Member Info for Benhowell459

On that note, we could definitely come up with a top 10 most famous / annoying Birdisms...

Gold getting into all the nooks and crannies has to be one of the most annoying reasons for the delay to Manica income.

"Ah it gets everywhere, Zac."

Yeh, just not onto Xtract's balance sheet it seems.

*what puts people off

**We need the tox results, not trial results. Apologies typing on phone in a rush.

Agree potnak. The potential here is incredible. But atm I guess what puts people is the potential. I also agree we need the trial results before we interest both punters and pharma. The two will go hand in hand.

We do have a few interesting milestones before then though:

- Publication of peer reviewed phase 1 trial report. Will hopefully get us noticed a little more.

- 737 on licence could happen any time. The one big barrier to this was previously stated as patent life. This has seemingly been resolved. Nothing in the way now. Full steam ahead and get the deal done please Parker. (Unless they want lock stock and barrel for £400m in 6 months).

- News from our AI work could land at any time this summer. Is this tied in with CNS / BBB penetrants?

- 1802 on licence again could happen any time although would make sense for potential licencees to await news of 1801 tox studies. Although price will be higher if it's good.

6 months ago all seemed pretty bleak. Now we have a few strings to our bow and an ageing BoD who really don't want to hang around too much longer.

Advisors over in the US presumably also want a % - I'd be happy to give them 5% of £400m of they can get it down in 2026.

GLA and enjoy the sunshine if you can.

evidently not

https://www.************* interviews.com/oriole-resources-claire-bay-highlights-strong-mb01-north-drilling-results-at-mbe/4121245446

connect the space perhaps

let's see if this works

https://www.***************************/oriole-resources-claire-bay-highlights-strong-mb01-north-drilling-results-at-mbe/4121245446

And to confirm, the position is around 800-900k depending on when he bought.

I would assume this is an acquisition. Despite the share price falling, the logical conclusion is him having bought in recently.

The rationale for this is we haven't heard of him before. If he was selling we'd have already had a notice of position a year, two years etc ago.

Since we have no idea who this is, he can't be selling. He must have been buying.

Again, odd the SP is down but I can't see it any other way?

Orr blimey - agree this will take a while.

Presumably if none of the Mbe South is indicated, then none of the Mbe North JORC will be indicated either (or at least very little).

We currently have zero ounces which contribute to the milestone payments.

Upcoming drilling at Mbe South won't convert 100% to indicated so we are looking at no milestones payments in 2026 at least.

We will be looking at a 3rd round at Mbe South possibly taking us over the edge to get our very first milestone payments - so 2027 sometime.

This really should be made clear so everyone is aware. Morning summaries often imply they are imminent, which they are very much not.

Any idea if these have been continuing? I can see no evidence that they been coming in. Can anyone shed any light on this?

Also on a related note, anyone know when was the last time we had details of our finances?

Sorry would normally do a trawl of RNSs but out and about today.

Cheers

Superb result with a lovely length of mineralisation in more than one hole. Starting to look like MBE S in terms of widths.

However it's not moving the dial. We know there is gold there now and lots of it.

The key is the next stage, exploitation licence etc etc. Good results from Clare (hats off to you!) but over to Martin to actually convert this potential into something sellable OR deliverable.

Unfinished message. Terrible interface.

Warrants won't be exercised at 95% down.

We are at 0.3p old money ( pitiful really).

The link below states:

Under the terms of the Subscription, the Subscriber will also be issued one five-year warrant, exercisable at the Subscription Price, for every three Subscription Shares issued (the "Subscription Warrant"), which can only be exercised following the Company's closing middle market share price being above 7p per Ordinary Share for five consecutive days.

Presumably they sold out some of their shares when we hit 8 or 9p. Warrants cannot be exercised unless they already were previously above 7p (can't be bother to travel through RNSs from 2021.

Any other warrants above 1p old money won't be exercised either unless we get a move on.

I think it shows two things:

How abysmal the drop has been (River fort, peel hunt - good riddance, the terrible decision to consolidate - any benefits seen or are they invisible like Brexit?)

But it also shows the ten bagger potential here. We are further along than we've ever been and sitting at a measly £20m market cap.

If everything falls into place before EOY, we could be sitting at £200m.

737 on licence.

1802 on licence.

1801 phase 2 ready.

Again, my preference though is sell out. If we on licence all 3 to different pharma, will the BoD have to keep working? What do they do? How do they then sell the company in 2027/28 when so many different pharma have a piece of the pie. Becomes far too complex. Things looking rosier than before the IM but I for one am glad we've got some advisors on board - hopefully they are better than PH and experts in M&A (lock stock and barrel specialists)

Re warrants which were issued pre consolidation and are due to expire in the next 6 months or so, I would imagine the warrant holder would not wish to exercise their rights when they were them be 95% down at t

The problem with "no news is good news" strategy potnak is the following in the previous RNS

"The dosing phase of the toxicology studies is expected to complete in mid-2026."

No News until June or July and we WILL be at 8p.

The sp slides upon no news.

Great point cobalt - hopefully the droning questioner from last year can't make it this time or at the very least has realised he's not the only one in the room and received justified flak for wasting valuable "holding to account" time with useless questions!!

Potnak, agree with those sensible thoughts.

I have long thought they missed a trick not doing phase 1b. We were primed and ready to go in Oz - possibly with the exception of more material required. Oz was great for us - no idea why we ignored the potential to do the next phase in quick succession.

If we had, I imagine we'd already know if 1801 has any efficacy in psoriasis and we would have been able to raise at a much higher level to fund the tox studies.

The BoD wanted to speed up the process and in doing so, slowed it down more than if they'd been more strategic.

I've said it before and I'll say it again - they may be great chemists (although the balls up to tox studies #1 potentially suggests otherwise), they sure as he** haven't a scooby when it comes to negotiating deals or strategy.

Over a year sat on 737 - might as well have not bothered.

(Before anyone says they've probably tried to get a deal, that means jack sh** when the pharma world works on clear cut outputs and outcomes - haven't even seen any patent extension applications?)

Short of making a deal, I dont know what the board can do here.

You have to be honest potnak - the BoDs ability to provide accurate forward looking statements on time frames and milestones has been pretty woeful.

Yes they met their target of restart the tox studies early in 2026 but apart from that I would exactly say they've been spot on when it comes to meeting their own timelines...

I think it's probably worth considering wider geopolitical issues in their risk management process.

How the Cameroon govt are treated / engaged by the UK ambassador and our rules governing visits is definitely one which fits into that category, albeit we have no levers to pull on that one.

I do note we have had engagement with HMG's ambassador and I believe he / she was present at one of our events - again, this shows ORR are on the ball when it comes to wider issues.

The key here is Oriole understanding what Cameroon may want and how they may benefit.

Claire Bay emphasised this in a recent video - the majority of workers on site (apart from a Senegalese site manager I think) are locals. We are intent on upskilling the workforce and the Cameroon govt will benefit from the positive story of local jobs and possible royalties further down the line.

I think we have got the balance right - yes we will profit from this but we are also laser focused on ensuring the authorities see the benefit to Cameroon. I note at this point a recent article about Lewis Hamilton and his desire for profits to stay in Africa. He stated he was against western countries profiting from Africa. It's a general statement but the risk of such an attitude is always there. We have done excellent stakeholder management so far and hopefully it will continue - if not we'll be left with nothing..

Very positive. Wish it would have been in 3 weeks time though to allow me to top up the ISA and average down...

For a multi million pound valued company, we should really be way past discussing sound issues!

Hopefully we do get an RNS beforehand or there'll be little they can say, surely?