teranga offer to acquire oromin, page-2

Interesting that TGZ has gone hostile, having failed to get Oromin to agree to terms. Its a win/win that was inevitable, so hostile is a surprise. It also explains all the recent tying up of arrangements with the Senegal govt.

Oromin (TSX OLE) shares have risen to 38c, which is a fraction under TGZs effective bid price.... the market believes this is going to happen, and on TGZ's terms.

My favourite part of the announcement is...

-- Financial metrics to Teranga, on the basis of gold at $1,400 as follows:
-- Full life free cash flow that is expected to increase by 50%;
-- NAV that is expected to increase by 50%; and
-- Earnings that are expected to increase by 300%.