REG - Orosur Mining Inc - Results for Second Quarter ended November 30, 2025
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RNS Number : 2400Q Orosur Mining Inc 26 January 2026
Orosur Mining Inc.
Results for Second Quarter ended November 30th, 2025
London, January 26th, 2026. Orosur Mining Inc. ("Orosur" or "the Company")
(TSX-V/AIM: OMI) the minerals developer and explorer with operations in
Colombia and Argentina, announces its unaudited results for the quarter ended
November 30th, 2025. All dollar figures are stated in US$ unless otherwise
noted.
The unaudited condensed interim financial statements of the Company for the
quarter ended November 30th, 2025 and the related management's discussion and
analysis ("MD&A") have been filed and are available for review on the
SEDAR+ website at www.sedarplus.ca. The financial statements and the MD&A
are also available on the Company's website at www.orosur.ca
(http://www.orosur.ca) .
To view the PDF version of the financial statements please click
here: http://www.rns-pdf.londonstockexchange.com/rns/2400Q_2-2026-1-23.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2400Q_2-2026-1-23.pdf)
To view the PDF version of the MD&A, please click
here http://www.rns-pdf.londonstockexchange.com/rns/2400Q_1-2026-1-23.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/2400Q_1-2026-1-23.pdf)
Both PDF version's of the MD&A and financial statements is available here:
www.orosur.ca
Highlights
Highlights for the three months ended November 30th, 2025 include:
Operational
· In Colombia, during the whole quarter, infill drilling has
continued at its Pepas gold prospect in Anzá, with the objective of moving
Pepas to a NI43-101 compliant Mineral Resource Estimate ("MRE".) As
anticipated, drilling results have firmed up the Pepas deposit and provided
better definition of the nature of the thick, high-grade mineralisation.
Recent results are largely as expected in terms of the grade distribution
across Pepas. The MRE at Pepas is anticipated to be delivered by the end of
January 2026.
At El Cedro, some 10kms to the south of Pepas but on the same licence, the
Company completed a large-scale soil geochemical survey covering most of what
is thought to be a large scale porphyry system. Soil samples were taken at
roughly 25m intervals, along ridges and spurs for ease of access and to ensure
soils were residual. The survey showed gold assay results identifying a
substantial, gold bearing system, with highly anomalous geochemical responses
over a large, well preserved zoned porphyry system, with soil samples assays
at times exceeding 1g/t Au.
In addition, analysis of new geochemical data, in conjunction with historical
mapping information and airborne geophysical data collected in 2012 has
identified a second porphyry system to the south of El Cedro within the same
structural regional corridor.
· In Argentina, the Company has earned a direct 51% interest in the
Argentine company, Deseado Dorado S.A.S ("Deseado"), that owns the exploration
licences that make up the El Pantano Project in Santa Cruz province. The
Company has now moved into the Phase 2 of the JV, that will see it move to
100% ownership of Deseado upon investment of an additional US$2m, a large
part of which will be spent on a 3,000 metre drill program which commenced at
El Pantano in November and is expected to conclude in early 2026.
First holes from the El Pantano drilling program confirm a low sulphidation
epithermal mineral system. Whilst assays are still awaited, the Company is
confident that it has achieved its general objective of proving the existence
of a substantial mineral system.
· In Nigeria, in view of the Company's need to prioritise the use
of its capital and human resources, a decision was taken to withdraw from the
lithium project which will be formalized over the next few weeks. The
investment in Nigeria was fully impaired in the Company's financial statements
as at May 31, 2025 and it remains fully impaired.
Financial and Corporate
· On November 30, 2025, the Company had a cash balance of
US$16,280,000 (May 31, 2025 US$4,877,000). As at the date of this MD&A and
including the funds raised in the private placement (detailed below), the
Company had a cash balance of US$14,920,000.
· On September 18, 2025 the Company announced an upsized brokered
private placement (the "Placing") to raise gross proceeds of up to CAD$20
million through the issue of up to 58,823,530 common shares at a price of
CAD$0.34 per common share. The Placing, which was over- subscribed, was
completed on October 2 2025 and raised CAD$20 million. No warrants were issued
in connection with the Placing.
· Post the period end, at the Company's AGM held on December 17,
2025 all resolutions put to shareholders were duly passed.
· The unaudited condensed interim consolidated financial statements
have been prepared on a going concern basis under the historical cost method
except for certain financial assets and liabilities which are accounted for as
Assets and Liabilities held for sale (at the lower of book value or fair
value) and Profit and Loss from discontinuing operations. This accounting
treatment has been applied to the activities in Uruguay and Chile.
Condensed Interim Consolidated Statements of Financial Position
(Expressed in thousands of United States dollars)
Unaudited
As at As at
November 30, 2025 May 31,
$ 2025
$
ASSETS
Current assets
Cash 16,280 4,877
Restricted cash 12 12
Accounts receivable and other assets 656 434
Assets held for sale in Uruguay 10 20
Total current assets 16,958 5,343
Non-current assets
Property and equipment 300 288
Exploration and evaluation assets 6,335 3,858
Total assets 23,593 9,489
LIABILITIES AND EQUITY
Current liabilities
Accounts payable and accrued liabilities 820 623
Warrant liability 3,578 1,706
Liability of Uruguay discontinued operation 486 529
Total current liabilities 4,884 12,858
Total liabilities 4,884 2,858
Equity
Share capital 90,721 74,675
Share-based payments reserve 11,192 10,931
Warrants 36 436
Currency translation reserve (1,445) (2,159)
Accumulated deficit (81,801) (77,258)
Total equity attributable to owners of the parent 18,703 6,625
Non-controlling interest 6 6
Total equity 18,709 6,631
Total liabilities and equity 23,593 9,489
Condensed Interim Consolidated Statements of (Loss) Income and Comprehensive
(Loss)
(Expressed in thousands of United States dollars)
(Except common shares and per share amounts)
Unaudited
Six Months Ended Six Months Ended
November 30, 2025 November 30, 2024
$ $
Corporate and administrative expenses (995) (913)
Exploration expenses (132) (109)
Share-based compensation (706) (107)
Other income 8 51
Net finance cost (17) (6)
Loss on fair value of warrants (2,532) -
Foreign exchange (loss) gain (185) 18
Net loss for the period for continuing operations (4,559) (1,066)
Income (loss) from discontinued operations 16 2,936
Net income (loss) for the period (4,543) 1,870
Item which may be subsequently reclassified to income (loss):
Cumulative translation adjustment 714 (680)
Total comprehensive income (loss) for the period (3,829) 1,190
Basic and diluted net income (loss) per share for
- continuing operations (0.01) (0.00)
- discontinued operations 0.00 0.01
Weighted average number of common shares outstanding 339,688,019 215,596,429
Condensed Interim Consolidated Statements of Cash Flows
(Expressed in thousands of United States dollars)
Unaudited Six Months Ended Six Months Ended
November 30, 2025 November 30, 2024
$ $
Operating activities
Net (loss) income for the period for continued and discontinued operations (4,543) 1,870
Adjustments for
Depreciation 10 10
Share-based payments 706 107
Reversed liability and interest accrued - (2,376)
Loss on fair value of warrants 2,532
Foreign exchange and other 53 (11)
Changes in non-cash working capital items:
Accounts receivable and other assets (223) (69)
Accounts payable and accrued liabilities 132 (628)
Net cash used in operating activities (1,333) (1,097)
Investing activities
Purchase of property and equipment (22) -
Exploration and evaluation expenditures (1,793) (268)
Net cash used in investing activities (1,815) (268)
Financing activities
Proceeds from issue of common shares, net of shares issuance cost 13,137 952
Proceeds from exercise of options 286 -
Proceeds from exercise of warrants 1,778 -
Warrant liability exercised (660) -
Net cash provided by financing activities 14,541 952
Net change in cash 11,393 (413)
Net change in cash classified within assets held for sale 10 30
Cash, beginning of period 4,877 1,328
Cash end of period 16,280 945
Operating activities
- continuing operations (1,304) 1,309
- discontinued operations (29) (2,406)
Investing activities
- continuing operations (1,815) (268)
Financing activities
- continuing operations 14,522 952
- discontinued operations 19 -
For further information, visit www.orosur.ca (http://www.orosur.ca) , follow
on X @orosurm or please contact:
Orosur Mining Inc
Louis Castro, Chairman,
Brad George, CEO
info@orosur.ca
Tel: +1 (778) 373-0100
SP Angel Corporate Finance LLP - Nomad & Joint Broker
Jeff Keating / Jen Clarke / Devik Mehta
Tel: +44 (0) 20 3470 0470
Turner Pope Investments (TPI) Ltd - Joint Broker
Andy Thacker/Guy McDougall
Tel: +44 (0)20 3657 0050
Flagstaff Communications and Investor Communications
Tim Thompson
Allison Allfrey
Mark Edwards
orosur@flagstaffcomms.com
Tel: +44 (0)207 129 1474
The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 ('MAR') which has been incorporated into UK law by the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement via Regulatory Information Service ('RIS'), this inside
information is now considered to be in the public domain.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
About Orosur Mining Inc.
Orosur Mining Inc. (TSXV: OMI; AIM: OMI) is a minerals explorer and developer
currently operating in Colombia and Argentina.
Qualified Persons Statement
The information in this news release was compiled, reviewed, verified and
approved by Mr. Brad George, BSc Hons (Geology and Geophysics), MBA, Member of
the Australian Institute of Geoscientists (MAIG), CEO of Orosur Mining Inc.
and a qualified person as defined by National Instrument 43-101.
Orosur Mining Inc. staff follow standard operating and quality assurance
procedures to ensure that sampling techniques and sample results meet
international reporting standards.
Forward Looking Statements
All statements, other than statements of historical fact, contained in this
news release constitute "forward looking statements" within the meaning of
applicable securities laws, including but not limited to the "safe harbour"
provisions of the United States Private Securities Litigation Reform Act of
1995 and are based on expectations estimates and projections as of the date of
this news release.
Forward-looking statements include, without limitation, the continuing focus
on the Pepas prospect, the exploration plans in Colombia and the funding of
those plans, and other events or conditions that may occur in the future.
There can be no assurance that such statements will prove to be accurate.
Actual results and future events could differ materially from those
anticipated in such forward-looking statements. Such statements are subject to
significant risks and uncertainties including, but not limited to, those
described in the Section "Risks Factors" of the Company's MD&A for the
year ended May 31, 2025. The Company's continuance as a going concern is
dependent upon its ability to obtain adequate financing. This material
uncertainty may cast significant doubt upon the Company's ability to realize
its assets and discharge its liabilities in the normal course of business and
accordingly the appropriateness of the use of accounting principles applicable
to a going concern. The Company disclaims any intention or obligation to
update or revise any forward-looking statements whether as a result of new
information, future events and such forward-looking statements, except to the
extent required by applicable law.
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