I’ve communicated with Oromin’s President and was told he knows of no corporate development to explain the decline in the company’s share price today.
Watching the trading and knowing the brutal condition the junior resource market is currently in, my best guess was a market order (or an order that required selling ASAP) hit and is now being followed by more distress selling caused by the selling itself. Numerous people say they want to buy but only if they know it was the bottom. Since I never ever imagined the share price at this level to begin with, I’m the last one to say its a bottom.
There’s no easy solution to any and all juniors that have been hammered and I suspect OLE is just one of many that are witnessing shareholder mental and financial exhaustion and selling is their only relief. Call me crazy but I’m looking to buy more (on the assumption at least one reader will take me in when my wife tosses me out).