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Hopefully we get some good news. Q3 is usually a quiet period. We are lucky to have some Farè assays coming to keep this afloat otherwise it would be a lack lustre 3 months. I’ve know hit -£70k with the spread haha.
Tough times don’t last forever but tough people do.
I thought they would have got something out before the AGM but there we go. AGM tomorrow to see what they say e looking for a big sales pitch. Was looking at the assets in Djibouti (PANDORRA, HESDABA, ASSALEYTA) Oriole has a 12% interest in the company there. Looks like there could be some potential on that ground too. I note from their website it needs updated as results talk about 2020 updates and COVID delays so I'd like to see a bit more information coming out of there.
I think ORR would have to be desperately unlucky to get disappointing results from BOTH Cameroon and Senegal. Arguably, we only need positive results from one of these campaigns to see upside from here. I remember how keenly awaited the IAG results were last time round, and I would imagine it will be very similar this time round. IAG's Boto project nearby (one of IAG's two main development projects) arguably provides a strong incentive for IAG to continue their earn in to 70% over the next two years? TL also thinks we might get sufficient information from the next set of drilling results to start some calcs around a resource estimate. So it's looking reasonably promising in Senegal, we just need the results to confirm this. Overall, we have two reasonable chances of getting decent results on our licences. We should have both sets of results within the next few months and it certainly makes sense to reserve judgment until then IMO.
@jackthebear thats a valid point , but still doesnt suggest results were “fantastic” does it ? The only comp that seems to be flying at the mo is Kodal , anyway lets see what the next batch bring, have a great evening pal
Hi @Jackthebear , with all due respect id like to ask as your most certainly a far more more seasoned investor than i am , if the results were “Fantastic” why has the SP continued to slide in the wrong direction ever since ?
No sarcasm is in this question , im genuinely intrigued
JTB - I like the positivity and yes myself and others can sound a bit fed up with the constant selling of the SP and here is why in my opinion.
1. They hit gold in a lot of their holes over a long strike length so far. Great news, they have hit gold but clearly that hasn’t been enough to stimulate any recovery in SP yet (in fact it’s accelerated the other way) and maybe that’s because it only found 1m of varying grades?
2. TL sounds happy and yes they have proved there is gold in Cameroon which is awesome (which to an extent they already knew through artisanal miners) however with more results like bakassi it’s far from commercial at the moment.
3. Geo physic studies of the central licenses will be complete in say 12 months then it’s trenching so that’s 2+ years to see something more from those.
4. We’re on egg shells at the moment with support at 0.5p and out standing warrants.
Now I’m well aware that we still have 20 holes left to see so I can’t base all my pessimism from the first 9 holes but IMO those first 9 holes assays aren’t good enough to see any uptick in SP.
5. Farè which is similar geology (granted it’s in a well known area) showed assays of 50m @ 2 g/t , 10m @ 60g/t , 30m @ 20 g /t which is fair to say is very good results. So providing we get similar results from IAG that will dig us out the trenches to a certain extent.
This is a great entry for people who are new but that doesn’t bring any comfort for those who are in above 1p. I’m debating topping up but I’m pretty nervous about doing so.
My crystal ball could well be wrong and I seriously hope I’m barking up the wrong tree. we can soon discuss/bicker/argue about the remaining results when they do come, Hopefully we should get some this week.
All I know is that genuinely good results usually get reflected in the SP?
Final statement - so far - Grades okay (not great) widths too narrow.
What concerns me is the complete lack of volume zero interest in this at the mo, what you both state grades are poor so far hence the constant fall in sp , there doesnt seem to be much confidence behind the share regardless of what TL says in his interviews, as mentioned before he’s not gunna talk his own Comp down is he regardless!
Yes we have more results to come but to think they will all of a sudden blow the share price out of the water is a tad naive imo , i said id give this time and im certain thats what its going to need if it is to come good , not 6 months but 18-24 before il revaluate the situation , hopefully these levels will be somewhat a distant memory by then .. Alb folks
UKI - I said the same. Results so far are poor even with the context but let’s hope we get some better ones soon. TL has to remain positive but I’m sure he was secretly hoping for something more. Just my opinion
As always, the results are what is most important. I also don't think we can infer too much from the previous results, as the next set of results will mainly relate to holes drilled at the other prospects. There are reasons to be optimistic. Firstly, we have the visible gold from the holes drilled at the Lawa prospect, so those holes have the potential to be high grade at least. Secondly, TL has stated that ORR are expecting multigram grades from all of the remaining holes, and thirdly, there is a significant strike length/area that they are exploring, and this is just the maiden drilling. The other thing that intrigued me was to hear TL talk about the geological link between this area and our central Cameroon licences. Therefore, if I have understood that correctly, finding gold here potentially also bodes well for our central licence area? However, if these next set of results disappoint, including in terms of thickness, then it's a case of toughing it out until we hear from IAG, where again, there are reasons to be optimistic (based on historical results). And IAG are in the midst of their drilling, so it's not a massively long wait for the results. Beyond this, we of course have the central licence area, which arguably seems to be the real prize here, although I can't imagine we will commence drilling there until next year. So I think there's plenty of upside potential here from these next results, but if they are not great, then reasons to average down before IAG report back. So a calculated risk/investment at these levels?