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Of course Lanstead have sold a significant number of shares, where has circa 1.7b of volume come from since their last declaration (end December) They would have only had to sell 47m shares to go below 20% crossing a threshold.
The reason investors want to know is because if they have oversold their holding it will mean they are less able to manipulate the SP moving forward - I strongly suspect this is the case and why they have not declared. I think the market is now telling you they are in a pickle and are probably powerless to 'control' the share price like previously.
I am sticking my neck out to suggest they have probably sold half of their position (circa 500m shares) in around 7 months, that means they have less ammunition over the remaining 16 months, as such strong volume could really take them to the cleaners.
The market sniffs blood, the share price is poised for a very strong move IMO.
0.30/34
atm
Without wanting to state the obvious, perhaps Lanstead have not issued a TR1 because they have not sold a notifiable amount. Maybe they too have faith in where this is going to go in terms of a massive increase in the SP.
Don't get me wrong, I also have been sceptical of the wisdom in signing up with Lanstead but as has already been said then things were pretty diabolical most of last year after our much revered Eileen invested significantly.
Anyway, Tim, Bob , Claire and Eileen seem to have this sorted.
GLALTH
@Wolfie because there are rules around transparency for reporting material changes within a company. So why should Lanstead be allowed to abuse this and be less transparent. Ultimately, I find when an organization doesn't follow the rules then they often have something to hide!
Also wouldn't you find it useful to know if Lanstead had gotten down to 15% or 10% of their holding in the company left. Or alternatively it would be also interesting to know if they were sitting at 19.99% suggesting that they hadn't really been selling since December 28.
L‘m also now fairly comfortable with the Lanstead deal, especially when reflecting on where we are now and where we were when it was arranged. Without making any judgement on how the company got there, the situation early last autumn was pretty grim. Funds dwindling despite Eileen’s lifeline, exploration grinding to a halt, director salary sacrifices, no sign of the JVs and project level funding that had provided some optimism in the spring… other than the Canadian investment bank circling overhead looking for a bargain. A conventional placing would likely have been at a terrible discount, and rumours were that the company had tried and failed to arrange one. Potential partners no doubt concerned about topco funding. So, a deal was done. Substantial dilution and a long term net seller (of course Lanstead could, like most of us, have become increasing upbeat about the ORR story and may hold some of their shares for a longer term). But the company survived, which it might not have done, and is a big step closer to unlocking potential value, which could be considerable. Good news was required to make the deal work and the good news flow has begun. The higher the share price goes the better the deal is for Oriole, Lanstead… and us. My opinion anyway.
Hunniford.
With respect, why are you concerned at how many shares Lanstead are or aren't selling. It won't change their obligations to make payments to Oriole monthly, based on the sp at that time.
If they choose to sell more or less each month they are taking a risk of being caught out. If they sell more than the agreement and the sp rises significantly, they will come unstuck.
Ultimately, good news will bring volume and that will raise the sp.
Many of us believe Lanstead has not been duly notifying the market of their material change of holdings. So if you want to report this to the FCA here is the link to report it under:
https://www.fca.org.uk/market-abuse-reporting-form
Also here is some text with info that could be used but feel free to use your own. If you do believe they have sold more shares equivalent to more than 1% change of their remaining holdings since the last TR1 of 28 Dec then you should report this.
--------------------------------
On 1st August 2023, Oriole Resources (ORR) announced through an RNS that they had entered into a Subscription and Share Agreement with Lanstead Capital Investors L.P. ("Lanstead"). This agreement involved a subscription for 930,000,000 new Ordinary Shares, referred to as the "Lanstead Subscription Shares," at an issue price of 0.19 pence each, aiming to raise £1,767,000, known as the "Lanstead Subscription." Additionally, Lanstead was issued 83,700,000 new Ordinary Shares. Immediately following the subscription's completion, Lanstead's stake in the company increased to 26.23%, representing 1,013,700,000 shares.
A TR1 notification was released on 19th December, indicating that Lanstead's ownership had decreased from 26.23% to 23.26%. Another TR1, issued on 28th December, showed a further decrease from 23.26% to 20.99%. Since these notifications, no additional TR1s have been issued to report any significant changes in Lanstead's holdings in ORR. Despite this, the daily share volumes often indicate an unusually high number of sales that does not correlate to news information flowing from the company, suggesting that Lanstead probably have sold additional shares without providing the required reporting of a significant change in ownership.
I suspect Lanstead of not adhering to the necessary transparency and reporting obligations. I urge the market abuse team to investigate Lanstead's conduct and remind them of their reporting obligations including the timing of when they should inform the market.
You just feel it is going to breakout and when it does !
Blue
*locked
I’m not worried about the Lanstead deal anymore and believe this could be a stroke of genius by the team. Remember they are looked in for another 18 months or so. If they’ve oversold their shares they could be exposed….
I’m confident the share price right now is similar to a coiled spring. Hardly any volume today and I don’t think the red tells the truth here of what’s really going on or about to…. If you believe load up! I certainly have been.
Tim recently reported further results anticipated early Q2, new tax ISA year about to start, Gold price going up, lots of news to come. What not to like!? Surely the market will wake up to this any moment.
GLA , come on Oriole!
It's got me baffled,the mm's book as been positive,90% of this week,so far
we should be well up?
I will place a bet that Lanstead have sold far more shares than they would usually have done at this stage in the agreement, that is why they refuse to TR1, if they did notify and it showed they had sold a further 250m/300m shares it would encourage the bulls, the last thing they want.
I cannot think of any agreement with a AIM company where Lanstead actually have to pay more than the monthly base price (in this case £72k a month) over recent times, it really is unique.
I think without their 'involvement' the share price would be well above .50p now, that is why I believe it is bordering on market abuse they have not declared their position, what can one do, well the only avenue is to pressure ORR to remind them or report them to the FCA.
The sheer weight of the gold price rise will eventually pressure the share price higher regardless IMO.
How in Gods name has this finished red?
I can not remember a day with no Lanstead sale. Is the fact they never sold any today another reason for a re-rate?
Also gold increasing even more if another one too.
Atm
Suggested a run back to the .40p region looked on, very hard to buy online currently, the market makers playing with the SP again, same scenario that took the price through .50p in January, the RSI is still in neutral territory so all the ingredients are there for a strong move.
ORR tweet moments ago..
https://x.com/OrioleResources/status/1775142518557982756?s=20
Blue
0.29 paid there.
With gold hitting $2260 over the holiday period I can see the junior sector bouncing strongly, stocks like ORR could be one of the major winners with no fear of placings and well funded, if, as I suspect, Lanstead have used up a lot of ammunition to try and hold the price around .25p then that just adds to the prospective upside.
My view is ORR shares will outperform other juniors due their strong position + upcoming news-flow, the floor is in here, grab as many as you can IMO.
Good interview but skirting around the rules with TR1’s major holders have to adhere to 🙄
Just broke resistance kutzzz
Todays RNS was a great read and hopefully we’ll get some price moving news soon.
With regards to Lanstead I think my post yesterday was too rambling to make my point - ORR told us that Lanstead’s interests are aligned with theirs, and ours. I’ve recently spent quite a bit of time looking at this and as far as I can make out that is true and there isn’t an incentive for them to suppress the share price. The agreement is stacked in their favour and the higher the share price the more money they can make, even after making the associated higher monthly payment to ORR. They always have to keep enough shares to cover future monthly payments, so can't get too far ahead of themselves with selling down their holding. Of course they are a large net seller which is a drag, especially if they sell when buying volume is low, but I’m now fairly sure they’re not deliberately holding the share price back. Can’t explain the recent share price movement though but I suspects its just general market malaise, lack of substantial news and MMs doing what MMs do etc. Just my view and Lanstead could indeed be the villain.
100% Hawaii
Landstead v SH is a war of attrition, but we’ll get there folks. Every share sold is one less they hold! We’ve all held the line and no way i’ll be selling out now!
My heart goes out to all those SH’s who have suffered in other stocks. It is a total bloodbath out there and sadly it’ll continue.
This blood letting will leave only the strongest stocks standing, and with ORR fully financed up and news outstanding on multiple fronts that have the potential to be revenue generating news. I’m very content with my money in this share.
100% agree Hawaii. in over 10 years of losing money, right now is the pits...there's so much fear out there, even CEO's have no scruples, they were bad, but now they are sailing close to fraud...lies and lies in RNS. ORR is a safe haven...they actually care about us. Have to laugh I began this year expecting great things from CIZ, TM1, OBD, QBT, ALGW, ENET...oh boy and it's only March,