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Grandich Client Oromin Explorations

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First and foremost, this is without a doubt the worse junior resource bear market I ever experienced.

Only time and a significant rally in gold back to the old highs IMHO can arrest this darkness (and sour taste in the pit of my stomach).

Having said that, I asked Chet Idziszek, President of Oromin Explorations (a client of Grandich Publications, a company I now personally control around 2. 5 million shares in and am currently down over a million dollars on paper in), what’s the bottomline now for OLE given OLE’s latest news? Here’s the exact answers I received from him:

PG       What is the significance of filing the FS and PEA reports?

CI        These reports confirm the OJVG Project as a strategic gold asset within the Sabodala Gold District in Senegal.  They outline the high quality of the OJVG asset based on future DCF (discounted cash flow) analysis that is backed by very detailed and expensive reports by world renowned and high standard independent mining engineering group – SRK Consulting (Canada) Ltd.

 

 PG       Please explain further?

CI        The robust economics outlined in the CIL Feasibility Study and the Heap Leach PEA paves the way for the development of the next gold mine in Senegal – a mine with the largest reserves and highest recoverable gold grade in Senegal.

 

PG       Have all necessary steps towards project development been achieved?

 CI        As outlined in our recent news releases, and power point update, all key project milestones have been achieved – the project has now been de-risked and is construction-ready.

 

 PG       What is the next step?

 CI        The filing of the detailed technical and financial date on SEDAR, provides the necessary back-up for an up to date valuation of the project (the previous Feasibility Study was dated mid 2010) to the mining community, investors, bankers and interested parties.  With the foregoing in hand, Oromin is diligently working with our partners and its financial advisor, RBC Capital Markets to assess development, financing and strategic alternatives towards maximizing project value, including discussions with various parties that could lead to a potential acquisition of Oromin.

Thank you Chet.

I’ve been buying more shares down at levels I never imagined we see again (so take that into consideration) and am going to suggest that if you’re like me and own shares closer to $1, you consider averaging down now. The fact that even the thought makes you want to heave is quite understandable but knowing there have been numerous past bear market in juniors, I’m going to assume as they went from bear to bull so shall this one too (keeping in mind when one assumes he can make an ass-u-me).

 

 

 


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