MONTEVIDEO, Uruguay--(BUSINESS WIRE)--
Orosur Mining Inc. (the "Company") (TSX: OMI) (LSE: OMI) a South American-focused gold producer and explorer, informs about its short-term communications plans.
On August 15, 2012 the Company announced the results for the year ended May 31, 2012 which included the following statement:
“Over the coming weeks we will be reviewing our strategy as to how best to use [our] cash flow to maximize returns to shareholders, and consider what level of dividends the Company should pay. We plan on announcing the results of this review in the first half of September."
The Company announces that it has decided to delay announcing the details of our strategy review until mid-October, 2012 when we plan to release our 1st quarter results to August 31, 2012. This announcement has been delayed to allow the newly constituted Board to meet and discuss the strategy on site. Details of a conference call covering the first quarter results and the Company’s strategy will be announced closer to the time.
Our statement, expected for release on October 15, 2012 will set out the Company’s revised strategy and objectives including:
- Our expectations for the production and cash flow to be derived from the San Gregorio operation in Uruguay;
- Indications of a progressive dividend policy including the timing and quantum of future dividends;
- Our exploration and development strategy for extending mine life at our San Gregorio operations in Uruguay;
- Our plans for our Chilean projects at Pantanillo, Anillo and Talca.
About Orosur Mining Inc.
Orosur Mining Inc. is a fully integrated gold producer and exploration company focused on identifying and developing gold projects in Latin America. The Company operates the only producing gold mine in Uruguay (San Gregorio), and has assembled an exploration portfolio of high quality assets in Uruguay and Chile. The Company is quoted in Canada (TSX: OMI) and London (AIM: OMI).
Orosur Mining Inc
David Fowler, CEO
Ignacio Salazar, CFO
+ 562 9246800
Canaccord Genuity Limited (Nominated Adviser & Joint Broker)
Rob Collins / Andrew Chubb, +44 (0) 20 7523 8000
Seymour Pierce (Joint Broker)
Stewart Dickson / Jeremy Stephenson +44 (0) 20 7107 8000
Blythe Weigh Communications (Public Relations and Investor Relations)
Tim Blythe, +44 (0) 7816 924626
Robert Kellner, +44 (0) 7800 554377
Samantha Ryan, +44 (0) 7947 762658