Orosur Mining (OMI)

Business description

Orosur Mining owns (100%) and operates its San Gregorio gold mine in Uruguay. It explores for gold close to San Gregorio and in Chile at the Anillo gold property. It owns 100% of the highly prospective, high-grade Anzá gold property in Colombia.

Stock data

Market cap.£17.8m
Last close17.63p
High / Low (52 weeks)18.8p / 11.8p
Stock market listingCN, LN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamResources - Mining
SectorMining

Price performance

%1m3m12m
Actual15.627.0(2.1)
Relative *17.028.8(8.1)

* % Relative to local index

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Company news

Orosur Mining making swift progress at San Gregorio West, Uruguay

Thu, 21 Sep 2017 06:56:15 GMT

Orosur Mining has sizeable gold opportunity in Colombia according to Cantor

Tue, 15 Aug 2017 09:13:39 GMT

Orosur Mining hits gold target for fourth year running as San Gregorio West ...

Tue, 20 Jun 2017 07:44:21 GMT

Orosur Mining makes light work of underground switch

Mon, 16 Jan 2017 16:10:21 GMT

Broker slaps big price upgrade on Orosur Mining

Tue, 24 Jan 2017 11:33:37 GMT

Y/E May Revenue (US$m) EBITDA (US$m) PBT (US$m) EPS (fd) (c) P/E (x) P/CF (x)
2016A 42.9 9.1 3.2 (1.2) N/A 3.4
2017A 44.2 9.4 2.1 2.6 8.8 1.8
2018E N/A N/A N/A N/A N/A N/A
2019E N/A N/A N/A N/A N/A N/A

Last updated on 15/09/2017

Investment summary

OMI’s FY17 accounts were released on 29 August. Announcing in July that it had achieved its production within guidance (ie 35koz to 40koz), the company has confirmed it produced 35,371oz at a cash operating cost (also within guidance) of US$829/oz. Operational performance and the gold price environment in FY17 helped increase cash flow from operations 28% y-o-y, from US$9.7m to US$7.6m. OMI finished FY17 with net cash of US$3.0m. Of particular note, as well as these solid production and financial results, is that the company has funded via internal cash flows (and not taking on any debt) another UG project called SG UG West, which will provide base production for the company’s FY18 production target of 30koz to 35koz at the same operating cash cost level to FY17.

Last updated on 06/09/2017

Industry outlook

We expect that SG and its associated exploration prospects will continue to support continued resource growth at this mine, as OMI pursues its exciting exploration-stage Anza project in Colombia. This project’s exploration has been funded by an oversubscribed, premium-to-share price US$3.2m fund-raising. This cash will complete an initial 15,000m drill programme, with first results due in the coming months. We see Colombia as a major positive catalyst to OMI’s shares.

Last updated on 06/09/2017

Key management

Ignacio Salazar , CEO
Ryan Cohen , IR

Company address

Cerro Colorado 5240
Torre del Parque I, Of. 602
Las Condes
Santiago
7560995
Chile
+ 598 2 601 6354
View website