Orosur Mining: Turner Pope

Orosur has raised £0.835m (gross) new funding through an equity placing (the ‘Placing’) priced at 2.78p/share (representing a c.15% discount to the mid-market close on 27 September 2024); each two Placing shares has one unlisted warrant attached, which is exercisable for 2 years from Admission at c.US$0.0494 (approximately 3.697p**) into one new common share. No General Meeting (‘GM’) is required for this modest issue which, along with cash-in-hand of c.US$0.5m will be directed primarily toward drilling, mapping and licencing costs at its advanced Anzá Gold Project (the ‘Anzá Project’). Presently being returned to 100% ownership with walk up drill targets into known high grade mineralisation at the Pepas prospect, the Group is also examining potential to move the APTA prospect to NI43-101 Resource status in the near term. Reassuming complete control of the Anzá Project, which now has several prospects at advanced stages, will provide the Board with a variety of options, prospectively including the introduction of a new JV partner(s). With field work also being continued on its earlier-stage El Pantano Project in Argentina, Orosur now finds itself ideally positioned with two major, wholly-owned gold exploration projects in key endowed Latin American regions at a time when prices for the precious metal continue to touch all-time highs. Subject to approval of the TSX-V, Admission of the new shares is expected on or around 4 October 2024.