Orosur Mining Inc (CVE:OMI) (PINK:OROXF) price performance got messed up and the stock even got halted this week, all in reaction to the company annual results and preceding price collapse.
Share price collapsed nearly 18% before the annual results were officially announced. The stock also lost its usual liquidity and barely traded this week, staying below $1 per share.
On Sep 23, the company announced their annual report and accounts for 2011, alongside the notice of the annual general meeting of shareholders which is scheduled to happen on October 18. The books showed positive developments:
- Assets increased by 25.2% to $98 million;
- Liabilities grew only 5% to $17.1 million;
- Net sales jumped 32% to $78.7 million;
- Had $29.7 million cash flow from operations;
- Gold production decreased 0.4% to 55.8 thousand ounces per year;
- Sold gold price increased 26.5% to $1,347 per ounce;
- Has 339 thousand ounces in proven and probable reserves;
- Nearly 1.9 million more ounces in measured and indicated resources.
Orosur Mining Inc. operates as a gold production and exploration company with projects in Latin America. The company operates a producing gold mine in Uruguay and has rights to several other assets in Uruguay and Chile.
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