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Have a look at what the neighbours are up to. https://www.chesserresources.com.au/projects/diamba-sud-100/
Chesser have about 700koz and a market CAP 5 times ours. OK they own 100% of their project in Senegal and we own 30% however look at all the surrounding projects they are all Barrick and IAMGOLD including Fare.
We're on that Northern Arc trend presumably that is why our partners are doing their widespread auger drilling on the Fare territory. Whilst we own 30% we already have a partner with processing assets in the vicinity so our time to a mine should be pretty quick once we have a sufficiently defined resource.
Plus a rough comparison with Chesser would imply our share price is almost half of theirs on a like for like basis calculated on the Fare resource alone. Is Chesser overvalued? Perhaps, but presumably IAMGOLD expect to add to the resource on Fare in this latest exploration plan so perhaps we are undervalued. Why else would they be paying to continue the exploration of Fare?
Occams razor/ If it's got webbed feet and it quacks then it's probably a duck.
IAMGOLD think so, Eileen thinks so too as does Beardozer.
Whilst nothing is certain yet It's difficult to bet against them being right.
GLA DYOR
eyups...blue
wonkeydonkey
ok cheers,i didnt really have a good read
kutzz
yeah,i dont blame people,i see this all the time on explorers,both oil/gas and miners
theyre a mare.
anyway,you know what ime going to say
buy on the dip.lol..which ime struggling,to keep up with.
a bounce,cant be far off
Research note out from Shard… seems bullish.
https://wp-orioleresources-2020.s3.eu-west-2.amazonaws.com/media/2022/05/Shard-Capital-ORR-18-05-2022-Fare-option-R.pdf
Troajan, I think what they mean is how they structure their ownership.
They’ve already started spending the next lot of cash ($4m to go over 2 years), so it doesn’t look like they’re walking away!
It doesn't make it much easier to swallow, but the rest of the market is suffering a similar fate, including companies with a lot more going for them than ORR. Sentiment is very poor, there isn't much good news out there re the global economy, POG has retraced its recent gains, and all the talks and signs are about a bear market.
There is simply no way that little old ORR is going to perform in this kind of market. We're going to have to wait until sentiment returns and can only hope that POG does make that run to $2400 that the gold bulls have forecast for H2 of 2022. That kind of macro environment should lift all boats, including this sinking one. All IMO
Well said indeed
Take care Kutzz
I’m signing out mate. I don’t care about the Bibemi’s results or these results. I’ll check in at the end of the year.
Looking at this just ****es me off and it’s no good for myself or you lot. Misery needs company and that’s probably why I vent here so much.
All the regulars are really sound and I hope you’re all still around when I check in next.
Take it easy,
Kutzzz
Jackbal - think I’ve said that and so has MTM.
I was up on this at one point as well. Never did I expect we would be down at these levels, approaching the teens with a placing lurking in the shadows.
BoD should pat themselves on the back though. Yeah the market sentiment is rubbish but this has outperformed everyone in the sector, I’d be happy if you stopped wasting time with Bibemi which so far has delivered average results and focus on Mbe.
I think they’re on modest 6 figure salaries, I wish I had a job where the outcome of my performance at work had no effect on my job and I earned that much.
Yeah fxxx it was a bad bet on my part. Should have walked away with the profits from the first pump.
Got greedy, lost my critical senses, my fault.
Leave it in the drawer where I put my lotto tickets and have a punt after the dilution occurs if I can buy below it.
I just wish Bod could acknowledge the failings as simply ignoring them or dismissing them leads to the SP action we are seeing and makes them look like idiots. Not a good look for custodians of our money.
How can you fix a problem (in this case the cap structure v funding requirement) if you don’t acknowledge it exists. Someone said doing the same thing over and over and expecting a different outcome is insanity.
Can’t remember who said it but it’s sums this up perfectly.
Haha f**king hell. Im done. What A wet firework but also this is a average update. Don’t expect much in the way of getting your usual grades for this. They are sampling two sections from each drill hole.
Usuall sub surface so down to 25m to test extension. Remember the whole AC drilling campaign and everyone expected blockbuster result and the whole point was to achieve something different with a different format for result, well this is the same.
Don’t expect any fireworks from Farè this year. Maybe A larger footprint but definitely no closer to defining a JORC.
9 trades on an RNS day shows the lack of interest.
The BoD must be as f.**led off with the SP as we are, they just can’t say that. No one wants to dilute the Shares by 30% but they have to appear to be upbeat.
This years spend at Farè is definitely not what I expected. I’m actually tuning out.
F**k ORR. Maybe in a few years I might get my money back.
cekim
my wholewatchlist,on the mining sector comps is the same m8,there's just no love there.
other than vast and it looks,like the uptrend,is well broken..atm
If they issued a RNS stating IAMGOLD refused to start this would drop 30%
wonkeydonkey
it wasnt really an sp moving rns m8.
so we'll just have to wait,for one,to come along.
iamgolds structure under revue?hmmmm,what does that mean,up their stake,or down their stake
Good news but as always the grades are underwhelming
Troajan, exactly my point. Good news, more free carried exploration, opportunity to expand footprints, nearology to the recent Chesser resource - all fairly positive if you ask me.