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Orosur Mining confirm “exciting” Columbia gold project

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(Kitco News) - Orosur Mining who has a market cap of £28.45 million has said it hopes to begin drilling its Anza project in Colombia next month, assuming there are no more Covid-19 restrictions.

 

It’s 100% owned Colombian subsidiary, Minera Anzá S.A has received approximately $650,000from Minera Monte Águila as a first payment to fund exploration at the Anzá project for the 12 month period commencing 7 September 2020. Monte Águila is the new name for Newmont Colombia SAS which is owned 50-50 by Newmont and Agnico.

 

Orosur CEO Brad George stated "Clearly the Covid-19 pandemic is presenting challenges to remote exploration that were not expected at the start of the year. However, the operating protocols that we have established are allowing our diligent and professional staff to plan and implement as near to a full exploration program as could be achieved under these trying circumstances."

As you can see from the weekly chart below, the share price has risen significantly in recent times. Just on the week beginning 21st September, the share price was as low as 5.65p and now the price it the resistance level at 20p. This represents a rise of over 250%. It will be interesting to see if the company can continue this trend beyond the resistance point.

 

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