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New CEO to buy out the remaining Landstead shares?
Several new licences once Cemeroon results are known?
Eileen wants more from her personal investment last year and that’s why we had some recent change of personnel.
Hope you're right Dwayne. You were right with info in the past. You must have good source. 😃
If that is so then bring it on! best part of £2 million though if my maths is right. Please do correct me anyone.
Was just about to ask how many shares have they got left?
Fair play if he does buy all the share though, SP would lift nicely on that news! Must of been one of the conditions him coming on was to buy shares.
Happy with this investment and happy to sit here and wait for the news to come in
The RNA on 30th April said they had 662M shares so a big ask by anybody to buy the lot!
Just needs the CEO to get some skin in the game like the rest of us!
I assume that the purported rumour is that the new CEO is considering ORR buying back Lanstead’s shares rather than personally doing so - I’m not sure the CEO of a junior explorer would have a spare £2M, but who knows.
Personally, I don’t think that ORR buying back the outstanding Lanstead shares would be a positive move.
At, and above, the current share price the deal makes sense and provides a very useful income stream for an exploration company that doesn’t currently generate any income.
I’d rather that the company used the BCM lump sums for exploration rather than buying the Lanstead shares and funding company day to day business costs instead.
Also, I suspect that given the circumstances when the deal was drawn up that any early exit clause will be rather unfavourable for ORR. If there is no exit clause and ORR were to somehow renege regardless then that wouldn’t be great for the reputation of a company actively seeking other business agreements.
If ORR were to (somehow?) buy Lanstead’s shares and sell them down in a similar way then they would benefit from the full share price and raise more than the current agreement. But then the drip of sales would continue - if circa 2M a day makes a significant impact. Or, the shares just bought and cancelled to, potentially, increase the share price around 17% - but why loose income stream for that?
I think the problem with the Lanstead deal is not the Lanstead deal but the perception and constant negativity. If a company signs up to a Lanstead agreement then they MUST deliver news that will increase their market value. If they don’t then Lanstead will suck the life out of them - the infamous death spiral. Most AIM companies fail to deliver. Their shareholders will blame Lanstead and Lanstead has become synonymous with failure. It’s not Lanstead’s fault. It’s the fault of the company and it’s directors (and sometimes the card’s dealt by lady luck). The ORR team managed to pull off the BCM deal(s) and the associated funding and exploration programs are transformational and look set to make the agreement successful.
I want news - which will come when it comes. Would be good to get confirmation that the Bibemi drilling program has actually begun and to see Mr Rosser buying in…. even if it’s not 662M shares.
Let's stop worrying about Lanstead and put this into perspective.
As long as the share price is above 0.25 we are making money per month. It currently is and the higher it goes the more Oriole receives.
With significant news due imminently this hopefully will drive the SP far higher and Lanstead will have to make even higher monthly payments.
GLA
If the Lanstead shares were bought out by the BOD (or others) the buyers would see an immediate uplift in their value as the market would see this as an 'overhang cleared' moment.
Lanstead, Yorkville and others of their ilk are despised by investors, I was staggered the BOD could have been so naive doing a deal with such an outfit, clearly they were suckered in by the speel on Lansteads website suggesting they were good for companies, utter tosh.
There are just under 15 months on this deal, as it stands I calculate Lanstead would need to sell circa 1.4m shares per trading day to be out at the close. That is not a huge number as an average, however, Lanstead play the game well and will dump more on thin volume days for certain.
Everything the CFO said when introducing this deal has been wrong, Lanstead do not declare every 1%, Lanstead are not long term holders of shares who will ultimately benefit from long term value, they are immediate sellers, the icing on the cake for Lanstead was how generously the naive BOD gave Lanstead a further 83m shares as they deemed this deal to be value enhancing, oh wow.
I suspect Eileen Carr, with £200k of her own cash personally invested, is as annoyed as the rest of us about Lansteads antics, maybe there is truth to the rumour that ORR want Lanstead gone, maybe they have another deal lined up that might deliver a cash injection that would enable a buyback, it would cost around £1.5m.
No wonder the shares are showing signs of a breakout, with Lanstead gone you could see 1p+ in a short space of time IMO.
Agreed HRY.
Rumour mill…. A broken clock is right twice a day.
The new CEO isn’t putting £2m into Oriole however I do think he should dip his hand in his pocket and buy shares. That is positive sentiment for the company.
If he was eyeing up oriole for a while as he said in his recent interview , then he should have no issues investing here.
We know everyone gets a little anxious when news is inbound, especially 7000m worth.
A little company PR with some drill cores would be nice , maybe a little update but regardless news is on the way.
Guys I love the gentle pressure on the CEO to dip his hand in his pocket, it's a subtle as a h00ker walking her client to the ATM!! But all is fair in love and investing and I'm pretty certain if a "directors deal" RNS came out with a a few million shares squirrelled to our beloved leader Marty in a cash sale we would be back in the forties and Marty would be quids in!!
By way of encouragement I have bought some more this afternoon
12:49:05 0.289 1,068,076 Most annoyingly it says it is a sell, it is not it is a buy! Blue please!!!
Hawaii - it’s a rumour and doesn’t make financial sense and I’m sure fake news. The Lanstead deal is done and if the news we’re all expecting is exceptional then it may look a stoke of genius. To buy out Lanstead would be a mistake IMHO unless there is provision in the contract at a much lower figure than the value of their shares today (I’d love to see the contract!). Do I wish they’d not done that deal - yes of course.
Re Eileen I doubt she’s that unhappy having made circa 70% profit in just over a year. Or in real terms £140k profit if she was to sell today. I’m sure she’s aiming higher like we all are and keen to shoot the lights out.
An investment by the new CEO is crucial early doors to set the tone. Just make it a big one please and soon!!
GLA
Isn't it perfectly feasible that Orr have managed to get funds from elsewhere to pay off Lanstead i.e a sale is Senala, further deals or some movement on Turkey. All those things could create enough spare cash to allow a buyout no?
Why do folks think the money for a potential buyback of the Lanstead stake has to come from ORR or it's directors, there could be, for example, a boutique fund or a group of investors who would acquire the stake as an example, maybe the new CEO can broker a deal.
The issue ORR has had historically is their lack of understanding of 'the City' and how it works, with Eileen Carr and now the new CEO having expertise in this area expect a few new tools could come out of the box.
There is never smoke without fire, the BOD know how much distraction to their on ground progress since the funding was announced, the company is now in a far stronger position, more-so with commodity prices booming + the AIM Index showing green shoots of recovery, never a better time than current to ditch Lanstead and pass the 600m shares to a material investor.
Time will tell.
Assuming Lanstead would sell the shares and at what price? They are under agreement and may prefer to see it through whilst selling the shares for far more (higher return for both Lanstead and Oriole) later on.
Well said coyote !
In addition - This continuous Lanstead chat is tedious.
The agreement can benefit us - yes, a slightly steeper uphill push but it may mean more money & no raises until September 2025+
Let’s focus on the exploration and put the Lanstead chat to bed
Coyote and Kutzz - Absolutely!
The shares are already all baked in to the mc and the higher the sp goes, the more the topco receive every month. Along with the exploration JV's we are free from any concerns of raises. It's really all fine.
I have a majority of my remaining portfolio in Oriole and I regularly visit here for interesting insights and chat.
However, this constant Lanstead drivel is putting me off, not sure what it's like for those considering investing.
Let's all look forward to the real and hopefully suberb run of news to come.
Long term holder along with Kuttz but not posted for a long time.
Do people not remember why we needed Lanstead. We needed cash. We couldn’t raise, we couldn’t get a buyer for Senala, we haven’t had any money from Turkey, no cash from Elephant oil etc… the coffers were empty. We went down a route that like it or lump it was needed to ensure we survived as a business.
With the top line company funded, we managed to get BCM on board for two opportunities.
We now need to wait for the results relating to BCM’s work on our licenses.
If the results are as hoped, Lanstead becomes an irritation but our proven value would play out.
For people like Kuttz and I who are in deep and have been here a long time, it’s painful waiting but we are now used to it…. The potential in Cameroon for why we invested in the first place is still there and we finally have a significant drilling program to prove it out.
If they find nothing then we lose. If they find solid results then everything is great and Lanstead was just a necessary evil to our survival and part of our history.
We just need to wait for what the results are. The volumes are low and will not change without news.
Patience is needed and it’s still a big risk, but forget Lanstead, if we get rid of them the top line company still needs to be funded… and we’d need to place.
That is the world of a junior explorer, it’s gambling with a bit of science and we have a partner to prove out the science to the extent that we prove out Cameroon can be a major gold District and the big boys and girls all want a piece.
Until then, sit tight, the top line company is funded via Lanstead, BCM are helping us evidence the value of our Cameroon gamble and we need to hope the results are great and we are all off to the races.
Welcome back MITM!
It’s been a minute. Great post and is it finally “Gold pipe 005 time?”
Well said Minesinthemine!
The bleating about Lanstead is way overdone.
We have cash in the bank and no need to raise.
Full ask,paid in full,in cash...on the nose
Bamb
it's just about to go blue'r.
So far so good.
The Bid is moving in the right direction!
I can only assume anticipation of all the news to be released... Or maybe 'rumours' in the background.
Bamb
just turned indigo.lol.(tick up again)