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Cekim,you may have noticed that I have not posted here on this board very often in the last 3 months or so. The reason for this was that I got sick fed up of arguing with idiot rampers that only wanted to "push the upside" which I thought/still think is dishonest and leads to inexperienced traders/investors over-investing in a stock that they really shouldn't! It is perfectly fine to own shares in a high risk company such as Oriole but it must be PART of your portfolio NOT the entire thing!
Kutzz, you are one of the people on this board that I was rooting for (as the yanks would say) as, although I could see that you were over-invested here it would have been good if things had worked out for you. It is a very difficult thing to first admit a mistake but it is the first step in rectifying it! There is a reason why people stand up in AA meetings and state their names and that that they are alcoholics as identifying the problem is the first step. Once the truth has been accepted they can start down the path of redemption. In your case (and many others on this board probably) it would be to reduce your position size. No doubt the idiot rampers will attack me for stating,what for me is, the bloody obvious but believe me once you have "lightened the load" and re-invested the money somewhere else you will immediately feel a bit better - take my word for it!
AG1989 - I could see ORR burning through £1-2 million quite quickly tbh. I don't think the cost of exploration in Cameroon is likely to be cheap (by comparison to other jurisdictions), because it doesn't have the in built mining industry that other African countries have. Our drilling at Bibemi (which is only 5000m) and the stream sediment sampling, looks like it cost £1 million for example. The licence package in Central Cameroon is absolutely huge. It's going to take some time and effort (and possible multiple drilling campaigns) before they hit a level of gold that would bring in a JV partner to take over the expenditure. I could see ORR needing/spending £3-4 million just to get to that stage? To get that kind of money, a sale of an asset looks inevitable or the best option imo. Much rather they do this, then have to do £500k placings on a campaign by campaign basis.
The donkey told the tiger,
"The grass is blue."
The tiger replied, "No, the grass is green ."
The discussion became heated, and the two decided to submit the issue to arbitration, so they approached the lion.
As they approached the lion on his throne, the donkey started screaming: ''Your Highness, isn't it true that the grass is blue?"
The lion replied: "If you believe it is true, the grass is blue."
The donkey rushed forward and continued: ''The tiger disagrees with me, contradicts me and annoys me. Please punish him."
The king then declared: ''The tiger will be punished with 3 days of silence."
The donkey jumped with joy and went on his way, content and repeating ''The grass is blue, the grass is blue..."
The tiger asked the lion, "Your Majesty, why have you punished me, after all, the grass is green?"
The lion replied, ''You've known and seen the grass is green."
The tiger asked, ''So why do you punish me?"
The lion replied, "That has nothing to do with the question of whether the grass is blue or green. The punishment is because it is degrading for a brave, intelligent creature like you to waste time arguing with an ass, and on top of that, you came and bothered me with that question just to validate something you already knew was true!"
The biggest waste of time is arguing with the fool and fanatic who doesn't care about truth or reality, but only the victory of his beliefs and illusions. Never waste time on discussions that make no sense. There are people who, for all the evidence presented to them, do not have the ability to understand. Others who are blinded by ego, hatred and resentment, and the only thing that they want is to be right even if they aren’t.
When IGNORANCE SCREAMS, intelligence moves on.
Dogstar it is good advice but i think we all know the ins and outs but sometimes you invest too much getting taken in with the ramping . Thing is you don't need someone telling you your wrongs.
Burleigh. V heavily invested. £120k invested here.
Cekim,first of all I am as much an "investor" as you are. Secondly,I was trying to give good advice! Apologies if you have somehow found offence!
Here's all the expert traders telling everyone how to do it right. Great, its all people who are losing money want to hear.
Burleigh,you are right to have your "eggs" spread over a number of "baskets" as that is good portfolio management. I have a "Christmas tree" approach (40% low risk,30% medium risk,20% high risk and 10% cash) though this needs to be rebalanced every 6 months or so. Sometimes people are tempted to "top-up" which leads to over-investment in one stock/risk category. "Topping-up" should be done very sparingly and only a few times a year,if at all, in my view as it IS risky to allow your PF to become over-exposed to risk. Risk management is a big part of trading/investing and can make the difference between making a nice living from the market and losing a packet!
Agreed with LW
I like the ceo, he’s an extremely knowledgable person in this field too
It’s just decision time. Crunching some quick numbers. Releasing 500 millions shares at 0.0040 could generate £2m. That would probably last 18-24 months, but it’s close to 30% dilution.
Hoping there’s ways and means around this because I’m extremely encouraged by the Early signs at Bibemi, I’m just thinking long term financially.
Faré has a lot more to offer than 155,000 oz in my opinion and could potentially entice IAMGOLD to cut some kind of deal.
I don't fault the company for trying, but the bullets have unfortunately not worked. The elephant in the room is the cash position of less than £1 million. That will pay the company's operating costs and the bills, but it doesn't leave much change for exploration work. The market cap is £7 million, which when weighed against the funds ORR needs to fund its exploration means the potential for dilution is significant. So I think a sale of Senala - even doing IAG a cut price deal - is something ORR should seriously consider.
Falling off a cliff, unfortunately. ORR needs to put itself in the shop window and be sold off.
Glass half full,, people buying, …….
AG, fair play for trying to keep the positivity up.
I think I need to try and just write this off and forget it. Come back to it in a few years, it won’t be easy because I’ve got such a big lump sum in this but I made my decision and got to stand by it.
It’s pretty crap, I won’t lie.
RNS bullets well and truly fired
Could selling Senala to IAMGOLD for X millions be an early possibility ? Then attack Bibemi with a real aggressive growth drilling campaign to get the market back on side
“If” the share price stays stagnant, I fear any up and coming raises and dilution
Kind of praying Bibemi results strike it rich soon
Targeting areas previously reported
2.45m@2.96g/t
3.6m@1.75g/t
12.4m@0.72g/t
1m@5.65g/t
1m@6.15g/t
1m@1.44g/t
1m@2.54g/t
Cekim - agreed however the last batch were really good so it’s important to remember that. It’s just this slump we are in makes it hard to see the silver lining
Cekim correct
doomstairs probably not helping.
Really.
Bang average results not helping
The grades just aren’t hhreat are they? Not too bad but the gold price would have to be strong to justify a stand alone operation
Agreed Kutzz, not ideal .. This one is guna be a long road back i feel , iv got to the stage where iv written it off tbh pal
Hope your well mate
Leathal
Don't" think this is going to kick start the SP. Hopefully i am wrong.
Not as good as the last batch but now we have the majority of the results out.
If the last set didn’t lift this then sure as eggs are eggs this won’t budge today.
Small intersections at Madina Bafe, doesn’t look promising for satellite feed for boto?
Back to being patient
https://www.lse.co.uk/rns/ORR/drilling-results-from-far233-and-madina-baf233-6fb4a9zgrfp9i8v.html