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@cekim, I don’t have the brains to work it out but I use tradingview which has a nice vwap indicator which I’ve been using to update a spreadsheet. I think Oriole should have received around £395k from Lanstead so far. I’m assuming that the settlement date is on the 18th of the month and have used the closing 20 day vwap from the previous trading day -
18 Sep - £32,380 (RNS 29/9 gives first payment as £0.03M - so correct ball park))
18 Oct - £26,014
18 Nov - £24,473
18 Dec - £48,860
18 Jan - £65,690
18 Feb - £112,777
18 Mar - £84,583
There should be some info in the final results which I’m hoping will be released this week.
Gold spot price $2191
Junior space is going to attract a weight of long money at some point
Since Q1-2021, the Company has completed four phases of diamond drilling at the Project for a total of 6,685.40m in 54 holes.
During the next field season Oriole will be drilling more than the last 4 phases combined. 3 months before the wet season starts so they are getting cracking soon.
We have a significant amount of results on the way, plus soil sampling and trenching at Mbe , hopefully followed up by a drill programme towards the back end of 2024.
This share has some seriously significant potential.
With Cameroon being greenfield exploration , the risk reward ratio is greater than that of a normal junior explorer. Oriole are bustin’ down the door in Cameroon.
£100mcap is achievable which puts the share price around 3p
Time to load up.
Why have the BOD not declared how much they have received from Lanstead then someone with brains could work it out. Nit me. Lol
I am convinced Lanstead have sold a fair number of shares to get the price down from the .40p range which looked pretty secure from the intra day high of .57p on 22nd January.
Taking a look at the volume since their last TR1 there have now been 1.6b shares traded in total, around 45% of the issued capital, my bet the reasoning for not declaring is they do not want to show their hand as a high number of shares sold by them (say 250m/300m) will encourage the bulls, that is the last thing they want.
I do feel they should be reminded of their declaration responsibilities nonetheless, just another AIM anomaly.
Really enjoyable video, liking the extra targets that have been identified by the recent survey.
Would have been nice if Tim was asked about Lanstead and given an update in that department.
From a technical perspective this is perfectly poised for a move back into the late .30p's region.
It can only be a matter of time before a serious offer for the company comes in given the progress made in Cameroon, as I stated before, what major or mid cap can ignore a large scale new gold trend in a virgin country. They can't !
I would suggest Barrack are favourites.
Its taken a few years longer than I expected, but we will get there, this is an amazing long term hold. I just keep building my position knowing the board are slowly building a mega company.
Agree but can it come together in the next tax year please
Post Bob / Stratex, and the Cameroon entry things are beginning to come together here.
Eventually people will realise just what the potential here is. It might have taken some time but bit by bit it is all coming together
This is all coming together nicely. When the penny drops, literally, this will fly!
my reckoning on the back of *** packet just this one resource:
according to the mre, bakassi zone 1 contains 5.1 million tonnes grading 2.30 grammes per tonnes of gold, for approximately 375,000 ounces of gold in the jorc inferred resources category
375000 x £2,000 (per ounce) is $750m, if you say 10% its still $75m, orr is a ripe apple waiting to be plucked by one of the big boys soon...
Really positive RNS, huge potential
Perfect update.
7000m of drilling happening in the next few months. Testing two more areas which have been supported by the geophysics survey.
This is exactly why we’re invested here. The drill bit is turning and Oriole and BCM have worked together to identify the best opportunities to increase the MRE.
Who knows what other grades and intersections they can find. Each phase that has happened , the results have been stronger and stronger.
The resource is estimated at 400oz so far. I don’t see why this can’t get to 1m oz + on good results. Oriole then receive a $1m cash bonus.
Let’s hope we drill out some gold pipes.
Exciting times to be invested here.
If we get exceptional results this will be the share people reference in a few years. GGP, EEE, ORR
Decent scale Bibemi drilling programme to kick off shortly. Excellent.
I am wondering how much 'ammunition' Lanstead have used to get the share price down to the .25p region, they have still not declared and it is approaching 3 months since the last TR1, (end December) when they informed they had sold 200m shares amounting to 50m a month.
My view remains their selling is IRO 200m to 300m shares, I am sticking to the higher end, if so that is extremely good news moving forward as it limits their ability to knock the price further down the line.
The current situation seems quite bullish on the technical's, have also noticed the market is extremely reluctant to sell you shares around .25p this week, it does look like the floor is in here, a bit of a volume kick could deliver a decent % move therefore.
Gold at current levels increases the value of all projects, also remember Senala where some deal is ongoing, the price rise will assist there for sure.
Anyone notice how the price went up after the 5.613,627 buy at 0.2652p?.
Yes the Bibemi pit shell for inferred resources was calculated at $2000/ oz
If the gold price lingers at these levels from here forward the the JORC will have gone up by 10%
"A metal detectorist in Shropshire has unearthed England’s largest ever gold nugget worth £30,000 – despite turning up an hour late for the dig with a faulty metal detector."
With gold at current levels how can these junior explorers remain in the doldrums like they currently are, I recall some years ago how the entire sector was dragged up on a rising gold price with many micro caps delivering life changing value creation for shareholders, over the last 12 months gold has risen $400oz yet the sector remains comatose. This cannot last !
The rising gold price makes the likes of ORR very attractive to suitors, how can any major or mid cap ignore a possible new gold trend in Cameroon, the CEO has described Cameroon as the next Tanzania in respect of gold discovery, if ORR's market value (£9.5m) does not start to improve company is a sure fire takeover target IMO.
Gold £2201