OREMEX RESOURCES INC. (ORM.v) or (ORXRF)

In yesterday's comments:

http://www.silveraxis.com/

Oremex, the only other inductee so far in the select but speculative 10-bagger list, continues to flounder in severely undervalued territory, although the company just recently released an interesting press release: instead of letting 5 million warrants expire at $0.95 in November, the company has extended the expiration by 3 months. This is interesting only because the stock currently trades at $0.50 and would have to more than double in a hurry for the warrant extension to make sense. One has to wonder if this isn't a stealth signal by management to show its confidence in turning the ship around, although it would certainly be nice to see a more traditional way of expressing it (namely, insider buying of the stock on the open market).

I have looked for the Oremex write-up you posted a link to, but can't find it.

SilverSleuth, could you show me how to find it?

BTW I noticed Silveraxis.com links to my website...hadn't noticed before.

On the right top, below "Silver Alerts" is "Today in Silver". It is at the end of the comments for Nov. 2, 2007.

Thank you sir!

I apologize. It was a link buried with within the commentary. The reference to ORM is near the bottom of this analysis of silver juniors.

http://www.silveraxis.com/commentary/dh_valuestrategy_revisited.htm

Let me know if you have any problems.

I heard that the town hasn't the money to do paperwork in order for the mine to proceed on the surface. It was from Bull's pdf. Perhaps the company could hire the Elders as "consultants", and that would help with the paper work.

jeanvaljean wrote:

Would it be possible for Oremex to hire the Elders as "consultants" on local business customs? Perhaps that would speed up the paperwork.

From what I can decipher, the process is going well. I believe the molasses are at the federal level. I am not too concerned though, because Oremex would have nothing to gain by extending warrants for 3 months, unless progress can be announced. Obviously the warrant holders did not disagree too much with the 3 month time frame (We would have heard something) so I think something is in the works.

Also remember that Linda just hired a corporate communications officer (Karyn Bachert) which tells me they are expecting a major spike in communication.

Linda probably forsees this, and knows she would not be able to handle all the excitement should a resolution be announced. I know, I would have a hundred questions if things became "Full steam ahead".
_________________

This stock is being accumulated for a couple of weeks already.

Bull, Do you still own ORM.V? Their booth at the SF show was vacant...nobody home. Give them a kick and tell them to stand at attention and look interested if they've come all this way to talk to investors!

Unless they signed a big deal last night and had a hangover, they should have at least one person in the booth at all times!

Studbkr,

I still have a position, although I have reduced substantially. I will call Linda and ask what in the heck is going on. I would have expected Karyn Bachert to be there with bells on.

BTW thanks much for the update!

ORM - Linda was not at the booth at that time - Talked to another gentleman - claims that surface rights will be resolved this year.

Later on saw Linda in the booth - did not talk to her though

FYI: It was about 10:00 or 10:30AM on sunday...show opened at 8:00AM

Bull:

I read that you reduced your holdings substantially in ORM.
Is it no longer your #1 pick?

Thanks for your response!

I have very little stock in anything right now.

I have a heavy short position and am forced by my broker to hold a lot of cash.

Oremex is still my #1 pick, however I am building the largest position I have ever had in one stock as we speak...it is not Oremex but has a similar market cap. I would say they have as much silver as Oremex and only need to spend another 1.2 mil to start producing at 1000 tpd

I knew Pancho was a sweet talker, but this is a little much.

This latest news has me feeling a little uneasy.

Oremex Resources Agrees to Acquire Cuyoaco Property

VANCOUVER, Nov. 20 /CNW/ - Oremex Resources Inc. (TSX-V: ORM) (the
"Company") announces that it has executed an agreement to acquire the Cuyoaco
Gold and Base Metal Property in the State of Puebla, Mexico. The property has
the potential to host both a high grade gold system and a large copper-gold
porphyry deposit.
The agreement provides the Company, through its wholly owned subsidiary
Oremexico S.A. de C.V., with the exclusive option to purchase a 100 percent
interest in the property over a four year period. The total purchase price of
US$3 million may be made by a combination of cash and shares of the Company
scheduled over the four years. The Company will make an initial payment of
US$150,000 and issue 100,000 shares. On December 31 of each subsequent year,
the Company will, at its option, make cash payments and share issuances as
follows: 2008 - US$100,000 and 200,000 shares; 2009 - US$150,000 and 200,000
shares; 2010 - US$250,000 and 200,000 shares and 2011 - US$1.5 million and 1
million shares. The Company has also agreed to complete the necessary work and
make the obligatory tax payments to ensure that the claims are in good
standing. The mineral concession owner is Francisco Crespo Hernandez, a
Director of the Company. The transaction is subject to the acceptance of TSX
Venture Exchange.
The Cuyoaco Property is located in an old mining camp, formerly known as
the Talpizaco-Tateno Mining District. On the property, sedimentary rocks (with
limestone predominating) are intruded by a diorite stock and numerous related
dykes. Two claims, covering 643 hectares, encompass the former Santa Elena,
Santo Nino, Magistral and California-Durazno Mines. At the Santa Elena and
Santo Nino zones, coarse metallic gold and electrum in calcite stringers is
associated with narrow diorite dikes and adjacent skarns. Gold values from
underground workings range up to 3 grams per tonne. At the Magistral and
California-Durazno workings, copper-gold-lead-zinc anomalies suggest the
presence of a large porphyry copper-gold system.
An independent NI 43-101 Technical Report, prepared by independent
consultant Norm Tribe, P. Eng., recommends acquisition of the project and a
program of trenching and 5,500 metres of diamond drilling as an initial phase
of work to assess the project

[quote="bull"]I knew Pancho was a sweet talker, but this is a little much.

This latest news has me feeling a little uneasy.

why uneasy Bull ??

I don`t know why they are buying up so many properties. ORM only has one drill. Linda should think twice about spending money `willie nillie`.

Maybe they are near a surface rights resolution and they know they will be able to raise money without trouble.

I guess what bothers me is why another property now, they have plenty to work on as it is-and why is Poncho selling his claims to ORM?...doesn`t look good.

You and Linda are good friends - aren't you ??

bull wrote:

I have very little stock in anything right now.

Bull,
Do you still believe ORM has the goods and will resolve the land rights issue this year (as in before 2008 starts)? Do you believe the price will rocket when they do? Aren't you risking missing the announcement? If you're not in when it comes out, your out! This seems like threading the needle to me. Do you still like ORM?
Cheers

SilverEye,

Yes I still believe all the things you ask about. My only concern is that if they believe also, why are they bothering with accumulating other properties. It would be like PEZ.v going out looking for more properies right now. The only reason I can think of to do so is if they do not plan to go into production, but rather just selling to fund continuing exploration. I don't want to own ORM if they plan on selling the Tejamen.

Anyway don't read too much into me not having a large position in them right now. I have a massive short trade on the Dow and Nasdaq which is working very well for me. I may have to cover at any time now and will move bake into a lot of the previous positions I had.

Let's see what they say

My biggest concern is that they don't intend on developing the Tejamen. From the display of the equipment they intend use (at local fair) at the Tejamen...maybe I'm just paranoid.

I haven't heard anything yet to change my position. I'm holding all I have, maybe even adding some, now that it's on sale again.

Cheers

good afternoon and sorry i missed you in San Francisco. Thank you for your ongoing interest in Oremex. Our new team in Mexico continues to assure us that the they expect to have an agreement with the ejido before Christmas. To your question regarding the acquisition of additional projects for the Company, it is important to ensure that a company has a strong portfolio of projects within a pipeline that can assist with long term growth. We will continue to develop Tejamen and have an agressive plan for development through feasibility to production. We have not indicated at any point that we intend to sell Tejamen to fund other exploration. We also have a good track record of selling "pipeline projects" to peer companies for signficant gains for the Company and the benefit of its shareholders. I look forward to keeping in touch. Please do not hesitate to contact me by telephone or email. best regards

Linda Thorstad, MSc. PGeo
Chief Executive Officer

Thanks Silverman posting Lindas email response. I did not sell any shares yet.

BTW, I started bargain hunting since last Friday. I bought a few shares of GAM.TO (followed Bowzers great tip) and bought more PCM shares as it looks cheap!!