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Epic & Msn data
Epic OMI
Time: 12:30:07
Mid Price: 29.75
Change Today: 0.75 Ascending
Change % Today: 2.59 Ascending
Fifty Two Week High: 39.50
Fifty Two Week Low: 16.50
Market Capital: 19.17
Period & price data
Period Price
Now: 29.75
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: AIM / TSX-V
Sector: General Mining - Gold
Epic: OMI
News: Latest news
Web Site: Orosur Mining Inc.
Other Articles: 26-02-201025-02-201014-01-2010

Orosur Mining Inc.

Orosur Mining Inc. is a gold producer and exploration company focused on identifying and developing gold projects in Latin America. The Company is a fully integrated mining company, possessing the skills necessary to explore and develop its discoveries. The Company operates the only producing gold mine in Uruguay (San Gregorio), and has assembled an exploration portfolio of high quality assets in Uruguay,Chile and Argentina.

CLICK HERE FOR FULL ANLAYSIS OF OROSUR MINING INC.
Thursday, December 31, 2009

BC Supreme Court gives nod to Uruguay Mineral Exploration and Fortune Valley merger

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Uruguay Mineral Exploration (TSX-V: UME, LSE: UGY)  and Fortune Valley Resources (TSX-V: FVX) announced that the BC Supreme Court has approved the proposed plan of arrangement previously announced by the companies and approved by the Fortune Valley shareholders.


The completion of the plan of arrangements is expected in the middle of next week, being subject to the acceptance of the TSX Venture Exchange.


The two companies signed the agreement in early November, agreeing to combine their businesses o create significant Latin American focused gold producer was announced on October 13.


A newly combined group will have the financial and technical resources to develop its business and capitalise on growth opportunities in Latin America. Additionally the group will have no debt and no hedging, with approximately C$8m of cash.


The merger will set up a Latin American operating gold producer, with a profile of at least 190,000 ounces over the four years to May 31, 2013. The open pit operations at the San Gregorio mine in Uruguay has the potential to significantly improve this production profile and reduce cash costs with the development of the Arenal Deeps underground deposit.


In Chile a planned exploration and development program will target the definition of an NI 43-101 compliant mineral resource. The program is expected to commence within 3 months of completing the transaction. The objective is to create a second production asset for the group within 3 to 4 years.


In addition to the new company’s enhanced production capacity there is further growth potential from the combined exploration portfolio in Chile and Uruguay including the Anillo project in Northern Chile which neighbours the El Peñón mine operated by Yamana Gold Inc (LSE: YAU, NYSE: AUY).


Under the terms of a letter of intent signed by the two companies, it is proposed that Fortune Valley shareholders will receive approximately 0.456 UME common shares for each common share of Fortune Valley held. The offer represents a purchase price of approximately C$0.23 per Fortune Valley share valuing Fortune Valley at approximately C$8.2m.

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