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South America-focused gold producer Orosur Mining (OMI) has received the first $850,000 (£566,000) funding tranche from Chilean investment bank Asset Chile in a three-stage $3.5 million earn-in package to explore and develop the Anillo gold prospect in northern Chile. Based in the Uruguayan capital of Montevideo and quoted on AIM and in Toronto, Orosur whose shares have fallen from a 17.25p 12-month high to 9.13p now, sees Anillo as a potential ‘company maker’, though ‘high-risk’, says chief executive officer Ignacio Salazar, partly because of its proximity and likely similarity to Canadian group Yamana Gold’s El Penon mine in the same area, which holds an estimated 2.7 million oz. of gold and 48 million oz. of silver.
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