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Oriole Resources Plc

-0.005 (-2.63%)
Share Name Share Symbol Market Type Share ISIN Share Description
Oriole Resources Plc LSE:ORR London Ordinary Share GB00B0T29327 ORD 0.1P
  Price Change % Change Share Price Shares Traded Last Trade
  -0.005 -2.63% 0.185 2,702,607 15:21:43
Bid Price Offer Price High Price Low Price Open Price
0.18 0.19 0.19 0.185 0.19
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Gold Ores 0.12 -1.62 -0.10 - 3.69
Last Trade Time Trade Type Trade Size Trade Price Currency
15:57:16 O 83,142 0.1803 GBX

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Date Time Title Posts
25/5/202312:22Oriole Resources4,394
14/1/202109:50Oriole Resources24
29/10/201815:18ORIOLE RESOURCES > 2018 > Exciting Times Ahead > Projects > Investments > Gold 72
08/6/200107:41Oriental directors1

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Oriole Resources (ORR) Most Recent Trades

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Posted at 05/4/2023 22:24 by observer007
This was posted on the other site tonight, no wonder Oriole shares are rising if they can do a deal like this, ORR management are seeking a JV partner.


Posts: 3,048

Price: 0.125

No Opinion

Peer company deal with Barrack

Today 20:44

A reminder of details on the Tembo (then a $3m m/cap company) and Barrack deal, Barrack bought 6 unexplored licences from Tembo Gold in Tanzania for a potential value of $60m


The interesting aspect was that NO gold had been discovered on these licences.

Tembo received $6m in cash
Barrack to spend $9m on exploration
Tembo to receive a maximum of $45m in staged payments if gold was discovered above 1m ounces in any category of resource.

Tembo shares 7 bagged on this news - this is the kind of deal I expect ORR to deliver in Cameroon except ORR has 9 licences in the Central Licence Package and are applying for another.

Given this peer deal (which was completed in late 2021 when markets were poor) one simply cannot understand how Oriole can only be valued at £3m.

If this deal was replicated where would ORR shares trade, I would expect 1p to be attained comfortably giving a market value of circa £27m but given the volatility on AIM (where everything over/under shoots 2p a share is entirely possible.

This is why I have been building a position !!

Posted at 04/4/2023 16:02 by observer007
The gold price has gone ballistic today, everyone keeps talking about the tide will turn sharply upwards for minnows like ORR.

The last time gold was north of $2000 ORR shares were above 1p if I recall correctly.

Posted at 17/3/2023 12:25 by flughafen17
This was posted at the other site today, the poster seems pretty clued up on affairs, is this the time to buy in anticipation of a JV deal?

Corporate activity Today 09:17

I have not posted for a while, reading the Annual Report I feel there has finally been a recognition from the company that the market is pricing in placings and this is destroying the value that they have created both in Senegal and Cameroon.

I think the above is a major see change from the, dare I say, arrogance of previous interviews where it was suggested they know best and dilution was not an issue.

Another aspect is, finally, they have openly stated they are seeking a JV partner for Cameroon, that funding at project level is now the preferred option as opposed to equity dilution. I think this a material change of policy, much needed, the market, so far, has not latched on.

It has been a month since they stated they had discussions with 10+ major mining groups about Cameroon, recent vibes from Eileen Carr imply they are working on corporate activity which could mean a JV.

Any JV deal would usually come with cash up front, often covers historic spend, in ORR's case around £4m for Cameroon, the JV partner would then pay for exploration spend for a stake percentage.

I still maintain that a JV announcement must be reasonably imminent, why you may ask, simply because as drilling season approaches ORR needs money and they have more or less implied it will not come via equity.

I have been buying ORR at current levels whilst it is quiet, a good example of what might come is the deal Tembo Gold progressed with African Barrack, at the time Tembo was valued at only $3m the deal propelled the market cap 10 fold, Tembo had links to Stratex directors, they probably are still in contact with ORR - I suspect AB are favourites as ORR JV partners therefore.

Here is the Tembo RNS that brought Barrack into the project


At some point ORR will deliver significant upside, this time around they have to deliver a JV deal as they have no real alternative, as I say a see change in policy, much welcomed.

Posted at 16/2/2023 07:14 by flughafen17
Interesting post on LSE, if it all happens happy days ahead here.....


For what it is worth I fully believe there will be a JV announcement in the relative near term, the reason being ORR have openly admitted for the first time they are seeking one for Cameroon. Clearly if they announce a JV it will be a game changer for the shareholders as it will end the dilution spiral.

I also expect ORR to sell their remaining stake in Senegal/Senala, the JV ends in March next year, by then the new owners Managem will own circa 70%, the minority position held by Oriole would be a nuisance to the major - I expect a deal where Managem will buy ORR out, historic spend by Stratex/Oriole is circa £7m - ORR would then retain a NSR interest. This potential scenario has been discussed in historic presentations by Tim Livesey (the CEO) - it is not without foundation.

In between these potential deals the Muratdere EIA will be announced, this will enable a sale of their royalty for $1.5m-$2m - the expected £400k tax rebate should come in April, or sooner !

In conclusion I see significant upside ahead, this is probably why the BOD have been happy to be paid a portion of salary in shares, I do not expect to see any more dilution if the above pans out - there is nothing in the valuation to account for corporate action at all.

With 2.7b shares in issue Oriole are valued at a mere £3.7m - if they can sell 30% of Senala for £6m-£7m (recover historic spend) + recover spend in Cameroon (circa £4m) cash inflow over the next 12-18 months could amount to circa £10m alone.

I have been building a position accordingly, the shares are in the gutter, but not for much longer.

DYOR etc.

Posted at 08/2/2023 09:12 by silverspoon2009
Not into spread betting or cfd's, only use a couple of online brokers, both are not offering a fixed price quote in ORR currently.

I suspect they are filling an order and they will move the bid/offer in due course, if I remember correctly this happened ahead of the last spike up in the share price.

AIM is a strange market.

Posted at 01/2/2023 11:28 by observer007
There appears to be utter despair over on the LSE BB where there is more traffic - the main crux of the matter appears to be ORR management policy of dilution and project longevity.

You have to say they have a point, whilst all juniors have been hit ORR is by far one of the worst, down 90% from it's 2021 high.

No CFO will bleed the bank dry before re-replenishment so they have to be considering options on a fund raise, this probably explains the share price weakness.

Sentiment here appears to be at an all time low.

Posted at 01/2/2023 08:46 by thecoyone
This is a classic example to new investors entering the sector, NEVER EVER invest in a mining junior run by geologists.

The only policy here is to keep the salary/benefits gravy train running, by the CFO's own admission dilution of equity holders is of no concern.

The treasury is running dry again, current placing discounts are penal, if the share price drops much more they will have to call a GM to raise below par value (.10p) - a capital reorganisation looks more likely with every notch lower.

Back in 2017 the share price was 2.5p it is now .13p.

Oh BTW I bet they are shortly swanning off to Mining Indaba in South Africa, they visit most years but nothing ever comes out of it, a nice ego trip nonetheless.

Posted at 30/1/2023 16:15 by observer007
The concern seems to be about the cash position - once again - they raised around £550k net in October so the bank must be running dry again.

The company has previously needed £1.2m to £1.65m to pursue drilling activity in the Cameroon, clearly that is unattainable at the current share price without hideous dilution.

I fear the market is running out of patience with Oriole, the share price is slipping away which makes any fund raise nigh impossible given that recent placings have hideous discounts in the sector.

They have diluted many times but surely they would not issue 1 billion new shares to raise £1m would they ?

Posted at 10/11/2022 09:29 by observer007
The multi bag rise to around 2p in February 2021 was generated on takeover activity in Senegal with a number of licences being acquired by majors for $100's of millions.

Barrack have been building ground close to ORR and speculation on Hotcopper suggests that nearby Chesser Resources could be bought out.

One wonders how committed Iamgold (ORR's JV partner) are in country, Barrack have recently acquired a JV from them in location, if Barrack are building their licence ground they would not want a minnow like ORR involved, so ORR's stake is worth MUCH more than the entire market valuation of £3.5m IMO.

Now funded for some time I expect ORR's share price to recover, worth noting that minnow Chesser are still valued at £20m, their ground in Senegal is 5 times smaller than Orioles !

Posted at 01/6/2022 20:16 by observer007
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.

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