Fabulous increase in value......EK has been tipping this one....for some time now.

StockMarketWire.com
Dual-listed Orosur Mining cut its annual output guidance after ore grades fell at its Uruguayan gold project.

The company reduced its production guidance to 27,000-to-30,000 ounces of gold, down from 30,000 ounces.

It also increased operating cash cost guidance to $900-to-$1,000 per ounce, from $800-to-$900.

Production in the third quarter was 6,859 ounces, down 12% on-year.

StockMarketWire.com
Orosur Mining said it had terminated an option agreement with Chile's national mining company to invest further in the Anillo gold exploration project.

Although there were no penalties involved with the termination, Orosur said it would write down the $5.5m recognized in its statements for the Anillo project in its next financial results.

The project was originally optioned from Nacional del Cobre de Chile in 2010.

A decision not to enter second phase drilling followed a lack of positive exploration results during the fist phase, the company said.

Orosur Mining Inc. Gold Mineralisation Confirmed at Charrascala Target, Colombia
Orosur Mining Inc. (Orosur or the Company) (TSX/AIM: OMI), a South American-focused gold producer, developer and explorer is pleased to announce the final results from the recently completed gold exploration campaign at its high grade Anz project in Colombia. Having confirmed consistent gold mineralisation in the APTA portion of the Anz project in the first 18 holes of the exploration campaign, the final 5 holes of the drill programme were focussed on maiden scout drilling the untested Charrascala target. Drilling detected the presence of strong gold anomalies, with 4 of the 5 holes drilled intersecting gold mineralisation and a priority follow up zone has been identified.

HIGHLIGHTS
Orosur successfully drilled 5 scout diamond drill holes totalling 3,045m at Charrascala, one of the four untested targets of Anz;
The presence of gold in the system has been confirmed within an attractive geological setting for the mineralization to occur;
The presence of strong gold anomalies has been detected at Charrascala along an 800m north-south corridor, including intersects of 3.43 g/t Au and 30.60 g/t Ag over 1.5m and 2.62 g/t Au and 14.30 g/t Ag over 0.90m;
Arsenic has been validated as a good gold pathfinder at Charrascala;
Current drilling has identified an important exploration target in the south of Charrascala; which will be the priority for follow up drilling;
Next exploration stages will be focused on continuing the broader exploration of the Anz project and more detailed follow up and definition work at APTA.

Ignacio Salazar, CEO of Orosur, said:
"We are very encouraged with the recently completed exploration campaign at APTA and Charrascala in Colombia. Drill results at APTA have extended the mineralized area at depth and along strike, while still remaining open. APTA represents only 10% of the land base of the Anz project, which covers over 200km. Additionally, in the last phase of this exploration campaign, the Company successfully tested the Charrascala target, discovering the presence of gold anomalies along an 800m north-south corridor, including an intersect of 3.43 g/t Au and 30.60 g/t Ag over 1.5m, as well as identifying a specific target for future drilling. The Companys future in Colombia is looking to be off to a promising start."

StockMarketWire.com
Orosur Mining said it had completed a private placement to raise $2m with Newmont Mining Corporation and signed an exploration agreement with the US gold giant's Colombian subsidiary for the Anza exploration property.

The Anza project was located in Antioquia and comprised total land holdings of 207.5 square kilometers.

The exploration agreement included a three-phase earn-in structure allowing Newmont to earn up to a 75% ownership interest in the project by spending a minimum of $30.0m in qualifying expenditures over twelve years.

Newmont would complete a feasibility study and make cash payments to Orosur equaling a total of $4.0 million over the mine's first and second phases.

In the first phase, Newmont could earn a 51% ownership interest by spending $10.0m in expenditures over four years and making cash payments to Orosur of $2.0m during the first two years.

Upon Newmont's completion of that phase, it may elect, in its sole discretion, to exercise its option to form a joint venture with Orosur.

In the second phase, Newmont could elect to earn an additional 14% ownership interest by sole-funding $20.0m in expenditures within four years, completing the pre-feasibility study and making cash payments to Orosur of US$2.0m.

In the third phase, Newmont could elect to earn an additional 10% ownership interest in the project by completing a feasibility study within four years.

In the share placement, Newmont purchased around 29.2m shares at a price of C$0.091 (GBP 0.054) per share, for aggregate proceeds of $2.0m.

omi has a future now, 18pence a small gain for me, time 2020 year maybe a sell
or a bid for omi. BB

have sold, small amount of gold coming out of ground, no revenue, result of exploration in columbia, 2020 more money to finance this. no take over till
2020 if any. share is a dog. at this stage. BB