Oriel Resources Share Discussion Threads

[knackers] 04/7/2007 17:09

If they go anywhere near 50p I'll be re-mortgaging.

;o)

[kermit] 04/7/2007 16:33

Even though i agree they are a hold. The problem i have is there is obviously no after secondary market.

No one seems interested in the stock in the secondary market ... This is a failing of the company and broker alike.

[hywel] 04/7/2007 14:09

The recent share price weakness is disappointing, considering the recent placing was at 61p, but it's now back to the long term uptrend line and the RSI is looking oversold. Institutions were happy to take shares at 61p so i believe if anyone wanted to top up now would be a good time. Medium to long term this is a great hold.

[kermit] 04/7/2007 13:40

How deflating...

This company has the ability to do great deals
Be reversed into by one company with $100mil
Raise funds to the tune approx £50mil
Bring smelting forward and complete on its objectives

Yet it cannot even maintain the share price to reflect the recent raising of money.

I am very dissappointed and a very disgruntled share holder.

Boring boys boring

[hywel] 03/7/2007 16:29

Oriel Resources PLC
02 July 2007


AIM: ORI
TSX: ORL
PRESS RELEASE
30 June 2007


Oriel Resources plc

Final Results for the year ended 31 December 2006
________________________________________________________________________________

Oriel Resources plc, ('Oriel', or the 'Company') the London-based chrome and
nickel mining and processing company, announces its audited results for the year
ended 31 December 2006. All amounts are presented in US Dollars.

Highlights:

Financial highlights

• Following the Extraordinary General Meeting - 6 December 2006, the Group
completed the merger of the existing assets of Oriel Resources plc and the
ferrochrome smelting plant in Tikhvin, Russia. The resultant reverse
takeover of Oriel Resources plc injected cash reserves of $100m.

• On 22 December 2006 Oriel signed the $120m Finance Facility Agreement to
fund the development of the Voskhod Chrome Project, Kazakhstan.

• Throughout the year, the Group has focused on the development of its
existing projects and corporate objective of building a vertically
integrated supplier to the stainless steel industry. New Board appointments
have included Messer's Nesis, Rieger and Woodyer who each add relevant
experience and strategic thinking to the Board.

The annual general meeting of the Company will be held at Ground Floor, 1 Red
Place, London W1K 6PL at 12.00 noon on Tuesday 31 July 2007.

Executive Chairman, Dr Sergey V Kurzin commented:

'2006 will be seen as one of significant and positive developments for the
Group. From the Voskhod chrome project's extremely positive feasibility study
results in June and December's reverse takeover, to the securing in December of
an award-winning US$120 million debt finance package for the development of the
Voskhod project, 2006 has been a year of numerous successes.

Post-acquisition, an aggressive programme of continued construction and
completion continued at Tikhvin. The smelter is now operational with the first
successful smelt occurring April 2007.'


Executive Chairman's Statement

Emergence of a new, integrated stainless steel industry supplier

I am pleased to present Oriel Resources plc's financial results for the year
ended 31 December 2006. This year will be seen as one of significant and
positive development for the Group. From the Voskhod chrome project's extremely
positive feasibility study results in June and December's

RTO, to the securing in December of an award-winning US$120 million debt finance
package for the development of the Voskhod project, 2006 has been a year of
numerous successes.

Milestones:

June 2006
Prior to the RTO, the Voskhod chrome project feasibility study results
indicated average annual saleable chrome ore of over 900,000 tonnes and a
significant off-take demand.

Construction commences at the Voskhod project.


September 2006
Successful completion of the Voskhod boxcut.

December 2006
IPH Polychrom Holdings B.V.I. ('IPH') and Croweley International Limited
('Croweley') completed the RTO of the Company whose two major assets include
separate chrome and nickel deposits in north western Kazakhstan. IPH's
principal asset is the Tikhvin ferrochrome smelting plant in Russia, while
Croweley's only asset was US$100 million cash. This resulted in the
shareholders of IPH and Croweley gaining control of the enlarged Group. Under
the continuing operational management and name of Oriel Resources plc, the
RTO formed a new, cash rich,vertically integrated ferroalloy producer.

Shareholders approved the formation of the expanded Oriel at an Extraordinary
General Meeting on 6 December 2006

December 2006
Voskhod Chrome Project's US$120 million debt financing, closed with the
Eurasian Development Bank ('EDB') (Russian/Kazakh Government joint venture),
Bayerische Hypo- und Vereinsbank AG ('HVB') and WestLB AG ('WestLB'). These
three institutions agreed to provide loan facilities totaling US$120 million
for the further development of Oriel's Voskhod chrome project

March 2007
Project Finance magazine presents the European Mining Deal of the Year 2006
award to the Voskhod Chrome Project for its recently-completed debt financing
deal April 2007.

First production at the Tikhvin ferrochrome smelter, Russia June 2007

Oriel completes a private placement raising approximately US$96 million
(approximately C$104 million) by the issue of 80,000,000 ordinary shares at a
price of 61 pence (approximately C$1.30) per share.

As a result of the reverse takeover, the Consolidated Financial Statements of
the Group are presented as if IPH was the acquirer of Oriel Resources plc. As a
result, the Income Statement of the Group shows the historic trading of IPH for
the full year and includes the trading of Oriel Resources plc from only the date
of RTO.

The RTO was an extremely positive move for the Group, as IPH's only asset was an
almost complete ferrochrome smelter in Tikhvin, 200km south east of St
Petersburg, Russia. Post-acquisition, an aggressive programme of continued
construction and completion has continued at Tikhvin.

The recent commencement of ferrochrome production at Tikhvin and the ongoing
development of the Voskhod chrome project have now placed Oriel in a strong
position to achieve its long-term objective of vertical and horizontal expansion
and to become a premier, fully integrated ferroalloy supplier and producer. In
addition, management is aggressively evaluating the optimum process and
economics options to develop the Shevchenko nickel project, with on-going
discussions with financial advisers. A decision on chosen technology and a
construction time-line will be made in Q3 2007.

During 2006, the Company's experienced management team and advisors, with strong
Russian and Kazakh Government support, established a secure platform for the
Company's future growth. As a direct result of acquiring Croweley with its only
asset of cash US$100 million and the securing of Voskhod's US$120 million debt
finance package, the Company immediately found itself with a strong cash
position and balance sheet. In April 2007, Oriel commenced high carbon
ferrochrome production at the Tikhvin smelter.

The directors and I believe the enlarged cash position and the commencement of
ferrochrome production are two factors, amongst others, which may be used to
expedite the development of the Shevchenko nickel project and allow Oriel more
options for further participation in the ferroalloy and stainless steel
industries. We believe the success of our expansion and formation of new
partnerships reflects the confidence shown not only in Oriel's projects and
management, but also in Kazakhstan, with its political stability, emerging
economy and its vast base of natural resources.

The Oriel Board is extremely pleased to have closed the Voskhod debt financing
in such short a timeframe and would like to thank EDB, Unicredit and WestLB for
their support. In particular, we welcome EDB's involvement as a joint venture
between the Russian and Kazakh Governments and are delighted to be its first
major international mining financing. We look forward to long-term co-operation
with EDB on other projects within the region.

Our congratulations and thanks also go to Endeavour Financial for their hard
work in arranging the funding facility and for contributing to Oriel being
awarded the 2006 European Mining Deal of the Year from Project Finance Magazine.

Most recently, Oriel successfully completed a private placement raising US$96
million which will be used as general working capital and for assessment,
evaluation and engineering works for additional FeCr production and further
progressing of the Shevchenko nickel project.

The outlook for the global stainless steel market remains encouraging, with
leading indicators showing signs of strong growth in demand for our chrome and
nickel products. The International Stainless Steel Forum ('ISSF') believes
global stainless crude steel production could rise by more than 5% in the next
12 months. Again China will take the lead in growth rates within a growing Asian
market. The ISSF believes Western Europe will be the second largest stainless
steel producing region, followed by The Americas and Central and Eastern Europe.
With our projects strategic locations and management's aggressive approach to
the advancement of those projects, we expect to be well positioned to deliver
strong returns for our shareholders by developing our assets and expanding our
activities. Management firmly believes that the Group will be able to bring the
Voskhod project online as one of the world's lowest cost, high quality chrome
operations and in record time. For a company the size of Oriel, the transition
from feasibility study through to production in just over two years is indeed
significant.

As a result of the RTO, Alexander Nesis, Ehud Rieger and Neil Woodyer have
agreed to become non-executive directors. As a result of the additions to the
Board of Directors, David Swan, Dr Nic Barcza and Lord Mackenzie of Framwellgate
have stood down as directors of Oriel. David Swan has continued as CFO & Company
Secretary and will continue to be a valuable member of the Executive Management
Committee ('EMC'). Dr Nic Barcza will also continue as an integral member of the
EMC in his role as General Manager - Market Development & Project Evaluation. I
would like to thank Lord Mackenzie for his Contribution and support of the
Company.

I would like to take this opportunity to thank all our employees, management
team, advisers and business partners in Kazakhstan, Russia and London in
particular Canaccord Adams, Endeavour Financial and Norton Rose who worked
extremely hard to ensure 2006 was as successful as it was. The high level of
dedication, commitment and long hours were instrumental in delivering these
results and creating sustainable future shareholder value.

Dr Sergey V Kurzin
Executive Chairman
30 June, 2007

[mical] 29/6/2007 08:12

results and some update must be close now.

[big onions] 27/6/2007 15:18

how much is stuff costing to smelt! and where are they getting their feed from until Voskhod is up and running? Turkish and Albania ores are selling at around $400 per tonne, just hope the ferrochrome price is rising accordingly. Have they actually sold any yet? they have been smelting for a couple of months

[flagon] 21/6/2007 21:01

Oriel on Minesite.

link :-


Good luck,


Flagon

[knackers] 13/6/2007 11:22

Hmmm that's quite a trend line. Nice.

[mikehardman] 11/6/2007 11:13

good to have that placing done and dusted; ORI progressing nicely;
some news of cashflow from the smelter would be nice

[kermit] 06/6/2007 09:20

They have just been reversed into by one of the richest men in russia.

This is now a russian company listed on UK market.

[a5hley] 06/6/2007 09:03

Am a holder(from 45)-but have deep reservations about any companies involved with russia or former fsu states.Just begining to get the impression any good deals MAY result in confiscation of assets.Same as BP.Any sensible views?

[hywel] 25/5/2007 12:43

Went down to 57.5p but now up to 60.5p as i write - bit of a turnaround!

[hywel] 25/5/2007 10:09

That's how to do a placing! Offer them at 61p when the market price is 60p, well done ORI!

Well if you tried to buy a million odd shares in the market the price would soon start going against you, you might get the 1st few hundred thousand at 58p but you'd soon be paying more.

They certainly don't mess about ORI, when they do a revese takeover they do a reverse takepver, when they do a placing they really do a placing!

[locustchacha] 25/5/2007 09:43

Placing @ 61p, Market 58p.
Why would you pay 61p ?

[knackers] 23/5/2007 17:36

Indeed Flagon - I'm keeping my blue cfd long - very much open.

[flagon] 21/5/2007 16:49

Whilst we are all waiting for the next bit of news. Have a read of this ....


Strong Demand Cranks Up Spot Ferrochrome Prices

By Charlotte Mathews
21 May 2007 at 10:37 AM GMT-04:00





Oriel is in the right place at the right time IMHO. Still waiting for the market to unlock the true value of Shevchenko. It is coming ...


Good luck,

Flagon

[daviddunne82] 18/5/2007 16:03

Back of the packet valuation based on NPV

Chrome Assets (100%):
NPV @ 10% $900m (in re admission doc)

Nickel Asset (90%)
NPV @ 10% $1,600m
Capex $600m (40:60 equity:debt) = £108m needed to be raised

Shares in issue 550m
New funds @ 60p = 180m shares
Total shares = 730m

Total NPV = $2340m (£1170m)

NPV/share: £1.60

[kermit] 17/5/2007 16:23

I wonder why all the trades are on the sets book and there seems to be nothing behind the scenes at all???

[kermit] 15/5/2007 16:10

Well it looks like a MM move to uncover some sellers rather than a news driven move.

Still they must have business to do as they keep soaking up the selling .... i prefered it when it was 68p though!!!!

it would be nice to see some buying pressure on the book again though.

Volume is weak as well

[big onions] 11/5/2007 13:46

Voskhod mine is under construction, EPCM in place and decline underway should be producing very high quality low cost Chromite by this time next year, margin will increase on produced ferrochrome, decision around the corner on which production path to adopt for Shevchenko, I definitely will not be selling, once shevchenko gets the nod I think the take over option will become a real possibility

[eenyweeny] 10/5/2007 21:34

Not sure what dates are for this current year. Last year interims and annual report were on 30 June.

[mical] 10/5/2007 16:49

Anybody know if the results are next week.