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

What's going on with this stock as of late?

Down another 6% today!

bull,
If ORM announces a resolution to the land rights as they say by Christmas, what do you believe the stock will be worth then? Double? Triple? And is that the stable value or the spike up value and settle back lower(where?).

Cheers

SilverEye wrote:

bull,
If ORM announces a resolution to the land rights as they say by Christmas, what do you believe the stock will be worth then? Double? Triple? And is that the stable value or the spike up value and settle back lower(where?).

Cheers

I think ORM would get between a double or triple if they made it happen before Christmas...maybe settle out at 70-80c and move up from there.

Linda emailed to me

" Our new team in Mexico continues to assure us that the they expect to have an agreement with the ejido before Christmas "

Hopefully a new new team will not be needed !

Clock is ticking on the Ejido announcement...Santa is packing his sleigh. Stock was up a few pennies on thin trading today. Any rumo(u)rs out there?

Wow.... Did something happen behind the scenes yesterday
that made the stock drop??

Hoping for a Merry Cristmas!

Emailed Linda 2 days ago.........

Good morning Linda.

Please let me know if there is any update to your statement below

"Our new team in Mexico continues to assure us that the they expect to have an agreement with the ejido before Christmas."

Thank you

Emailed also to Chuck Jenkins, the CFO

No response yet.

Thanks Silverman for your persistence!

I"m starting to get a bad feeling about this stock.
Somebody or somebodies are selling.

Bull, do you have any contact with Linda anymore??
Do you know if there has been any insider selling??

Still hoping for a Merry Christmas

Quote :

Bull, do you have any contact with Linda anymore??
Do you know if there has been any insider selling??

Haven't talked to Linda in a while.

No insider buying/selling.

http://canadianinsider.com/coReport/allTransactions.php?ticker=orm

I still own a small amount.

She was very sick lately...her first day in the office today..
She is still very optimistic..may not happen this year..but will happen

I say keep your shares

I dumped my remaining 10K shares today and put in a stink bid for more TRDM.PK. Spin the wheel...(disclaimer: an extremely small portion of my portfolio...)

I have been communicating with Linda about the problems with the numbers in the Oct. 3, 2006 Snowden report issued for Oremex. Those who still own the stock may wish to contact the company and voice concern for this issue. I just sent this email:

Dear Linda,

Thank you for your prompt reply.

I completely understand the 70% recovery bringing extractable resource down to 36.5 million ounces of silver equivalent. What I (and many others) are trying to resolve is why there is an additional 25% reduction bringing "payable" reserves down to only approx. 25.8 million ounces of silver equivalent. I have shown the page numbers and the math to prove this number correct. Can you point to any specific error? If not, please confirm that the following conclusions flow logically from the Snowden report:

(1) The "payable" reserves (the number of silver equivalent ounces in the bullion bars available for sale, whether or not smelting is done in-house) is estimated at approximately 25.8 million silver equivalent ounces.

(2) The revenue figures in the cash flow report are computed based on the sale of approximately 25.8 million silver equivalent ounces.

(3) The same cash flow report also lists an expense totaling $26,775,000 for "milling waste," which represents waste of approximately 2.7 million silver equivalent ounces.

If you can confirm those three statements, then here is the question:

Since "milling waste" is listed as an expense, it suggests that the "additional 25% reduction" in reserves shown above is not due to milling waste. If the "additional 25% reduction" is not due to milling waste and does not represent non-extractible resource, then what does it represent?

I got an explanation from Linda today about the “unaccountable” 10 million silver equivalent ounces deducted in the Snowden study.

She agreed that all my conclusions from the Snowden study mentioned in my last post were true, and explained three different types of resource losses:

(1) In designing the mining pit, some areas of the geologic resource are outside of the pit and are not mined. For the pit assumed in the Snowden study, approximately 10 million silver equivalent ounces are located outside (mostly below) the pit, and are left behind. These are the “unaccountable” ounces that Shelby could not find.

(2) When the study assumes “70% recovery,” it is referring to how much is lost during the heap leach process.

(3) When the study refers to “milling waste” this means waste during the milling process.

So after deducting (1) and (2) above, there are approximately 25.8 million silver equivalent ounces, from which “milling waste” would then be subtracted to arrive at how many silver equivalent ounces are in the bullion bars produced.

Linda also had the following to say:

(1) An agreement for the surface rights is imminent.

(2) She predicts mine construction in 2009 and production in 2010.

(3) There is about $1.5 million cash in the bank, and she expects an equity raise in the spring (after the surface rights are issued). She favors a series of small equity raises to keep dilution low. There has been good interest in the further out production financing-- they are considering 75% debt and 25% equity to keep dilution low.

(4) Regarding the pit assumptions made by Snowden in 2006 that excluded 10 million ounces of resource-- more of the high grade deposit below the pit might now be included in the pit based on additional information since that time. Also, more exploration is planned.

Bull wrote: “Did Linda mention how many concentric pits they would use?...Anything about optimum bench models?”

This wasn’t mentioned, and I have been trying to learn more about these mining terms.

I wonder if yet another 30% will need to be loped off the feasible resource after the surface rights agreement is reached. They may decide not to pursue open pit rights at Cerro Prieto for now, so as not to hold up an agreement on Los Mantos. Linda hasn’t said that, but she does keep stressing that they won’t have to move the village (for the first four years, anyway.)

has the stock been halted? no trades in february according to bigcharts.com

mshen11 wrote:

has the stock been halted? no trades in february according to bigcharts.com

Is that better?!

meaning you just bid up the price on my request?

mshen11 wrote:

meaning you just bid up the price on my request?

That, or maybe I just let a smidgin go...Then again, maybe it was someone else

In case anyone still owns this stock.

I e-mailed them the other day. they responded and said that
things are still progressing on the land rights issue.
News should be coming soon according to them.

It's the same line we've been hearing for a while.
You would think with the nice increase in silver bullion, this
stock would at least be at a higher price??

Cheers!

i no longer believe their 'coming soon'... how many times have they cried wolf on that? the last one around xmas was an insult... who would be working around that time?

md1,

Thanks for the new update!

I was just thinking of purchasing some ORM last Friday. It's at a great price.

Quote :

News should be coming soon according to them.

Blah, blah, blah! It sounds like the same old lines from last year.

This stock could really pop though. (God knows when.) With some good news, and a 10,000 volt cattle prod.

Hi my first post to your excellent site bull. Thanks for hosting it. A day or two ago I had an email from Linda Thorstad saying that they are expecting progress in ejido negotiations in "the near term" I know I know how many times have we heard that one before but and maybe its coincidence but the volume of shares is certainly up over the last couple of days as well. Food for thought at least.

mmmmm.........maybe Grassburner finally bought in
today and caused this spike .

Nice to see on a down day.

MD1,

I only wished that it was me rising the stock price! Especially on a stinky stock day like today.

But when I made that long haul into the big city of Spokane to my Scottrade branch. They said that they would only from now on accept cash, cashiers check, or money order for deposit in my trading account. If I wanted to buy any more stocks.

And all I had was a truckload of Certified Idaho Spuds. They said that they didnt want to exchange them for credit to my account???

Their loss in my opinion. My taters are worth more ounce for ounce. Than gold is at it's current spot price!!!

So no ORM for me yet. Till these spudlicious taters sell!