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TPI provides its latest research note on Orosur Mining Inc. (OMI.L).

Further to the completion of an oversubscribed c.£4.0m (gross) placing on 30 November 2020, Orosur has today announced a new appointment to the Board, while also providing a drilling update at its Anzá project (‘the Project’).

Given the increasing number of corporate activities being undertaken, the Company’s Non-Executive Chairman, Mr Louis Castro, will now move up to the role of Executive Chairman.

In tandem with this, Mr. Nicholas von Schirnding, an individual with over 25 years’ experience in mining and natural resources, is joining as an Independent Non-Executive Director under which he will discharge, amongst other things, a number of Mr Castro’s duties and responsibilities. In updating investors also with respect to the Project’s drilling progress, the Board noted that although some drill samples were delivered to ALS Global during December, the minerals testing laboratory responsible for its assay analysis is presently experiencing COVID-19 related staff shortages which, in turn are hindering its normally rapid turnaround times.

Accordingly, results from the first hole are now expected to be available by the end of this month, rather than imminently, but will be communicated as soon as they become available.

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We would draw your attention to the various disclaimers in the document both at the beginning and at the end of the note. Retail clients (as defined by the rules of the FCA) must not rely on the research document. In particular you should note that the research document is a non-independent marketing communication. The analyst who has prepared the research is aware that TPI provides research to Orosur Mining Inc.. Accordingly the research has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is not subject to any prohibitions on dealing ahead of its dissemination.

The information in the document is published solely for information purposes and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. The material contained in the document is general information intended for recipients who understand the risks associated with equity investment in smaller companies. It does not constitute a personal recommendation as defined by the FCA or take into account the particular investment objectives, financial situation or needs of individual investors nor provide any indication as to whether an investment, a course of action or the associated risks are suitable for the recipient.

Copyright © 2021 Turner Pope Investments (TPI) Limited, all rights reserved.


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