Oriole Resources Share Discussion Threads

[terminator101] 19/4/2022 14:08

Not so good huh rampers. Can ya guess what's coming next after they have voted for increased authority to issue even more shares?

[geotrav] 19/4/2022 13:46

No, they’re happy with the progress in Cameroon… they said they expect it to rise as they advance

[nico115] 19/4/2022 13:17

They are happy with the mkt cap even though the shares are down 30pct from recent placing price I personally thought the call was a shambles

[observer007] 19/4/2022 12:11

Just listened in to the live Q&A session ahead of the AGM next week, where they seek authority to issue more shares, a number of questions from obviously disgruntled shareholders who are most likely out of pocket.

Based on the replies it seems the policy remains a dilute and explore one, no obvious near term value event in the making either, the BOD are happy with their performance over the last 4 years - so there we are.

The podcast will be uploaded shortly for anyone to view.

[highly geared] 18/4/2022 12:38

It needs a sea change in sentiment for junior gold exploration to get ORR going. With gold at nearly $2000 it’s a little surprising the sector is in the doldrums. In ORR’s case, they need a decent JORC out of Senala or Bibemi to change things. Otherwise shareholders continue to be diluted over the next 5 years as they spend £5-10 million trying to drill up a defined resource..

[the skipper] 17/4/2022 22:23

Well let’s look at the facts shall we?

The annual report informs us that they had as near as damnit £1.5m in cash and cash equivalents at 31/12/2021.


Add on the recently received tax credit of £403k, plus upwards of £500k probably coming in from the sale of the Elephant Oil shares. That provides a figure of around £2.403m from which salaries and overheads amounting to around £132k by the end of April should be deducted together with the cost of any exploration expenditure. The only item which seems to have been undertaken during the current calendar year is a ground magnetics programme at Bibemi so let’s allow £100k for that - which still leaves around £2.17m in the coffers. However in the recent presentation there is clear reference to cash realisation across the portfolio being ongoing with discussions underway on a number of non-core assets and also the likelihood of a cash settlement of the Turkish litigation. I would therefore submit that if that brings in another few hundred grand that they have enough resources to initiate a further drilling programme in Cameroon this year.

I expect to hear a lot more about their plans going forward in the pre AGM statement to be issued on Tuesday and the Investor Meet event taking place on the same day. If you want to take part make sure you have registered via the Investor Meet platform.

[observer007] 17/4/2022 08:31

Under the old Stratex management there were hardly any share issues but it is fair to say that since the new team, led by Tim Livesey, have taken over in 2018 they have issued 1.5b shares to take the count to 2b

They need to demonstrate they can fund exploration by other means, issuing 500m shares at any price annually is not the answer.

So yes in a way the above post does apply to ORR until management prove otherwise.

[thecoyone] 16/4/2022 20:16

How to turn £1000 investment into £14 - this is the ORR 'model' maybe this should be shown to the CFO who seems to think dilution is not an issue.

[nico115] 12/4/2022 14:05

Gold 1970 Orr should Be 0.5

[the skipper] 12/4/2022 09:31

So another £403k in the bank plus upwards of £500k probably coming in from the sale of the Elephant Oil shares. Together with cash in treasury that should be more than enough to fund another drilling campaign in Cameroon imo, with some cash also likely to emerge from the legacy assets later in the year.

Terminator will not be happy this morning…..

[geotrav] 12/4/2022 06:15

Covid. Started in March 2020, when ALL staff apparently took a reduced salary for a few months, directors and management taking the highest % reduction, as one would expect from a management team which leads by example.

If you’re trying to re-ramp you really should read the reports and get your facts straight.

Not Glencore, but quality management who are putting their time and focus on this company rather than any other, which should tell you something.

Compare the salary bill to 2017 before they joined…

[terminator101] 11/4/2022 18:05

2020 salary bill £352k2021 salary bill £395kBut I'm sure the rampers can justify why any Director in this underperforming non revenue generating minnow should be paid more than 6 figures. It's hardly glencore.

[terminator101] 11/4/2022 07:15

Hardy desparate mate, I've only made a dozen or so post in over a year, unlike the perma rampers. Oh and I suggest you look at the accounts mate, because that would show clearly the salary increase last year.

[geotrav] 11/4/2022 07:10

Desperation is not a good look Terminator…

Salaries have not increased in 4 years.

It’s a junior explorer - raise and spend is what they do, thankfully the spend is wise, cautious and very productive - with increased land holdings, increased positive gold anomalies, continued success on drillouts.

I guess you’re desperate to force the price down as you’re massively shorted on this stock?

[terminator101] 11/4/2022 05:48

Morning rampers, how is this non revenue generating dog? The only 100% certainty is that they will do even more placings, that's why they say that all the way through their annual report (material uncertainty related to a going concern) and its also why they are increasing their authority to issue even more shares. I do like how the Directors increase their already overpaid 6 figure salaries. £7 million market cap is way overvalued for this cash hungry dog, at even half that market cap it would still look expensive.

[the skipper] 06/4/2022 14:55

FWIW the 2 x 2.5m ‘sells’ just now are a bed and ISA of a proportion of my holding. Onwards and upwards from here I hope.

[observer007] 06/4/2022 09:39

Sentiment is turning for Oriole, it does not take much to move this fast, even at 1p the m/cap would be under £20m

[broken_arrow1] 06/4/2022 09:21

They want a large premium (.3725p) for just 1m shares currently, nothing available online with most retail brokers either.

Looks like it is going to move up.

[aussiebeach] 06/4/2022 08:55

Looks like this could be the reason for the excitement and increasing volume, another new gold mine planned near to ORR in Senegal.

From LSE...



Chesser Resources recently reported outstanding economics for their Diamba Sud Gold Project in northern Senegal, close to ORR's Fare licence area.

The pre tax NPV was $402m but most interestingly project payback was only 15 months with a 7.5 year mine life, resource upside could extend the project well beyond that time frame via further exploration.

This is a very significant statement and shows that ORR are quite literally sitting on a new prospective gold mine at Fare via Chesser in the north and Boto via Iamgold in the south - once again it shows the chronic undervaluation of Oriole compared to peers, any gold discovered on the their Senala licence could be trucked to these mines.

The news concerning Chesser seems to have gone un-noticed but it is material and has economic benefits to ORR.

No wonder ORR shares are starting to move up, still a long way to go though, the circa £6m m/cap is ridiculous.

[nico115] 05/4/2022 17:59

That patviera on twitter is bloody shrewd He likes orr : )

[dogsoggy36] 05/4/2022 12:18

Nice to see some better days for ORR.Certainly many opportunities for buyers to get in while its super cheap.Got great potential plus a fantastic working team at ORR.Any new investors looking for something to buy then DYOR as it will continue to rise.

[the skipper] 04/4/2022 15:30

Wednesday is going to be a busy day here with bed and ISA’s imho, thus adding to steadily increasing volume and liquidity. The latter makes the stock much more attractive as an investment.

[aussiebeach] 04/4/2022 14:12

Now just £3k (1m shares) sitting on the offer before another move up, new tax year starts Wednesday there could be a rush of ISA cash hitting ORR given it's so cheap.