Management you can trust20 Apr 2023 14:06
From the March results:
''After the positive comments on results achieved during the year, I must address our share price. When I joined the Company in February 2022, the share price was 0.34p, it is now in the region of 0.14p despite the excellent results noted above. Part can be blamed on the economic uncertainty of the markets and the gold price, and it is true that most small cap gold companies are experiencing tough times. However, it is obvious that the market continues to price in further equity raises which has compounded these other factors and led to a considerable negative effect on our share price. As a personal investor at 0.34p, 0.30p, 0.18p and 0.12p, I recognise the pain and can understand the frustration of many of our investors especially those who regularly contribute to the share chat platforms. Having read the recent contributions I can offer long term and short term shareholders the following observation, in over 30 years in the resource sector, I can truly say that I have never met such a hard-working, diligent and competent team as that at Oriole and whilst I too dislike dilution unfortunately, equity raises are often part of the funding requirement of a junior company. However, we are doing our utmost to seek value elsewhere in order to minimise the requirement for equity and I would ask for your continued patience as we endeavour to seek value within our asset portfolio in order to achieve a better share price for all.''