09:54 AM EST - Oromin Explorations Ltd. : is advising its shareholders to hold off on any decisions about a recent takeover offer from Teranga Gold Corp. Last month, Teranga made an unsolicited proposal to Oromin shareholders, offering 0.582 of a Teranga share for each Oromin share held. At the time, the Toronto-based miner said the value of the offer was a 50% premium on a 20-day volume-weighted average trading price of Oromin shares as of May 31. In a directors' circular, Oromin said the board of directors is reviewing the offer, and has not made any official recommendation. Oromin Explorations Ltd.
shares T.OLE are trading unchanged at $0.24.
