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Market: AIM / TSX-V
Sector: General Mining - Gold
EPIC: OMI
Latest Price: 9.50p  (2.70% Ascending)
52-week High: 51.00p
52-week Low: 9.13p
Market Cap: 7.43M
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Deal OMI Tax Free*
*subject to change and depends on individual circumstances.
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Orosur Mining
www.orosur.ca
Deal Orosur Mining Tax Free* Losses can exceed
your initial deposit *subject to change and depends on individual circumstances.

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...

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Full Orosur Mining profile here
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Orosur Mining to maximise cashflows ahead of dividend

October 18 2012, 8:19am It hopes to produce 70,000 ounces per year

Orosur Mining (LON:OMI, TSE:OMI) has outlined how it will maximise cashflow in order to pay a dividend.

It will focus on extending the life of San Gregorio, Uruguay’s only producing gold mine, while targeting production of 60-70,000 ounces of the precious metal per year at a cash cost of $810 an ounce.

This, management believes, will allow Orosur to pay for the work required on San Gregorio while funding the payout to shareholders.

The first dividend is likely to be paid in January 2014, rather June 2013 as first scheduled. 

Separately, Orosur said if it is able to extend the mine’s life beyond three to five years this it would “significantly enhance” the company’s value.

It also points out that San Gregorio has had three to five year mine life for the last 15 years.

The key to the company’s strategy will be the ramp-up of the Arenal Deeps portion of the project, which is slated for completion during the third quarter of fiscal 2012/2103

This is important as it opens up higher grade and lower cost production and significantly reduces capital expenditure. 

Existing output is coming from the lower grade room and pillar stopes. 

Orosur also said it will advance existing projects at Anillo, Pantanillo and Talca in Chile to what it described as the commercial assessment stage.

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