Oriole Resources Share Discussion Threads

[the skipper] 08/3/2022 12:39

Jackbal, I covered this issue in my report on the Investor Meet event on 2nd March, the releveant bit being:
"They said that cash realisation on the non operated assets was ongoing and now anticipate that the Turkish court cases will be resolved by agreement rather than go all the way to court hearings. They have also been 'renting out' the Turkish team to help develop the assets which have been farmed out.

I asked a question about forming a strategic alliance with a major or mid tier for the Central license package in Cameroon and TL said that was exactly the plan. Someone else asked about the the need to raise cash and the FD pointed out that the cash position would be apparent when the year end results are issued shortly (24th March last year).

Another question asked what near term catalysts might come into play and Bob Smeeton said that they had to remain flexible but if an offer came in for ORR's share of Senala they would have to look at it. Not sure if that was a subtle hint or not."

Let's also not forget that they raised 1.75m less than 6 months ago.

[jackbal] 08/3/2022 11:51

Skip - I’m holding these and badly underwater. The market is pricing in more nasty dilution. The type where even raising a couple mill means giving away 20-30% of the company.
Last year I was banging on about legacy assets as the failure in this area so far is partially causing the dilution.

If you are correct that a positive liquidity event is due then that will no doubt do wonders for the share price and sentiment but do you have any clear reasons for implying this may happen? or just wishful thinking (I wouldn’t blame you for that as it’s the only thing that will stop the rot)

[the skipper] 08/3/2022 10:33

Put the 15th March in your diaries. ORR are presenting at the 6ix Virtual Spring Conference that day and I have a feeling that they will issue their final results on the day or beforehand. If, as I suspect, they are able to provide a decent update on the legacy assets or the introduction of a partner for the Central license package in Cameroon there should be some fireworks around then, with positions being built beforehand and juju will be beating a hasty exit

[luckyabbeygale] 08/3/2022 09:56

Here we go. The big boys have started buying after using their scare tatics. Juju most likely works for the market makers. Always negative and always will be.

[luckyabbeygale] 08/3/2022 08:55

I can currently buy at 0.2919p.

[juju44] 08/3/2022 08:32

Multi bag to zero

[luckyabbeygale] 08/3/2022 08:06

Gold now over 2k. ORR will start multi bagging anytime from now.

[the skipper] 03/3/2022 13:59

We should have an update about the legacy assets in the next few weeks when the annual results are issued. This is what was said about them in the interims:

"Away from Cameroon and Senegal, we are pleased to see that our three key legacy assets are moving forward along development routes that will enhance their value. In Turkey, our partner on the Muratdere copper-gold porphyry project, in which we have a 1.2% royalty interest, has continued to advance the Environmental Impact Assessment that will dictate whether the project can move to mine construction. The project has an initial mine plan (16 million tonnes of a total 51 million tonne resource) to deliver 68,000 tonnes of copper, which at today's prices would give gross metal revenues in excess of U$700 million. We look forward to the successful completion of this key next stage, which we believe will significantly enhance the value of our residual holding, as it continues to de-risk the project.

The Turkish team has continued to operate as a cash generative consultancy business through the Period, whilst at the same time working with our partner Bati Totoslar on the drilling programme at the Hasançelebi gold project. As the results of this drill programme come through, the team will be working on the resource estimation work that is a first step towards a US$0.5 million success-based payment that will become due upon successful completion of an Environmental Impact Assessment. The Turkish team remain an important part of our efforts to unlock value from the legacy asset portfolio and we are confident of the eventual recovery of US$1.4 million of debts owed by our former Turkish partners NTF and Anadolu Export.

Elsewhere, we have seen positive moves in our trade investments in the former Thani Stratex joint venture, Thani Stratex Djibouti ('TSD'), which was unbundled at the end of 2019 to spin-out the Djibouti assets into a separate vehicle. The drill programmes in Djibouti have continued, with 687.80 m diamond drilling and 2,508 m RC drilling completed at the Assaleyta project during the Period. Best results to date include 16.00 m grading 1.08 g/t Au from 12.00 m and 5.00 m grading 8.97 g/t Au from 110.00 m including 1.00m grading 43.00 g/t Au, with further results anticipated in H2-2021 (announcement dated 1 July 2021). These results continue to confirm the potential of TSD's exploration assets, in which we have a 10.61% interest. Progress has also been made at Thani Stratex Resource's Egyptian assets, with the securing of a new earn-in partner (announcement dated 16 March 2021) who will be looking to further extend the 729,000 oz Au resources (JORC and non-JORC) already identified on the Hutite licence. We continue to hold 24.92% in Thani Stratex Resources and look forward to the planned drill programme which is expected to start during H2 2021.

In addition to our Turkish and East African assets, we were notified during 2018 that the historic, and fully written off, holding in Rift Resources Limited had been transferred into a 0.68% holding in Elephant Oil Limited, an oil exploration company who hold a c4,600 km2 licence on prospective ground in Benin. In 2021 we have been notified that Elephant Oil Limited is going through a fund-raising process leading to a listing on NASDAQ. As this process is ongoing, and there is no certainty of success, we have not revalued the investment balance in these financial statements, but note the potential for our holding to be revalued and become a liquid asset."

Frankly I had discounted the stake in Elephant having much value but this tweet suggests otherwise:

[the skipper] 02/3/2022 20:27

Am surprised there’s been no comment on the Investor Meet session today. It was largely about the recent presentation and addressing the value disconnect between where the various projects sit on the Lassonde curve and the current market cap. Next step is to build on the diamond drilling at Bibemi with RC drilling which will provide a greater volume of samples at lower cost.

They were very bullish about the Central license package with its crustal structure and potential for orogenic and epithermal deposits. It is very accessible by both road and air and therefore likely to be of interest to majors and mid tier miners. ORR efectively control the whole of this district as the other areas have protected status where mining would not be permitted. Results of stream sampling here should be available before the end of Q1.

In Senegal, they said that Fare South has stand alone mine potential but drilling will now move to the north of it with infill drilling and it was stated that this should mean that the inferred and indicated resources in the existing JORC resource should move into the measured category.

They said that cash realisation on the non operated assets was ongoing and now anticipate that the Turkish court cases will be resolved by agreement rather than go all the way to court hearings. They have also been 'renting out' the Turkish team to help develop the assets which have been farmed out.

I asked a question about forming a strategic alliance with a major or mid tier for the Central license package in Cameroon and TL said that was exactly the plan. Someone else asked about the the need to raise cash and the FD pointed out that the cash position would be apparent when the year end results are issued shortly (24th March last year).

Another question asked what near term catalysts might come into play and Bob Smeeton said that they had to remain flexible but if an offer came in for ORR's share of Senala they would have to look at it. Not sure if that was a subtle hint or not.

[aimbagger] 01/3/2022 08:34

Premiums wanted. Looking primed for a move again now. Big breakout this time?

[observer007] 01/3/2022 08:08

Getting harder to buy in any size.

They seem confident about the upcoming data from the Central Cameroon Licences, no wonder buyers are returning ahead of upcoming news.

[flughafen17] 28/2/2022 08:24

Looks ready for a move, it ran up to .46p in January, hard to believe this was 1.95p twelve months ago.

[observer007] 28/2/2022 08:09

They are conducting a live presentation on Wednesday here is the link, I strongly suspect some news will be forthcoming either tomorrow or Wednesday.

[observer007] 27/2/2022 09:49

There is almost certainly news to come this week IMO, probably about the central licence package in Cameroon which has been telegraphed in a prior media event to be worth waiting for.

I really would not be surprised to see something unexpected ahead now they have secured Iamgold for another 2 years as JV partner in Senegal.

The model has always been to bring in a JV partner for large scale projects, maybe this will happen in Cameroon, potentially imminently.

Buyers were nibbling away here late on Friday

[the skipper] 26/2/2022 13:29

Seems that we are going to get some news here next week as the Investor Meet platform has just notified me about the following event:
ORIOLE RESOURCES PLC
Corporate Update
2nd Mar 2022 at 4:00pm GMT

The title suggests to me that we are going to have some news about the assets which have been farmed out and/or the Turkish Court case. You will need to register with the Investor Meet platform if you wish to tune in.

[luckyabbeygale] 24/2/2022 06:59

Huge day here thanks to gold being up over 33 points.

[yasxii] 23/2/2022 15:12

Oriole could be sitting on a nice investment, did not realise they had a holding in Elephant Oil.



Might be worth £1m+ to ORR

Red Rock (RRR) seem to think they will be in for a major cash windfall as well, they draw attention to a nearby Co having a value of, wait for it, $1.1 billion.

[meanreverter] 22/2/2022 16:23

Thanks, Skipper — very informative article.

[the skipper] 21/2/2022 15:17

It’s ridiculous and those who are selling or thinking about it would be wise to reflect on this article:

[aimbagger] 21/2/2022 13:08

Amazed at the lack of interest in Oriole. This mornings news is hugely significant for a £7M cap co. IAMGOLD confirming they wish to trigger the 2nd option of the agreement to increase their interest in Sanala spending another $4M.

[the skipper] 21/2/2022 09:26

And another RNS. Here’s a direct link to the presentation showing where we currently stand on the Lassonde curve:

The pyramid at slide 6 is also very interesting.

[the skipper] 21/2/2022 09:09

Indeed, and with gold breaking above the $1900 resistance last night what’s not to like?
Unsurprisingly it’s pulled back a bit to retest the breakout but is already on its way back up again:

[luckyabbeygale] 21/2/2022 08:57

Sellers all cleared now. Blue sky's ahead.

[the skipper] 21/2/2022 08:35

Excellent news to wake up to on this otherwise miserable Monday morning with some coverage on Proactive already:

This removes any worries about ORR having to tap the market for cash and with the final results due next month I am expecting a further update on the non operated assets and the court case in Turkey. Progress in Djibouti should be particularly interesting with a lot of cash being thrown at it by AMED.

Onwards and upwards.