Orosur Mining Inc. is a gold producer and exploration company in South America. Our mission is to create shareholder value by identifying exploration opportunities in South America and turning them into successful gold production.
The Company operates the only producing gold mine in Uruguay (San Gregorio), and has assembled an exploration portfolio of assets in Chile. The company is listed on the TSX and AIM and currently has its head office in Santiago, Chile.
- The San Gregorio gold operation in Uruguay produced 55,458 ounces of gold in 2012
- Solid financial position with cash, low debt levels, and cash flow from operations
- Significant exploration holdings in Uruguay and Chile focused on gold
- Minority interests in a number of non-gold exploration projects that that we have farmed out in Uruguay
- Experienced management team in place to focus on growth objectives
Our vision is to provide shareholder value by running successful gold production operations in South America.
- Our first priority is to ensure that the San Gergorio mine is operating at peak efficiency, thus generating maximum cash flow
- To increase shareholder value by efficiently and effectively investing capital in exploration, development and mining efforts, as well potentially by acquiring suitable and accretive mining projects and/or operations in South America
To support this vision and strategy, the Board and the management team have set the following objectives:
- To maximize the Company’s free cash flow in the four years to 31 May 2016. We will do this by targeting San Gregorio production at between 60,000 to 70,000 ounces per annum from our existing reserves at an average cash cost of US$  per ounce.
- To carry out sufficient work to extend the life of the San Gregorio mine to maintain in future years a minimum of four years of life
- To advance our existing projects at Anillo, Pantanillo and Talca in Chile to commercial assessment
- To monitor the progress of our farmed –out projects to obtain the maximum value for them and
- To have sufficient cash on our balance sheet and to be generating cash so that when, as we expect, the difficult market for funding exploration projects results in their prices reducing to a reasonable level, we are in a position to acquire new projects in South America that have real potential and low risks at realistic prices. If we do not find the right projects, then there will be additional cash that can be returned to shareholders.