Orosur chairman increases interest after £20,000 share purchase

Chairman of Orosur Mining (LON:OMI) John Walmsley now has an interest of 0.18% in the miner company following a share transaction.

It followed a purchase of 140,350 shares at £0.1425  per share through his spouse - at a cost of £19,999.875.

Shares in the company shot up last week as the group’s production figures came in well ahead of expectations, while costs dropped significantly.

The AIM-listed group, which runs San Gregorio, Uruguay’s only producing gold mine, said output was 16,851 ounces of the precious metal in the three months to August 1.

This compared with guidance of 13,500 to 14,500 ounces, while cash operating costs were an impressive US$755 an ounce, well ahead of the slated US$950 to US$1,000 an ounce.