Oriole Resources Share Discussion Threads

[oakville] 04/10/2021 07:59

From this low base should rise 20%+ this week.

[observer007] 04/10/2021 07:53

Although their % interest is decreasing the project has significantly increased in value through significant drilling activity.

So far the partners have spent $5m, they are serious players, ORR gets a free ride, lets say they eventually get a 2m or 3m oz JORC gold resource, even if ORR is ultimately diluted down to 5% that would be worth the current market cap alone just on that one project.

I think the volume spike on Friday is not related to this news however, so what was it down to?

I think it could be a good week here.

[the skipper] 04/10/2021 07:44

There are certainly some excellent grades there and at a depth suitable for open pit mining. It’s a shame that ORR’s interest now reduces to below 10% but the value of its interest should increase significantly once a resource estimate is issued.

[shortarm] 04/10/2021 07:32

Finally some not dust!TSD tried to take over STI when all the shareholder action kicked off....I'm guessing it would've been for the best seeing these results.....

[oakville] 04/10/2021 07:20

Excellent Diamond Drilling Results from Assaleyta and Hesdaba including best intersections of 17.37m grading 3.59 g/t Au and 10.75m grading 26.27 g/t Au respectively

[oakville] 04/10/2021 07:19

Fair grades with my limited knowledge..

[oakville] 04/10/2021 07:17

RNS that somebody got wind of...

[observer007] 03/10/2021 19:04

ORR was mentioned on Zak Mir's Sunday Roast podcast, they noted the increased volume & large buys on Friday, very low RSI and suggested it is due a bounce, this podcast is well followed so I suspect ORR will be popular tomorrow.

These guys also interviewed Tim Livesey fairly recently.



I have a gut feel something is going on, but what.

[the skipper] 03/10/2021 13:20

Could just be a conviction that this was the bottom and hence the best time to record a capital loss before switching to an ISA on the smaller trade, but the other is more of a mystery unless someone had such large capacity in an ISA.

One hell of a risk for a spread bet too, so possibly an accumulated short position being closed and matched by the market makers. Whatever, it certainly bodes well for the coming weeks and months here.

[yasxii] 03/10/2021 09:42

3 month average volume 15m shares, then Friday 96m, so what do insiders know that others don't ?

[benny shares] 01/10/2021 16:47

Those two trades alone were worth over a quarter of a million

[the skipper] 01/10/2021 16:38

Some massive trades here this afternoon. The first pair at the bottom of the spread so probably a bed and isa. The second pair near the top of the spread so probably a rollover, but one might well ask why both today? I suspect we will have some positive news here next week.

[the skipper] 01/10/2021 15:45

Interesting article: which reinforces my view that a major or mid tier gold producer will be looking to buy into the Cameroon licenses where ORR has clear first mover advantage imo.

[observer007] 01/10/2021 14:25

Can confirm there is nothing available online right now, one does wonder if there is some leftfield news in the pipeline, remember they have a asset disposal programme and are owed $1.5m from Turkish defaulters.

I reckon all in these debts and royalties are probably worth £3m-£4m, so add cash and the projects are valued at nil by the market ??

This could easily return to 1p+ if the right news is forthcoming.

[the skipper] 01/10/2021 13:42

It’s certainly looking like the bottom’s in here and as on previous occasions we can probably rely on HNW placees to drive the stock back up again. Frankly I am gutted that I am unable to add until one of my other stocks perks up a bit, but I’m glad that TL no longer has the distraction of dealing with the shenanigans at ORM and can focus sharply on increasing shareholder value here.

Onwards and upwards it should be for this grossly oversold stock.

[broken_arrow1] 01/10/2021 13:25

This looks ready to move up, the book has turned positive, IG want a premium for small quantities, the shares look materially oversold from a technical perspective.

The volume kick is interesting also, is news due ?

[gb904150] 01/10/2021 10:16

Yes, the BOD were said to be actively looking. They had to be....just like somebody wanting to keep their JSA has to be 'actively seeking work'.

But in reality they low alignment with shareholders as they had no stake in the business and were just happy with their salaries. Yes, they could dig up obscure amazing pipe dream deals in DRC which look great on paper but in reality will never happen but nothing serious.

Yes, Anderson might be after the money in the bank account or might use the listing to reverse other assets in and yes he will get his 'yes' men onboard but the point is he's also a 22% shareholder so he actually has some alignment with shareholders....something that is surprisingly lacking at many AIM co's.

To get this back on topic a little (ORR!)...the BOD here have surprisingly small stakes. Tim Livesey with a meagre 10.4m I think, so around 0.66%.

That said I respect that the cash burn is minimal, legacy assets might pay out enough to cover current mcap and not many £6.5m gold minnows have a JV with IAMGOLD. That's enough to alleviate my concerns over the small stakes. Aren't IAMGOLD also due to make a decision on Boto before EOY 2021?

[geotrav] 01/10/2021 08:25

GB904150, the BOD and management seemed to be indicating that all previous deals they’d considered had been blocked by Anderson, so not a lack of activity on their part perhaps. Looks like a classic ‘corporate raid’ where one shareholder controls by result of their large shareholding and an inactive investor base.
A new broom sweeps clean but I wonder who’s left to chase projects and actually do the work?
Maybe Anderson was just after the money in the bank account? He now controls the Board, having appointed all three of the remaining board as his representatives.

[luckyabbeygale] 01/10/2021 08:11

Well there you go a couple of 1m buys after yesterdays close, and a 2.4m buy first thing. As I did say a large buyer is lurking.

[geotrav] 30/9/2021 17:10

Entire Management team and the remaining independent director resigned with immediate affect following the lack of support for Livesey - seems to indicate the voting off of Livesey (by the single main shareholder? Seems his voting % matches the votes cast a against re-election) was the tip of the iceberg for the whole team…

[tricky red] 30/9/2021 16:41

Not sure of the circumstances. Still only received a fraction of the votes needed to remain. As you said, the remainder of the board resigned.

[geotrav] 30/9/2021 16:39

Followed by the entire management team and remaining non exec director also resigning… Seems that a shareholder has been trying to do a zero premium takeover and the Board (rightly) were trying to protect the rest o the investors…

[scottwhetton] 30/9/2021 16:24

That doesnt sit well

[tricky red] 30/9/2021 16:12

Livesey voted off the board of Ormonde at the AGM.