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

Orosur has announced its signing of an Exploration & Joint Venture agreement (‘the Agreement’) with shareholders of a private Argentinean company, Deseado Dorado S.A.S., (‘Deseado’) in relation to its El Pantano Gold Project (‘the Project’) in the Province of Santa Cruz, southern Argentina.

The Agreement covers nine licences over a combined in the prolific Deseado Massif region, c.45km from Anglo Gold’s Cerro Vanguardia mining camp. With no upfront payments, a low commitment for the first phase, and a low-cost path to 100% ownership, El Pantano provides Orosur with a substantial foothold in one of the world’s major gold provinces.

Given that the soon to be completed hand-over of Orosur’s Colombian Anzá Project’s operatorship will free up technical and logistical capacity along with support from a balance sheet that presently holds free cash of c.US$5m, near-term exploration of this new high-potential, early-stage JV is to be internally resourced. Along with last month’s signing of a similarly structured joint venture with Meridian Mining UK Societas (TSX-V: MNO) in relation to its Ariquemes Tin Exploration Project in Brazil, today’s news provides further evidence of management’s efforts to diversify shareholders’ South American interests by both geography and geology.

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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.

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