Orosur astounds

(OMI in London and Toronto) today announces the most astonishing drill results that I have ever seen.

To put matters in perspective a gram of gold per tonne is sufficiently concentrated to merit being mined. There are 28 grams per ounce and, currently, gold is $3,645 per ounce.

However, as OMI continues to drill out its Anza prospect in Colombia it has encountered 1.9 metres yielding 303 grams per tonne. Put another way that is 10.8 ounces of gold worth currently $39,444. Of course, this is a very exceptional result and is no proof that yields of this order extend right through the ore body. On the other hand it is clear that in all probability Anza is a bonanza mine. At 24p OMI is capitalised at a little over £50m. Surely, one of the majors will now be drawn to bid. I suspect - and this is a guess - 50p per share right now is a fair valuation.