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

Following its entering a non-binding of Letter-of-Intent (‘LOI’) on 7 July 2021, Orosur has today announced its signing of a Joint Venture (‘JV’) agreement with Meridian Mining UK Societas (TSX-V: MNO) (Frankfurt: 2MM) (Tradegate: 2MM) (OTCQB: MRRDF) (‘Meridian’) in relation to its Ariquemes Tin Exploration Project (‘the Project’) in Brazil.

The terms are consistent with those indicated in the LOI, whereby the Group can earn an equity interest of 75% in the Project by spending US$3m over a four-year period, in two phases. Given that the soon to be completed hand-over of Orosur’s Colombian Anzá Project’s operatorship will free up operational capacity with support from a balance sheet that presently holds free cash of c.US$5m, this new high-potential, early-stage JV provides management with the opportunity to diversify shareholders’ interests by geography and geologically with a new and highly critical commodity.

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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 © 2022 Turner Pope Investments (TPI) Limited, all rights reserved.


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