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

I agree Randy!

Just so everyone knows. Please feel free to discuss the report I put out. Ask questions about it.

I have a lot going on right now, I feel bad about not spending more time here, I will start to do so. Randy you are very right about posting in JH forum. Old habit I quess, plus I have to keep an eye on Shelby.

You have to admit, the Oremex team probably are pretty good negotiators, given they picked up this property for less than $24,000 CDN.

I mean they would only have to mine a few metres of this vein to get their intial investment back. Makes you wonder how they were able to make the deal without having to conceed to a NSR of 3% or anything else.

Quote :

Vancouver, B.C. -- May 11, 2007: Oremex Resources Inc. (TSX-V: ORM) (the “Company”) today announced that it has acquired the Santa Catarina massive sulphide gold property near the village of Santa Catarina in Sinaloa State, Mexico. The massive sulphide deposit (primarily pyrrhotite with minor chalcopyrite), carrying gold values that range from 0.24 to 0.55 ounces per tonne gold across a width of 20 metres, is an attractive small mine situation with the potential for near term production. The property was acquired outright for a purchase price of MP $200,000 (CDN $21,000) and back taxes of MP $25,000 (CDN $2,625). The Company plans a program of line cutting, mapping, soil sampling and geophysics followed by drilling to test the strike length and depth of the massive sulphide mineralization.

To Admin,

This is part of a press release on page 1 of this forum. l

Assay results for selected holes are reported in this release. All holes are vertical and extend to a depth of approximately 150 meters, [the limit of the reverse circulation drill], with some holes still in mineralization.

What does "with some holes still in mineralization" mean?

Thank you

mmock wrote:

To Admin,

This is part of a press release on page 1 of this forum. l

Assay results for selected holes are reported in this release. All holes are vertical and extend to a depth of approximately 150 meters, [the limit of the reverse circulation drill], with some holes still in mineralization.

What does "with some holes still in mineralization" mean?

Thank you

It means that, the RC drill could only go down 150m, however the rock containing silver and gold goes even deeper. They will have to use a diamond drill to find out just how deep. This will take place when they begin the next round of drilling.

http://investdb.theglobeandmail.com/invest/investSQL/gx.show_chart?pl_comp_id=221275&pl_errmsg=&iaction=Chart&pl_primary_listing=ORM-X&iaction=Chart&pl_additional_listing=0&pl_period=12D&pl_chart_type=+&pl_sh_movement=50&pl_long_movement=200

Don't like this chart much!

Maybe it's just a rounding bottom?!

Bull no Western Goldfields board? :-))

Tom/Slan/Golden7

Start one my friend!

golden7 wrote:

Tom/Slan/Golden7

Glad to know you're here Slan!

I see on the "other Forum" that you also like USA.V. I would be interested in a thread on that as well. I have USA.V as well as ASLM.PK that is leased to USA.V. The Silver Valley stocks should go into "hyperdrive" over the next few years.

I haven't heard of any other investment writers talking about ORM. Is it that much under the radar??
With the huge leverage to the price of silver and the wholly owned properties, this stock should be trading upwards.
Anyone have any thoughts

I think it will languish until they have a positive (hopefully) press release about resolving the surface rights issues. Until then, a runup in silver prices will probably have only modest impact on ORM's share price. Once they do resolve the surface rights, it will probably pop 50-100% almost overnight.

New press release out today:

http://biz.yahoo.com/cnw/070928/oremex_acq_minera.html?.v=1

Oremex Resources Completes Acquisition of Minera Montana
Friday September 28, 6:45 pm ET


VANCOUVER, Sept. 28 /CNW/ - Oremex Resources Inc. (TSX-V: ORM - News; "Oremex" or the "Company") announces that it has acquired Minera Montana, S. de R.L. de C.V. ("Montana"). To date, the Company has held its mineral properties in Mexico under an option agreement with Montana while conducting exploration programs on its projects in Mexico. The Company has maintained the mineral properties in good standing with the Mexican government. Montana is a company owned by a Director and former officer of the Company.
ADVERTISEMENT


Under the original option agreement dated February 28, 2003, and amended in June 2003, the Company paid a sum of $3,500 and reimbursed Montana costs of $236,954. The agreement gave the Company the right to acquire the mineral concessions of Montana upon payment of total amounts due to the underlying mineral concession holder and payment of property taxes to maintain the claims in good standing. Having fulfilled its obligations and completed a review of acquisition options, the Company concluded that acquisition of the shares of Montana would be more beneficial to the Company rather than acquisition of direct title to the mineral concessions. No additional consideration is payable.

The acquisition of Montana results in the portfolio of mineral properties, including the Tejamen Silver Property ("Tejamen"), the San Lucas Silver-Lead-Zinc Property and several other mineral concessions, being held by Montana as a wholly-owned subsidiary of the Company.

The Tejamen Silver Property has an inferred mineral resource of 50.8 million ounces of silver in a total of 22.6 million tonnes grading a silver-equivalent of 69.8 grams per tonne. (Wardrop Engineering Report NI 43-101 compliant, April 2006). According to an independent Preliminary Assessment Study prepared by Snowden Mining Industry Consultants (NI 43-101 compliant, as reported in the October 3, 2006 news release). Tejamen, an open-pit, heap-leach project, has an estimated net present value of US$97.4 million at US$12 per ounce silver and US$155 million at US$15 per ounce silver (at a 7% discount). The mineral resource is open at depth and along trend.

The Company's discussions with the Ejido (local village and surrounding lands) with respect to surface access rights at Tejamen are advancing and on-site management are optimistic that an agreement in principle to either purchase or lease the surface rights can be realized before year end. Linda Thorstad, P. Geo., is the Qualified Person who has reviewed the contents of this news release.

md1 wrote:

I haven't heard of any other investment writers talking about ORM. Is it that much under the radar??
With the huge leverage to the price of silver and the wholly owned properties, this stock should be trading upwards.
Anyone have any thoughts

md1, I agree with Randy that it will gain some attention in a quick hurry when the surface rights are resolved. I also am fully confident that they will be. I quess that is obvious from my report.

PEZ was not on the radar screen when I first mentioned the company. Now it is being followed by numerous writers and commentators. I discussed Oremex with some very wealthy British investors while on the Dia Bras visit. I know they are interested because all three bought the report for $100 each. They already gave me the cash, so I quess I better send the report immediately. I can't say for sure, but I think they will be buying, at least a few hundred thousand shares. I truly believe that ORM will move substantially when the surface rights are dealt with. Like Jesse Livermoore said "I have made the most money, not by trading, but by waiting" or something to that effect. Good grief! Waiting can be exhausting.

Thanks Bull and Randy for your thoughts.
On a side note,
I haven't sold my PEZ yet. Maybe I'll sell 1/2 on the next spike up and buy more ORM

Looks like some selling pressure today for no reason
Might be a good time to load up some more at this level.
There should be a kick up tomorrow.

Hope everyone involved makes a fortune on this

Recently Karyn Bachert was appointed director of corporate communications. She has requested all the footage from my visit to see the Tejamen property. From my chat with Karyn, I get the impression she is very enthusiastic. Having someone dedicated to telling the companys story should be beneficial. I continue to be blown away by the low share price, not only Oremex's, but also PCM's

I am happy to get a chance to buy more Oremex at a cheaper share price. Glad to see Jason Hommel at least has a small position now. I just couldn't see how he could pass on Oremex and buyup some of the other stocks he has.....

I think Jason bought ORM because of the ranking in mininpedia.com. He referenced this page: http://miningpedia.com/?s=orm.v in the item list.

Ex. Recently, he bought Scandinavian Minerals (0.5-1% of his portfolio), CML.V (1-2% of his portfolio) and BRD.V etc (< 0.5%) etc etc....

if JH doesnt buy the top 10 of MP, he would be hypocritical in pushing it as a tool imho - thats why such actions are of no surprise

Bull:

Will Oremex have to build a mill on site or will they haul there ore to other mill close by.

mmock,

Oremex will use heap leaching as opposed to a mill. I think the best way to understand how their silver recovery will take place is to read the technical report.

http://www.oremex.com/downloads/Technical%20Reports/Snowden%20Prelim%20Assessment%20Oct%202006.pdf

You can get to the heart of the matter, starting at page 30.

ORM drill results today

http://biz.yahoo.com/cnw/071016/oremex_san_lucas_prgm.html?.v=1

i should be disappointed right? the numbers dont look very high.

is there a primer on how to read drill results?

I never invested in Oremex for the San Lucas property, but you are right the drill results are not great. These grades are not really high enough for underground mining.

Surface rights resolution is where it's at. Jason Hommel mention would not hurt either.

Any institutions ownership for Oremex shares ??

No, I don't believe so. I know a Swiss fund is looking for 2 million shares, but there are only two current shareholders that could supply thta many. Director Dale Scholtz 13.9% and an American investor with 10 million shares.

If an institution where to come on board, look out.