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Error. Last post.
Third sentence should be - Explorers plan the season ahead........
A generalisation not specific to Oriole.
Already had the placing for this year (oversubscribed for £1.75m) on the 20th September. Previous raising was in October'20. They plan the season ahead, get the money then off they go. All the on-site start-up costs were in last years budget, so this year is a repeat of last year with facilities/personnel/equipment already in place only the drill rig operator to fly in and therefore cheaper. All positive imo and probably why TL mentioned it.
While on the subject of positives and negatives, Capital Drilling, a top flight company who supply the rig, leave the rig on site or near-by during the rainy season thereby saving Oriole the cost of transport to and from wherever. Is this an indicator that CD are n't interested in revenue for this machine for 4 months of the year or is it an indicator and 'foot in the door' maybe, for what's to come and not only from Oriole?
Jackbal - totally agree. Beating the same old drum hasn’t worked all year and it starts to wear thin. Legacy assets, Turkish courts, potential, potential, potential hasn’t moved this SP. Yes it’s the current market sentiment which definitely doesn’t help but other shares have moved with good news.
“it’s the investors/market who don’t understand” I think everyone understands especially those deep in the red. nothing has gotten anyone excited, nothing of real value yet. Who cares if the market doesn’t understand or not, all people care about is share holder value and there is none of that here.
Touched on this before and don’t want to labour the point but the “perception” of the play changes if they are unable to raise additional funding with legacy assets.
The market doesn’t like the last confetti and a number of us bought into the play on basis there would be other funding options.
Keeping a very close eye on whether they can In fact get their hands on funds without pressing the placing button imo.
Stock can recover “if” the geo data is outstanding and “if” they don’t shower the market with another significant lump of shares at this sub 0.5 level but Tim isnt convincing some anymore.
I’m personally still willing to wait and see but don’t like it when I start hearing how “the market doesn’t understand” Tim really needs to put some value on the current no. of shares in issue.
Some more mildly encouraging data along with a request for another couple of million just won’t the stir the market.
Sorry for the negative slant as I’ve been very positive on the stock in the past but Tim’s rns yesterday was irritating as has the whiff of “I’ll need more money from investors before too long”
Legacy assets????
They've literally just had a hefty raise, so I don't think another one is on the cards here. There was a lot of buying just after that placing but it did little to move the share price. What I'm experiencing on AIM, and picking up from other bb/investors, is just what a difficult/terrible market it has been for most of this year, and particularly the explorers. I'm now in the camp that it probably doesn't matter what individual companies do/don't do, what they release/don't release, the market is just not responding right now. You would think this situation will change at some point and they do say that it's these periods that often represent buying opportunities, but who knows....
The update was explained in an interview, it’s to try and get across to old/new investors the potential of orioles licenses by comparing the scale (size) to other well known, developed areas already. Basically just trying to hammer home the ‘potential’ of oriole. Don’t worry mate, I’m £90k on this one.
How on earth can the MCAP here be under £10m? My average here is so high it makes my eyes water! Nearly £20k down.
Is the co presentation a prelude to a raise?
Any chances of a turnaround, or is it screwed?
Hi troajan,
I wonder how many is left to clear… seems like a big overhead at the moment. Just need that one piece of good news.
Not sure if you watched the interview with TL that was released this morning.
The corporate update was to emphasise to investors the huge potential from Cameroon and Senegal.
He was saying most investors don’t seem to recognise it. I think most of us here especially the long term holders realise the potential, hence why we are so heavily invested.
F1 this weekend. Can’t wait. Who are you backing Tro?
kutzz
low volumes?
and offloading placings,just keeps the sp,in the lower range
at some point,they'll be gone and the sp,should travel into an higher range..imo
History has a funny way of repeating itself hey cekim. Anyway, a news rich period coming up. Cameroon and Senegal in the next 3 months so…….
Surely not, another RNS and another drop.Who would have believed that.
I hear you professor. Seems like a big IF at the moment
Kutzz
If Cameroon shows up good, Orr will get into a different league. Let's hope that we get some good news on that front
These low volume swings only ever seem to work against us. Even though those buys equal the sells!?!?
Hopefully we get some Cameroon news before Christmas