Orosur Mining Inc. Announces Results for the Full year Ended May 31, 2011
SANTIAGO, Chile, August 18, 2011. Orosur Mining Inc (�OMI� or �the Company�) (TSX-V: OMI) (AIM: OMI), a South American focused gold producer and explorer, today announces results for the fiscal year ended May 31, 2011.
Operating and Financial Summary
1Results are based on Canadian GAAP and expressed in US dollars2Before non-cash working capital movements3Operating cash cost is Total cost discounting royalties and capital tax on production assets.
David Fowler, Chief Executive Officer commented:
�Orosur has delivered excellent financial results for the 2011 financial year. We recorded a profit after tax of US$ 15.9 million and generated US$ 29.7 million cash flow from operations realized at a gold price of US$ 1,347 per ounce. This performance demonstrates the potential of the company to generate strong cash and profit relative to its enterprise value at current gold prices and puts us in a strong position to support and develop our existing assets as well as pursue further growth opportunities following the acquisition of the Talca project in June 2011. We remain optimistic about the future and look forward to updating shareholders on our progress through the forthcoming year.�
To read the complete news release, please see our web site at http://www.orosur.ca/_resources/news/NR_110818.pdf
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Orosur is a gold producing company based in Canada.
Orosur holds various exploration projects in Chile and in Uruguay.
Its main asset in production is SAN GREGORIO MINE in Uruguay, its main asset in development is ARENAL DEEPS in Uruguay and its main exploration properties are INCAHUASI, ANILLO and PANTANILLO in Chile, NUEVA HELVECIA, MAL ABRIGO AND CERROS NEGROS, LASCANO, ISLA PATRULLA, RIVERA, PASO DE LUGO, CHAMIZO, BRAGADO, MARIA ALBINA, RETAMOSA, CASUPA-CRUCERA, PRESIDENTE TERRA, VOLCADERO, TEXAS - ISLA PATRULLA DISTRICT, ISLA CRISTALINA BELT, CASTRILLÓN, OLD TEXAS, ARROYO POLANCO and CASUPA MADRE in Uruguay and ESTE DE LA ALUMBRERA in Argentina.
Its stock quote reached its highest recent level on February 03, 2006 at CA$ 5.96, and its lowest recent point on September 11, 2023 at CA$ 0.04.
Orosur has 98 865 201 shares outstanding.