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Orosur Mining Inc

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 Columbia.

Orosur Mining is traded in the ISDX Exchange HERE

Orosur Mining Inc

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Big picture - Why invest in Orosur Mining Inc

Orosur Mining Inc Snapshot

Our Vision


Orosur's ambition is to be a premier gold mining company with:

A diversified South American asset base of high quality gold assets at varying stages in their life cycle

Maintain optimal operating practices

Focus on attracting and retaining talent throughout the organisation

Reward our investors through consistent pursuit of providing additional gains for shareholders


What sets us apart:

Demonstrated abilities across exploration, development, operations and community relations

Track record of optimising production, costs and exploration efforts

Our operating team is local and based in the countries we operate in

Board and management team with proven geological, technical, operating and corporate development expertise

Production : San Gregorio


Orosur contols over 570,000 hectares in Uruguay and ~65,000 hectares of mining and exploration tenements in the San Gregorio vicinity


The mine historically produced through a series of open pits, and in 2011 commenced development of Uruguay’s first underground gold mine, the presently producing Arenal Deeps mine. Project infrastructure, access, power and communications are good with access by paved road, grid and cellular connection and a local workforce in Minas de Corrales, a town approximately 5km from the mine.


For further information please click here 


Exploration and Development 


Chile - Pantanillo Project


Pantanillo is owned 100% by OMI and is located in the High Andes of the Atacama Region of northern Chile at an average altitude of 4,560m above the sea level. The city of Copiapó is located 125km to the west, which can be reached through the San Francisco international route. The La Coipa mine is located 75km north-northwest next to the same road and Cerro Casale is 47km southwest close to the Pircas Negras international route.


Pantanillo is part of the Maricunga belt, located in the midst of five of the best endowed gold belts in the American Cordillera, including both porphyry Au-Cu and epithermal High Sulphidation Au-Ag deposits. The gold contained in the region is calculated to be more than 70 Moz including recent discoveries and historic data.


For more informationm please click here


Anillo Project 


The Anillo Project is located 125km east of Antofagasta between the Yamana’s El Peñon mine and Pampa Augusta Victoria project Exploration efforts are targeting high grade Au-Ag quartz veins similar to veins and hydrothermal breccias seen in neighbouring projects.


OMI's wholly owned Chilean subsidiary. Fortune Valley Resources Inc., signed an earn-in agreement in September 2009, on the Anillo Project, with Chilean state entity, Corporación Nacional del Cobre de Chile (“CODELCO”), giving OMI the right to earn-in to a 65% interest in the Project in return for completing i) US$3 million of staged exploration expenditures before September, 2013 (since completed), and ii) the completion of a feasibility report by September 2015. OMI has spent US$4.3 million to date.


In November 2014, OMI announced the execution of a no cost extension of its farm-in contract at its Anillo Project with Codelco until January 2020 with a further option to extend for an additional 2 years to 2022. The September 2015 deadline has now been extended with Codelco until January 2020, which may also be extended a further 2 years to January 2022 with a discovery and the definition of a mineral resource by 2020.


In November 2014, OMI announced the execution of a non-binding letter of intent with Chile to Asset Chile Exploración Minera Fondo de Inversión Privado to option up to a 40% share in its interest in Anillo by Asset Chile spending up to approximately US$3.5 million in three phases with the intention of making a discovery and delineating a resource at Anillo.


Anillo is located within the north-south trending epithermal Au-Ag deposits of Paleocene age in the Central Depression of the northern of Chile.


The property is located in the Antofagasta Region, within the Central Depression of the north of Chile and at an average altitude of 1,900 meters above sea level. The El Peñon mine operated by Yamana Gold Inc. is located 15 km to the southwest. A paved road leading to Antofagasta to the northwest is located 20 km north, which connects Antofagsta to the Escondida mine to east. The 2004 El Peñon measured, indicated and inferred mineral resource was 8.4 Mt at 14 g/t Au and 234 g/t Ag (7), including the bonanza grade Quebrada Colorada vein, representing more than half of the gold resource reported for the belt. 




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Summary and Location

Multiple high grade zones in a wide low-grade envelope and favourable topography with pipeline of drill ready targets

Drilling to date favourable and encountered significant gold and zinc mineralisation

Best intercepts to date include 15 m of 40 g/t Au (DDH MAP-48) and 41 m of 14 g/t Au (DDH MAP-38).

Access by paved road to the town of Anzá and a 17 km gravel road operable year-round.

Historically secure location. A gypsum mine has been in operation since 1991.

Excellent infrastructure, with power grid, abundant water and mine facilities on site.

Elevation ranges from 700 m to 2,000 m above sea level.

Environmental permit in place to mine underground and open-pit.


For more information please click here



John Walmsley

Non Executive Director, Chairman

John joined the Company in July, 2013. He has 30 years of experience in international oil and gas industry management. He spent 11 years with Arthur Andersen, where he was a Corporate Tax Partner, specialising in international oil and gas taxation. He was Chairman of the UK Oil Industry Accounting Committee. He was an Executive Director of Enterprise Oil plc, Chief Executive of Hardy Oil and Gas plc. and he was appointed a Non-Executive director and chairman of the audit committee of Seeboard plc. at the time of privatisation. He is currently a Non-Executive Director and Chairman of the Audit committee of Pantheon Resources plc. and Executive Chairman of the Consilience Energy Advisory Group Ltd.


Ignacio Salazar

CEO & Director

Ignacio is the CEO of Orosur Mining since March 2013. He had joined the Company in September 2008 as Finance Director. He has a 25-years international experience, prior to Orosur, mostly working as international staff for the Royal Dutch Shell group, in different functions in Finance and New Business Development, working and living in several countries in Europe and South America. Among others, he was CFO of the multi-billion Shell oil and gas businesses in Denmark and Germany, in charge of the New Business Development in Argentina for oil and gas and in several roles in Head offices both in London and in the Hague (Holland). He holds a Master Degree in Business Administration and a Master Degree in Law, both from the University of Deusto in Spain. Ignacio is President of the Chamber of Mines of Uruguay since 2009.


Pablo Marcet

Director & Exploration & Development Director

Mr. Marcet has over 20 years of experience in mining, exploration and project development. He joined the Company in July 2014. He participated in the start-up of the giant Escondida copper mine in Chile and held various managerial positions for BHP Billiton in East Africa and South America. From 2003 to 2007 he was president of Northern Orion's Minera Agua Rica. Northern Orion was sold to Yamana Gold in 2007 for a fully diluted amount of $1.6 Billion. Pablo holds a Masters degree in economic geology from Harvard, and an MBA from the University of Phoenix.

Roger Davey

Non-Executive Director

Roger is a Mining Engineer with over 40 years of experience in the mining industry. He is currently a Non Executive Director of Condor Gold, EMED Mining and Alexander Mining. Previous positions held include Assistant Director and the Senior Mining Engineer at N M Rothschild (London) in the Mining and Metals project finance team; Director, Vice-President and General Manager of Minorco/AngloGold subsidiaries in Argentina; Operations Director of Greenwich Resources plc, London; Production Manager for Blue Circle Industries in Chile; and various production management roles in Gold Fields of South Africa. Roger is a graduate of the Camborne School of Mines with a Master of Science degree in Mineral Production Management from Imperial College. He is a Chartered Engineer, a European Engineer and a Member of the Institute of Materials, Minerals and Mining.


Horng Dih Lee

Non Executive Director

Mr. Lee joined the company in July 2014. He is currently the Chief Financial Officer and Corporate Secretary of Eastern Platinum Ltd. (TSX:ELR). Mr. Lee obtained his Chartered Accountant designation with Deloitte & Touche and holds an MBA from the University of British Columbia. He has more than 25 years of experience in finance, accounting, treasury and administration in public mining companies. Prior to joining Eastern Platinum, he held senior financial positions with Northern Orion Resources Inc. (formerly TSX listed), Ivanhoe Mines Ltd. (TSX:IVN) and Diamond Fields Resources Inc.




Jorge Aceituno Sandoval

General Manager, Operations

Jorge has over 30 years’ experience working as a geologist and senior manager for South American mining companies. He is a professional geologist and has an MBA from Universidad Católica del Norte. Jorge worked with Barrick from 2008 to December 2012, most recently as General Manager of Operations for Barrick’s Pascua-Lama project, and before at Barrick’s Zaldívar mine. Prior to that, Jorge was General Manager of Compañía Minera Maricunga, Superintendent of Mines at Compañía Minera Zaldívar (prior to Barrick’s acquisition), as a production geologist for Codelco at their Chuquicamata mine and an exploration geologist for Renison Goldfields in Australia


Ryan Cohen

Vice President, Planning & Corporate Development

Ryan has worked in the mining sector for over 10 years across a broad range of roles including investment banking, investor relations, corporate advisory, corporate development and operations. He currently serves as Vice President, Operations for Sennen Potash, a TSX-Venture listed potash exploration company and has previously held management roles with companies in the natural resource sector. Prior to that, Ryan was a Director, Equity & Debt Capital Markets at Canaccord Genuity. During his time with Canaccord he advised on approximately US$7.5 billion worth of transactions, including financings, M&A, corporate advisory and debt & commodity related finance.


Daniel Moretti

Chief Financial Officer & Corporate Secretary

Mr. Daniel Moretti has extensive experience in finance, accounting, strategic planning and tax planning, having spent over 30 years with Shell Oil fulfilling such roles in Latin America, the Middle East and the United Kingdom. His most recent appointment was Financial Controller, Latin America with Shell Oil. Mr. Moretti is a qualified public accountant from the University of Buenos Aires and has completed executive training at the Harvard Business School, London Business School and Wharton Business School.

Investor Shares % Holding
TD Waterhouse 
6,170,175 6.39%
Barclays, Plc. 4,799,695 4.97%
Sprott Asset Management LP 4,750,000 4.92%
Goldman Sachs & Co - Custodian 3,760,125 3.89%
Fidelity Management & Research Company 3,609,500 3.74%
GMP Securities L P 3,546,467 3.67%
W H Ireland Ltd. 3,114,150 3.22%
Hargreaves Lansdown Asset Management 3,069,692 3.18%



Ignacio Salazar,

Chief Executive Officer

Tel/Fax: +56 2 29246800


[email protected]


Cerro Colorado 5240

Torre del Parque I, Of. 602

Las Condes, Santiago Chile



Costa Rica 1667, Of. 105

Montevideo 11,500



Tel: + 598 2 601 6354

Fax: + 598 2 600 6232



Ryan Cohen

Vice President,

Planning and Corporate 



Tel: +1 604 655 7796


[email protected]

Financial PR

FTI Consulting

200 Aldersgate | Aldersgate Street


London EC1A 4HD



Edison Group

Tom Hayes

+44 (0) 20 3077 5700

[email protected]



Cantor Fitzgerald Europe

Asa Bridle

+44 (0) 20 7894 7536

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