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Could bounce back quickly now, Zak Mir felt 1.2p was attainable once .60p was crossed.
Haha oh here he is !!
Shocked to see this drop below 0.68 warrants exercise price. We all know AIM market is driven by news. Covid related delays not helped us at all with delays in assays. Traders jump around to next stock in the interim. Hopefully results should all start coming back soon. Strike length of mineralisation is very attractive. Just a case of building the bigger picture, in respect of grades and depth which is i think what management is more focused on currently. Is it going to be shallow Open pit kind of deposit with a mixture of high grades along the entire mineralisation strike length.
TL is ex Barrick...Cameroon could turn out to be much bigger deposit for which they will need a bigger JV partner like Barrick, Anglo, or even IAMGOLD.
12 month hold for me to see the bigger picture. Fare at Senegal is already looking good based on previous grades that we know. Fare could also turn out to be shallow Open pit operation.
The unique selling point for ORR is being the first (or at least early) mover in Cameroon. TL always talks about the geological significance of the central Cameroon licence package in terms of the wider region, and more recently, has spoken about Bibemi being linked to this as well. The licence area in Cameroon is huge, covered by a number of separate licences, so if they JV'd only on some of the licences here, would they be safe from Article 15? On a practical and financial level, even for a major, they would not be able to explore all of them, so you could see the licences being split.
I think with the recent licenses in Central Cameroon JTB, it's definitely a distinct possibility, and a mouth watering one to me.
If we prove Gold throughout a strike length of 8km, with good grades and veins hit within 100m of surface, you could get very favourable terms.
**I only mentioned the central Cameroon licenses because of something i picked up at with ECR. They were reluctant to JV both Bailleston & Creswick (Their only current licenses) because you run a risk of triggering article 15 on the AIM is it, and essentially become a cash shell?
To be fair, Hole 1 RNS was 12:56PM and the RNS released about Visible Gold was at 2:24? i think. Not reading too much into it but it could land any time
I'm invested in numerous Gold companies across the AIM but I'm anticipating this RNS the most
High grade 4-5-6 g/t so far, visible Gold in 3 subsequent holes. 2 of them being in Lawa East 0014 & 020. 4 additional holes drilled in this area
12, 13,15,16
Yeah I get the feeling the punp crew will arrive soon. Technically this should be safe up to about 1.2 or 1.4 with the Senegal piece look what Chesser is worth vs ORR. Only issue is we have a slow dance partner in IAMG currently on a $4m spend needing to increase that to $8m to get 70% so thats another year of drilling but also results due out in H2.
No surprise that there was no RNS today. Pack up and come back Monday, though think they will walk it to the last day.
From a map posted on Twitter it seems there has been some consolidation in Senegal around ORR, you can see how Barrack and Iamgold are jostling for positions re land grab.
In a nutshell Oriole and Chesser Resources, both juniors, seem out of place and I would not be surprised to see Chesser bought out by one of those majors. If Chesser were bought out, the licence owner of 50k sqkm verses Oriole 450k sq km, it would have a direct feed through value to ORR.
The link to the map can be found here...
https://twitter.com/Oilplayer2009/status/1407699159663140864?s=20
The market in the stock was strong towards the close, I do believe the bottom has been reached, remember £1.7m cash end December + a further £650, 000 raised via warrant conversions since, the treasury is still pretty strong for a junior.
It feels like we are near the bottom and there’s so much news incoming, time to pick up a few tomorrow and average down I think, what else have you got your eye on EWT98?