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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
Tim urged investors “to stick with it, as this is the start of a real growth story…” we’re “hanging in there” (3 years) and it’s time “to be rewarded”
Come on TimBob.
Come on Eileen.
Also come on to the MM’s for f**king the SP on the daily.
Sadly we are at the mercy of everything that is bad about AIM. Too many basement traders looking to make £100 a day and bail on any rise and MM's who manipulate spreads to suit themselves. Add to that, promoters who over promise and under deliver and it's clear that AIM is a very risky market. Hoping that sentiment for miners will improve and I can get out of ORR with a decent return for the 4 years I 've been here but I won't be back.
It seems like it was move up the last two on minimal buys and just like that, taken back down 10% on minimal sells.
Low volume kills the share price and the MM’s don’t seem to keep this fair.
Lots going on behind the scenes but all quiet on the surface. As Hunniford said, kills SP sentiment week to week but should ultimately pay off.
Enjoyed those two blue days while they lasted. Normal service resumed until we get decent news.
6K worth of buys so they drop it another 2% just because they can. This is so corrupt its unbelievable.
Yeah agreed, it also depends what folks end games are. I think this is being prepared for a sale to a larger entity. The leadership team have done this in the past. When the chair bought she moved her stock into her SIPP a nice buyout of ORR would be a great retirement deal! I don’t see this being bought until Lanstead are out, probably too messy but at the end of Lanstead the company will likely seek to raise again. The logic would be we have created more value in the biz. So management do need to keep the pace up since time waits for no man nor beast!
That said if we can create value and make it into the lofty heights of 1p+ then a buy out at a much higher price would be some sweet sweet money from these levels.
So all we need are some decent results in MBE & Bibimi then a couple more licences secured with JVS ….FOMO. A smattering of luck in Senegal, although to be fair if we can get good results in Cameroon we can afford to let Senegal sit since it is also on decent grades. Maybe if we can start mining that cement we can build a big shiny gold district in Cameroon.
When this does pop (which it will) it could move very fast!! I’m intending to buy a few more at these levels and not much higher, not because i don’t believe the higher SP will add value but just because i believe these levels are insanely cheap!!
Good luck all & keep the faith this management team know how to find the shiny stuff they may not be able to control the day to day but if the shiny stuff is in the ground this that won’t really matter!!
This is also a company where the insiders have a decent sized amount of Skin in the Game!!
Volume will only come with news. There needs to be regular news to keep the interest going and the fomo. They've had a hiatus so we're just waiting for them to get back up and moving. It will come
There was a 40k buy a few weeks ago which never moved the SP. 11K sells today and its down 7% who diddles this as it always seems against us. Has been like this for years . WHY??
We need volume, until we get more volume and interest this will be like tumbleweed. How do we get volume, more good decent news will help. The company started of the year was some decent comms that helped to build hype like several RNS around the BCM deals etc etc. So I’m sure they are working something up in the wings!!
Anyone would think the 0.50p year high should be in the rear view mirror by now but Mr Market has other ideas! Something has to give and I'm hoping it's a 200% rise from here after wonderful news. Even that only gets us to 0.75p which remains a joke.
The 2 transactions - 586+ and 682+ just after 11.00 am were, in fact my purchases. Expecting a rebound shortly
Yet again antics with the share price, wide spread, bid/offer moving around on tiny trades, one assumes the VWAP is based on the mid price so is this why? What seems very clear is the market does not want to sell very much stock around the .24p/.28p level.
The market knows news could come on a number of fronts at any time, clearly the market makers are wary hence the difficulty in getting a decent slice of stock.
Interesting times !
Let's get back to it.
Thanks for posting the grades and thicknesses at Bibemi Kutzz.
One point which is significant and as yet underappreciated is the geometry of the deposition at Bibemi.
Much of the higher grade intersections are horizontal or near horizontal.
The significance arises once we get to the stage of designing pit shells. This is to say we need to do relatively little moving of overburden to get into pay.
The value here is in the ease of extraction and low costs associated with ease of extraction.
The other benefit of a large amount of horizontal geometry is that infill drilling becomes like shooting rats in barrell.
The resource can build quickly and needs less drill meters to increase verses deposits which sit in the vertical plane.
Ultimately the better the geometry the better the project economics both from exploration and mining perspectives.
Add to this the fact that Bibemi is massively under explored.
It would take a v large premium to take out ORR lock stock now...at least 250% from here imv.
Will be interesting to see how the company deal with the other CLP licences.
I have never seen this before. I can sell up to 25 grand at the full bid. Even after that I can almost get the full bid.
No wonder they made it so hard on Friday to buy at 0.24p and wanted over 0.26p for most of the day..