to-step-up-colombia-exploration-171867.html