Oriole Resources Share Discussion Threads

[grimreaper2019] 30/6/2021 08:38

Can see a placing coming in Q3, they need cash to advance the next drilling campaign in Cameroon, looks like some forward selling has already started.

Would not rule out the placing price being in the 0.45p region, maybe slightly lower due to ever worsening market conditions.

Buyers beware.

[bspgamer] 29/6/2021 23:21

JUJU you find more gold from another ring where the sun don't shine!!

[the skipper] 29/6/2021 20:30

Probably right at this level but there have been people dissing this stock all the way down from 1.5p and obviously shorting it. Some saw today as an opportunity to maximise their gains, hence the bashers on both here and lse.

We do not need to concern ourselves about when some of the Senegal licences might be acquired as decent drilling results there will inevitably add value.

[shortarm] 29/6/2021 18:07

Shorting an explorer stock at this MCAP is suicidal!Senegal is the hope but how soon does it need to be acquired? I expect they can wait longer than we can?

[the skipper] 29/6/2021 17:57

Market cap is now only £10 m which is more than underpinned by what they have in Senegal alone, as Tim confirmed in his earlier interview , yet the shorters have been all over this like a rash today trying to convince everyone that Cameroon is a duffer. The reality is that ORR have made a decent start on proving up a new gold province using a broad brush approach and will home in on the better prospects in the next drilling campaign.

[the stigologist] 29/6/2021 17:32

The results are fine if you are investor but dire if you are a trader

No way are narrow intersections at 1g/t anything to write home about

Long term these results will though help them calibrate their understanding of the Cameroon geology

Stock underpinned by Senegal though so just a matter of time/more Cameroon drilling

[shortarm] 29/6/2021 14:51

Let's just be honest a second..... he's hardly gonna say 'so we drilled a load of mud' is he?? FFS stop trying to mislead people! There is hope here and there is obviously a source of gold and maybe better results nearby but today's RNS is a very small stepping stone!

[the skipper] 29/6/2021 14:16

Interview out on Proactive. Tim Livesey seems much happier with the results than the doom mongers on here and lse:

[oakville] 29/6/2021 13:10

A 30% swing just today.. Whoosh.

[shortarm] 29/6/2021 11:58

The only reason I show Stratex results is it's effectively the same company. Claire Bay and some of the same geologists still work here. That made a decent find at Oksut and they may again.They haven't yet.

[shortarm] 29/6/2021 11:55

Google Stratex Oksut drill results - one result - there are better:
The initial results from the new programme include intersections of 234.4 metres at 2.08 grammes gold, including 72.5 metres grading 4.43 g/t Au, and 220.2 metres at 1.83 g/t Au, including 66.7 metres grading 3.13 g/t Au. Results indicate that the gold grade is increasing with depth.

[the skipper] 29/6/2021 11:21

The deepest hole reported went to 112m but true depth would have been shallower as they drilled at an angle. Most of the other holes are much shallower and therefore eminently suitable for low cost open pit mining.

Here's another article for context regarding grades:

To quote from it: "The World Gold Council defines a high-quality underground mine as having a gold ore density between 8 and 10 g/t, while a low-quality underground mine has a gold ore density of 1 to 4 g/t.5

Open-pit mines tend to have a lower grade, but they can be considered very valuable because of the lower average operating costs necessary to obtain them. The council recommends using cost per ounce, not gold ore grading, to evaluate a gold mine."

[juju44] 29/6/2021 11:06

Not enough gold there to make a ring for the wife

[shortarm] 29/6/2021 10:56

At Oksut was it? Stratex which ORR was birthed from drilled a couple of hundred meters at a couple of g/t - now that is commercial if it is heap leachable.They sold it for a good price.

[dogwalker] 29/6/2021 10:49

Who's right then on the topic of viability here - Shortarm, or The Skipper?!

[shortarm] 29/6/2021 10:41

Well, they found small amounts of gold over short intervals too deep to ever be commercial!Hopefully they will do better but as with all explorers - it's a gamble.

[the skipper] 29/6/2021 10:39

Because some just don't get it. These results certainly seem good enough to me to attract a big name partner into Cameroon to fund further exploration and the board of this company certainly have the right connections to achieve that. Meanwhile drilling progresses in Senegal and there should be further news from there this summer.

[the skipper] 29/6/2021 09:18

TPI There's nowt wrong with having two profiles,avatars reflecting leisure interests at the time the profile was created,which were many years apart, and I certainly have not dumped any of the considerable amount of stock I hold in this company.

The stock should not need to be ramped but some have trouble understanding what's required for a commercial gold mining operation and would be wise to read this article, albeit that it's four years old now and gold prices are much higher:

"A gram of gold is worth about $25, so 2 grams or better would be viewed as high-grade for bulk tonnage mining". Note that today's results have four holes in this category plus plenty of others where open pit mining should be economic at current gold prices.

[the skipper] 29/6/2021 08:07

It should be shortly. 5 market makers now on the bid so there are clearly some decent orders in the system.

[juju44] 29/6/2021 07:56

I think if smart money was here the market cap would be a lot more than 10 mill

[the skipper] 29/6/2021 07:48

Yes, not only have the company confirmed a resource which is viable for open pit mining in a very low cost jurisdiction they have established the dominant position in Cameroon and the majors will almost certainly be interested. The smart money is now buying in as it digests the RNS with 4 market makers now on the bid and plenty more news to come both here and in Senegal.

[luckyabbeygale] 29/6/2021 07:26

I find this part the most interesting:

Under the terms of its option agreement with Bureau d'Etudes et d'Investigations Géologico-minières, Géotechniques et Géophysiques SARL ('BEIG3'), the Company has satisfied the conditions to earn a 90% interest in RMC Cameroon SARL, which owns Bibemi, the Wapouzé project (20km to the north) and three licences in Central Cameroon. The administrative process to formalise this ownership is currently underway, including the formation of a new local subsidiary company into which the licences can be transferred.

At the Central Cameroon project, located approximately 300km to the southwest of Bibemi, regional mapping and stream sediment sampling programmes are continuing over the entire 3,592 square kilometre land package . To date, a total of 561 samples of a planned 1,360 samples have been collected, with three of the eight licences (Niambaran, Tenekou and Pokor) now complete. It is anticipated that the two remaining Oriole Cameroon Sarl licences (owned 90%), namely Mbe and Ndom, will be completed during next month. The three westernmost licences, Mana, Sanga, Dogon (owned via a 51% interest in RMC Cameroon Sarl) will be undertaken in Q4, after the seasonal rains. Full results from the programme are expected in H2-2021.