Oriole Resources Share Discussion Threads

[geotrav] 01/6/2022 17:59

people bagging this stock who have hidden agendas…

[geotrav] 01/6/2022 17:57

Sprott, Blackrock both exited on the back of the failed requisition in 2017…

The requisition is what brought the company to its knees and the current board and management have been rebuilding from a crash point. They’ve added some remarkable new assets, and yes they dilute - it’s a junior explorer, that’s what they do.

If you don’t understand the business why are you still invested in ORR?

[thecoyone] 31/5/2022 07:34

I see the dumping continues early doors with another 1.5m sell.

I posted this last year, it still stands, OK Iamgold has extended their JV but so what, it has added no value so far, the BOD will soon be diluting shareholders to the tune of another 500m+ shares.

There have been modest drilling results at projects and a tiny JORC declared in Senegal but that's it.



The new management team have delivered nothing material since they were installed in Q1 2018.

They have lost or diluted out of sight every institutional shareholder that the old BOD attracted which at one point included Sprott, Blackrock and Teck.

They have diluted every legacy Stratex shareholder into oblivion.

They have issued over 1.4 billion shares and will shortly issue 400m or 500m more.

They have not delivered any meaningful asset sale despite implying 2 years ago they would.

They have not had success in any legal case in Turkey despite assurances to the contrary.

They have delivered no meaningful share price growth, when the new CEO was appointed the share price was around 1p.

There is no exit policy or value generating event in the pipeline, they are totally dependant on Iamgold in Senegal who have no interest in promoting Senala, a statement made by Tim Livesey himself.

The project in Cameroon is extremely long term and hideously dilutive.

They have failed to deliver any meaningful new project despite suggesting they would in the cash raise RNS last October.

The business model looks flawed in today's environment, dilute and dilute some more in the hope of finding a resource, note it can take 5 to 7 years to develop a meaningful saleable resource.

The market will not re-rate this company until the new BOD can deliver a meaningful value event but how ?

Long term shareholders like myself have lost a packet, the shares were once trading at 4p with only 450m in issue, even buyers over 1p have lost 50% of their capital in under 6 months.

Oriole is a company run by geologists for geologists.

One thing you can be sure of at Oriole ---> DILUTION

[terminator101] 30/5/2022 18:18

Bet they weren't happy that todays waffle didn't attract buyers. Seems that placing might be down at 0.15p or even lower.

[flughafen17] 30/5/2022 07:34

Make no mistake they will raise cash again shortly, worth noting the last 2 placings were carried out around September for about £1.5m.

If the share price holds at current levels shareholders can expect a further 600m-700m shares to add to the issued capital soon enough.

This is why volume has dried up and interest has waned.

A total avoid until the placing is out of the way IMO.

[geotrav] 29/5/2022 13:44

Thecoyone, Cameroon is wholly under ORR control, whereas the previous management of Stratex let Iamgold into the earn in at Senegal - very different situations.

Also, Cameroon is a very large / district scale play, where Senegal was a single licence - so again, very different.

To me it doesn’t seem that the current management like the deal they inherited on Senegal.

[thecoyone] 29/5/2022 07:44

Jackbai

You make a very good point about the longevity of the projects which seem deliberate, the market has no appetite for early stage explorers at the best of times let alone in the current risk off environment.

Oriole management are in a perfect position, pulling out £500,000 a year in salaries & perks. They know the projects will not return shareholder value for years and their options packages are not performance related.

If you want evidence of how flawed the business model is then look no further than the project in Senegal, this has been on the books for over 10 years, before the JV with Iamgold around £6m of shareholders funds were spent on exploration, in 6 years no JORC resource or value add, now Iamgold has spent another £3.5m.

Oriole have now cloned the Senegal model in Cameroon, this project is even more early stage, how much money will need to be spent, £5m to £10m is a real possibility, even then the returns to shareholders are likely to be negligible.

The market has seen through Oriole and it's management, no wonder the share price is in the gutter.

[jackbal] 19/5/2022 14:30

Quite frankly if they all left it couldn’t get much worse.
They have paid themselves handsomely at our expense.
Smiling smug Bob on 10k a month telling us we don’t understand dilution and that it doesn’t matter paints a far more vivid picture than my criticism.

[jackbal] 19/5/2022 14:03

Geo your nonsense narrative is parallel to the bod’s. Co-incidence?
And do you mean taking role elsewhere like the one Tim just took at MTL or his previous one at ORM where the new bod ousted him?

[geotrav] 19/5/2022 13:35

Observer, yes there was an increase to Bay, but the rest have remained static since 2018 and have taken reductions during covid and shares in lieu at times as well.

For an incoming team, taking on the reigns of a disastrous company post the requisition 2017, I’d be surprised if anyone would have accepted less to be honest!

I wouldn’t have been surprised if the management had bailed off into higher paid roles before now, but they seem committed to Orr.

[observer007] 19/5/2022 12:56

There has definitely been a increase in salaries at Oriole, for this financial year it looks like salary and benefits will exceed £450,000 now they have promoted Claire Bay.

If you take listing costs and other corporate overheads it looks like around 50% of the last £1.5m cash raise goes into fees and remuneration.

Oriole, given their size, does appear to reward their executives at the high end of the AIM scale.

[geotrav] 19/5/2022 07:09

Another ‘informed commentator’ who cannot read the annual report…

Keep deramping, makes it cheaper for the rest of us to get on board!

[flughafen17] 19/5/2022 06:54

Nothing but a lifestyle company, no wonder the market has seen through the situation and values it accordingly, directors on £150,000 for what ?

Glad I got out at the last pump, what price the next placing ?

[jackbal] 18/5/2022 15:33

Touche Geo!
I’m not clever or skilful enough for all that, plus I wouldn’t buy at any price until I know the extent of the dilution.
As it stands 30% dilution would be welcome, at .2 it’s more like 40%
Until we can see the damage no point guessing what a good entry level is…

[geotrav] 18/5/2022 15:06

I do t care what the dilution is if the share price rises.
This is a junior with no income, dilution is a fact of life.
More interested in why holders are bagging it and pushing down the sp, perhaps to buy in bulk nice and cheap? Naughty, naughty!

[geotrav] 18/5/2022 15:04

I’m more worried about share price to be honest…!

[jackbal] 18/5/2022 14:43

Geo come on you can do better than that!
You’ve bought a ballon pump when a defibrillator is required

Be interested to see if you still don’t think dilution matters?

[dogsoggy36] 18/5/2022 14:42

Try this instead.http://wp-orioleresources-2020.s3.eu-west-2.amazonaws.com/media/2022/05/Shard-Capital-ORR-18-05-2022-Fare-option-R.pdf

[geotrav] 18/5/2022 14:37

hxxps://wp-orioleresources-2020.s3.eu-west-2.amazonaws.com/media/2022/05/Shard-Capital-ORR-18-05-2022-Fare-option-R.pdf

[broken_arrow1] 17/5/2022 11:05

2 year support broken today, the next support line is .19p reached on 23rd March 2020.

I saw a chart on Twitter recently of 50 juniors, ORR was the worst performing of all bar one (WRES now suspended pending clarification), high to low over the last 18 months, ORR was down 85% compared to a sector average of 51% down.