Oriole Resources Share Discussion Threads

[geotrav] 20/6/2022 08:41

So funny that so many sit on this BB simply to bag ORR… if you think its that bad, why are you here? Don’t you have a life?

Or are you pushing it down to buy in cheap…

[flughafen17] 19/6/2022 08:39

Interesting tweet

[shooter mcgavin] 18/6/2022 19:18

Day trading telegram group - Bulls & Bears welcome

[thecoyone] 18/6/2022 07:03

Oh and one last thing, after 4.5 years in position the entire Board (of 5) only hold 1.3% of the company.

In the same period they have taken a conservative £1.5m out in salaries.

Now who are the shrewd ones !

So popular are Oriole in the investment community there is not one 3%+ holder on the register.

[thecoyone] 18/6/2022 06:55

PVR 35% placing discount to raise £1.5m


The days of penal placing discounts have started, PVR yesterday raised £1.5m at a 35% discount and had to give 1 for 1 warrants at the same price.

If ORR wants to raise £1.5m vis a vis they would need to issue at .14p add a further 1.1b shares and potentially the same number of warrants.



Back in 2008/09 many juniors had no option but dilute existing equity holders out of sight, 1/100 1/200 share consolidations followed to hide the billions of new shares wiping out minnow small investors who held at that time.

Something to think over.

[thecoyone] 17/6/2022 14:59

Some investors fail to understand the true reality of a full scale bear market, companies like Oriole must raise via equity but if the market is not forthcoming what then ?

Remember the woeful stock performance under Livesey has been in a relative period of market strength from 2018 to Q1 2021 many minnows were at all time highs, except Oriole.

If ORR shares underperform in a bull market what will happen in a bear market, will Livesey & Co raise cash via death spiral or at a 40% discount to the market price, you bet they will to keep the salaries coming in.

Shareholders are cannon fodder here and always have been.

[geotrav] 17/6/2022 06:08

Charts don’t really work for stocks like this, it’s usually driven more by specific projects and news flow.

[highly geared] 16/6/2022 22:25

Chart says Oriole is dead in the water.

[flughafen17] 16/6/2022 22:17

I noticed this tweet tonight, it seems juniors may struggle to get funding away at any price in current circumstances, ORR's future may well be at risk as could other exploration juniors who rely on regular placings to survive.

Could we start seeing the death spiral form of funding again ?

[tightfist] 15/6/2022 08:14

Well said Tadtech, there are a few other salient points. .The unseemly haste with which the Stratex CEO sold-out our largest JV position in Turkey at a knock-down price, Mr Engelbrect's proposed merger share remuneration - IIRC it almost almost the entire market cap of Stratex, Mr Engelbrecht dual-listed Crusader on the LSE before it got delisted (and presumably gullible PI's got shafted), and the murky role of the advisors Hannan, IIRC in both transactions. Not to mention the complicit role of chairman Addison..Hopefully ORR can soon realise some value from the legacy STI assets, but the current market is woeful as all know. tightfist

[thecoyone] 15/6/2022 07:18

The market has no interest in Oriole, their projects are far to long winded and designed to drain cash from shareholders.

The model at Dalafin/Senala in Senegal shows the above clearly. The company has been in country for nearly 10 years, Stratex spent £6m and now Iamgold has spent another £3m, this project has added no value to shareholders to date.

Now bring forth Cameroon, same model but larger in scale, however did anyone realize they have to renew the three licences every 2 years and rescind 50% of same each time, that could leave them a very very small bundle in due course, where is the money coming from ?

[geotrav] 10/6/2022 14:40

Seems the Minister is a supporter - big delegation at Bibemi according to Twitter

[geotrav] 09/6/2022 18:01

Too funny !!!

[flughafen17] 09/6/2022 14:56

Goodness knows how they are going to get the next fundraise away and at what price, the way this has dropped one could envisage 750m new shares priced around .20p within a few months to raise the usual £1.5m.

They talked about starting to arrange the drilling programmes in Cameroon recently so a funding must be in their thoughts.

Remember, despite what they say about cutting costs, salaries and general expenses must be closing in on £700k per annum.

No wonder this company is getting a wide berth by traders.

[geotrav] 02/6/2022 14:21

The current management and board were not even engaged when all this happened, they’ve been picking up the pieces ever since, yet you seem to want to blame them somehow for the crash? They only joined through 2018, after Engelbrechr was let go.

Odd…

[tadtech] 02/6/2022 09:15

This chart shows the decline in value since Mr Englebrecht was appointed on 1st September 2016, the shares were 1.9p on that day and rallied somewhat weeks after.

By requisition RNS day the share price had already dropped to 1.15p - a 40% drop under Englebrecht's tenure, market not happy about the proposed Crusader deal.

Between requisition RNS day and the meeting NO VALUE was lost, the share price stayed in a 1.1p to 1.2p range.

The company re-appointed the ex CEO (Bob Foster) as a stand in from November 2017 to end February 2018.

On March 1st 2018 Tim Livesey was appointed, the share price was .95p but never rallied, the rest is history, the shares are now .24p - a loss of 75% under his tenure.

These posts hopefully demonstrate the loss of shareholder value was NOT caused by the shareholder requisition as some will have you believe.

[tadtech] 02/6/2022 08:44

The company line has always been that it was the shareholder requisition in 2017 that destroyed value, not so.

The loss of shareholder value was caused by the disastrous reign of Marcus Englebrecht who wanted to acquire a near bankrupt ASX listed exploration company for £32m payable in 2 billion new Stratex shares, it would have left existing shareholders with only 19% of the company had the deal progressed.

Management has never ever accepted the deal was a lousy one, the directors of that company (Crusader Resources) would have all been retained on combined salaries of around £1.2m.

Such were Crusader's financial woes Stratex had to loan them around £1.5m, when the deal was voted down by STI shareholders, Englebrecht removed from the BOD, their market value fell to circa £5m as their shares collapsed to 7c, a far cry from £32m.

Eventually Crusader had to sell one of their two gold projects for a mere £300k, clear clarification that the proposed deal significantly overvalued the target.

The twist turned further as once Mr Englebrecht was removed from Stratex he joined Crusader (the target company) as CEO, he failed again, their shareholders called requisition meeting - he was removed.

In conclusion the proposed deal was poor, management has defended the acquisition to the hilt blaming Stratex shareholders for the loss of value, not true.

[observer007] 01/6/2022 19:16

In my view the market has majorly punished the company for failure to deliver on claims made over the legacy assets, this failure has lead to significant dilution since.

The BOD suggested there would be asset sales early into their reign, they also said that they expected to recover cash (was it $2m) from the Turkish legal claims, nothing has happened except they sold the Tembo Gold shares for £170,000 when 18 months later the stake could have been sold for £1m+

To add fuel to the fire the CFO then made a extraordinary statement recently concerning dilution, he feels this is not an issue, well it may not be an issue for him but it sure as heck is to the shareholders.

Equity raise discounts are penal currently, as much as 20% to 30%, some of this discount may be factored in to ORR share price, we will see.

[jackbal] 01/6/2022 18:44

Any business forced to sell such a large chunks of itself at ever decreasing prices is failing I don’t care what the sector they are in.

You either don’t understand equites or are pretending not to