Orosur Mining Inc. Announces Results of the Preliminary Economic Assessment on Pantanillo Norte project in Chile
SANTIAGO, Chile January 12, 2012. Orosur Mining Inc. (�OMI� or �the Company�) (TSX VENTURE: OMI) (LSE: OMI), a South American-focused gold producer and explorer announces the results of the Preliminary Economic Assessment ('PEA') on its wholly owned Pantanillo Norte project in Chile. The study was completed by AMEC E&C Services Inc. ('AMEC') and compliant with NI 43-101 regulations.
Highlights of the PEASummary of Financial Parameters
The financial results indicated a five-year mine life, with Net Present Value of US$32 million (before tax) and IRR of 17per cent. The gold price assumption for the PEA was constant at US$ 1,200/oz. No other metals were considered payable.
David Fowler, Chief Executive Officer commented:
�We are pleased to announce a preliminary economic assessment for the Pantanillo project in Chile which has been independently prepared by AMEC. This PEA is based on the existing resource at Pantanillo Norte and demonstrates Pantanillo development potential. We believe that further exploration has the potential to significantly enhance the project and a number of initiatives will be pursued through development in an effort to reduce capital expenditure further.�
To read the complete news release, please see the following link:http://orosur.ca/_resources/news/nr_2012_01_12b.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.