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It doesn't seem like it though, does it.

Well I have done the research and it is actually true. I looked at 25 gold stocks from explorers/developers to producers in terms of price performance year to date and price decline from this years high. I won't list all here but they include Cora Gold, Greatland Resources, Kefi Gold and Copper, Orosur Mining, Bezant Resources, ECr Minerals, Metals Exploration, Rockfire Resources, ECR Minerals. For producers I looked at the top ten holdings of the BlackRock gold and General Fund, so heavy weights such as Barrick Gold, Newmont Mining, Endeavour Mining and Franco Nevada.

In terms of the gold price itself this is down 2.2% YTD and down 22.4% from the years high.

The 10 top producers YTD performance ranges from up 1.2% (AngloGold Ashanti) to down 9.1% (Kinross Gold) and from their respective yearly highs down 24.0% (Newmont Mining) to 36.5% (Alamos Gold). I also looked at Fresnillo, Pan African and Hochschild Mining. Respective figures for YTD were -10%, -10% and + 4.4%. Declines for these three from the years high were 32.5%, 40.5% and 33.7%.

Here's the somewhat surprising performance, though not to everyone I would guess, for Oriole:

For year to date its UP 13.3% (only Cora Gold and Greatland Resources are better).

From the year's high its only down 9.3% (Only Bezant Resources is better).

All other gold stocks are down around 35% from their year's high. This shows how well Oriole has held up while gold declined 22.4% from its 2026 peak.

So in terms of absolute performance and relative strength Oriole is one of the best performers so far this year.

When gold gets into its stride again which looks like being very soon now, then Oriole is in a great position to stage a really strong upside run.

On Friday all 10 of the top gold producers gapped up from oversold levels, having bottomed one to two days previously.

Obviously we need to get Oriole over 0.40p and clearly an RNS on an EL would do that. However, the way its shaping up Oriole might breakout before.

Yes thanks Mayo, great feedback, without you we'd not be getting the cake, the icing and the cherries.

Interesting about Senala having a lot more ounces, ie well over 500,00 ounces, some 4 times what it is now according to Claire. Also, yes BCM were clearly gobsmacked by Mbe, hence their getting deeply involved. Shame the market is still largely blinkered and complacent to the opportunity here.

I have shut my eyes and have tried to imagine Martin turning up in a gold Rolls Royce to collect the EL , but its just not coming to me. Maybe a dusty old land Rover!

Lastly, re the increase in MRE ounces that the step out drilling should deliver. I had heard talk of maybe 200,000 ounces, though that is obviously an inspired guess as we have yet to get the results of the last 5 holes. Were there any further thoughts on that from the board?

Ahem, you shouldn't be asking Mayo to hurry up, particularly as he appears to be the only one from this board who took the time to drop other plans to go to the AGM.

Hi Mayo, are you going today? Can't make it myself as i'm in Cornwall. Would be interested to learn of any information you can find out. Any inklings of progress on EL for Bibemi for example and likelihood the step out drilling adds at least 130,000 ozs to MBE South.

Hope i"m wrong and the re-rate keeps going. This week and next I decree charts are humbug!

Not quite the same small drop as Monday. If you look at a daily candlestick chart as there was a long upper tail today which warns of a pause probably. Plus this was the fifth day of the rally ( Fibonacci time cycle). However, sometimes if the bull trend is really strong then we'll continue up. Just like to understand the trend and pyschology as it unfolds.

Correction....the gain from 0.75p to 0.50p was 6.66 times.

I can justify the case for a five bagger in Oriole from 0.40p. This is not guesswork or hoping it will do this but i have been reasoning the tech case and indeed the fundamental one, though the latter I do not profess to be as insightful as quite a few of you.

Re the technical analysis. It is clear on the chart that since the low of 0.075p in Nov 2023, the two month surge to 0.50p, a gain of 5.33 times (on the back of the rescue package and support from BCM) and the subsequent generally sideways ranging, albeit it choppy at times (very in the case of the Lanstead dive and the gold bonanza rise), that a triangular pattern has developed.

The converging trend lines of this pattern are due to meet around January 2027. However, the best triangle patterns, i.e. the ones that see successful breakouts (in this case on the upside) will not get to the apex (Jan 2027).

If you think about it, the rescue package and the BCM support enabling the progression through early successful exploration work and subsequent proving up of the companies assets, Bibemi and Mbe in particular appears to be culminating in providing a launch pad for the share price as the news being put out by the company is becoming consistently more impressive and more people are starting to notice.

That implies, that a chart breakout (over 0.40p) will not be that long away now. Can't tell you exactly when, but given Fridays bull move and today's consolidation, then probably before the end of the month.

The upside target from 0.40p is ultimately about 5 times that given the height of the beginning of the triangle. ( I have been slightly cautious in using 0.40p as the top, rather than the spike to 0.50p) . The target from a triangle is generally based on the widest part of the triangle. Also, the longer the triangle takes to form then the greater the breakout price move will be. This one has lasted nearly 2 1/2 years, so pretty substantial time wise. Think of it like a wind up model aeroplane. The more you wind up the propellor the faster and greater it will travel.

That puts the target at around 2p. It should do that this year, possibly in the 3rd quarter. The 2021 high was 1.92p and Oriole spent a lot of 2015 and 2016 around 2.10p to 2.30p. So that's the sort of area of key resistance.

Despite Fridays surge, tech indicators are not overbought. Possible that a tight sideways move is underway before another surge. Likely this week. Likely trigger is amother RNS. Sit tight as i'm sure you are all doing.

Well, while I said i didn't wish to speculate. I realised that is exactly what I and everyone else is doing. My wife says its gambling. I'd prefer to call it card counting or maybe well researched speculation.

As far as targets are concerned a paragraph I wrote on April 20th still basically holds true:

As far as to where it goes to in the upleg that is underway, It should at least do what it has done in the last 5 up legs that go back to March 2024 (not including the 200% gold bonanza spike last August) . Those 5 rises saw gains of between 60% and 80% from their intraday low points. Lets say it does 70% then that takes it to 0.445p. That would take it 10% above the significant 0.40p resistance level seen during 2024. Thing is though, the current rise is not like those last 5 as this one has started from a better place ie a failed downward break of a significant head and shoulders pattern.....which is effectively the way it is orientated a launch pad for a significant move skyward. You could certainly see 0.50p tested and perhaps 0.62p, not necessarily this week or next, but potentially some time in May or perhaps June. I think that talk of 1p and above, though very justified on fundamental grounds which actually i agree with, might take a bit longer than people expect. However, anything is possible in the crazy world that is AIM mining stocks.

......this now looks right for a strong surge in price. Clearly the fundamentals are slotting into space and so to the mood for obvious reasons. How high...I dont know or wish to speculate, just dont sell.

Well, if Gemini is right and Martin has managed to secure the Exploitation license then an RNS might be out Monday or Tuesday. If so then forget share price numbers....the price will soar to wherever. Mind you this is pure speculation. We could be disapponted again. Bets anyone!

This is what Gemini came up with regarding what we are all speculating about regarding Martins trip. Hope the link works.

https://share.google/ukbUicM0NwxX0InQm

Pokor has similar geological structure to Mbe delivering 1.23g/t at pre drilling stage. Ndom has returned up to 17g/t.

Check it out.

Just to let people know that I have put the lack of effective PR and Marketing that needs to be remedied to instigate a re-rating of Orioles share price to Martin, Eileen, Claire and Bob.

Martin is currently in Cameroon, but to his credit he replied to my e-mail, which was extensive. I think that as we all know that he and the board are doing a grand job on the progression of the Mbe and other prospects within the CLP licence area. The retail investor market remains largely oblivious to the treasures that are being uncovered by Orioles technical expertise and BCM's drilling prowess.

I know from speaking to them back in November at a conference in Chiswick that Mayo and I attended that like most exploration and development companies they employ outside specialists to do their PR and Marketing. They have their hands full with the ongoing work in Cameroon. They and we can only wait for the Cameroonian Government to grant the exploitation licence for Bibemi. While they have IFC Advisory acting for them on the PR and Marketing front, it is clear to all of us that there are major shortcomings here. I belive this matter, basically of poor, or some would say, non-engagement with retail investors will be addressed sooner rather than later after Martin returns.

I don't know Martins reason for travelling to Cameroon and I would not contemplate putting that question to him. I am sure that whatever the reason we will perhaps find out in due course. The AGM is not far away now. I can't make it myself this time as I will be on holiday in Cornwall. However, if any of you can make it, I would urge you to go. This is after all a pivotal year for Oriole.

Https://g.co/gemini/share/0b70742513b8

I feel everyone's frustration and GOH was right when he talked aboug the lack of PR and marketing, last week I think. I am going try and arrange a meeting with Martin, Claire and Eileen if possible.

In the meantime I asked AI, (Gemini) how Oriole stacks up against its peers with regard to number of drilling rigs used and how long it takes to publish an MRE. I'll post its reply in a following post. BTW....God of Hellfire keep the faith.....you have done so much on this board and we should all be grateful.....as should the BOD!!

Hi MarginMiner, nice to see you on this chat. Here is a link which Martin the CEO did with Alastair at Vox Markets at the end of April:

Https://youtu.be/1Qvw_YWhpsU?si=opVoH7Dhd5Gd9WP2

So I was there for the drinks reception from 4.45pm. So just to recap....its an event where lots of meetings are pre arranged. Companies, can either accept those invited to meet them...HNWI's, Finance arrangers, Venture capitalists, potntial joint venture partners etc, etc. Its a good way of weeding out.....well bascally timewasters. Oriole turned down several, BUT had meetings every 30mins between 10am and 5.00pm. So thats sbouy 14 !! According to Martin these went very well. Obviously he wasnt going to give details as to who they spoke to. Bob and Claire were there too. Suffice to say that maybe Ivor Jarman is not the only HNWI that Oriole is likely to have. While on Mr Jarman, it appears that he did his homework before investing and had been in contact several times before making his investment. It is probable from what Martin is saying that is Mr Jarmans first investment in the gold space.....and he had picked us out of all the other possibilities. That says a lot I think.

Step out drilling is going well at Mbe South and should be finished next month. Could add another 200,000 ounces. Updated MRE due 3rd quarter, so that is from 1st July onwards, not that far away. So we are probably looking at 2m ounces for just Bibemi and Mbe.

Martin is going out to Cameroon in a couple of weeks time. I had mentioned the Bibemi Licence just before that. However whether that is a factor I dont know, don't speculate on that. I expect its more related to the step out drilling.

Martn, Bob and Claire all seemed very pleased with the days precedings, so I guess that Oriole has benefitted significantly from today!

Martin is aware of the significance of the 0.40p level. Above there the target becomes 0.50p then 0.62p. There is a fair chance that a breach of 0.40p will happen in the next upleg. The current correction has got quite mature now and today the price has bounced a bit. Bob noticed that! It hasnt cut the current small squence of lower highs yet but it looks quite close to doing so.

I didnt press him on the PR front but he did day that they have been working harder on that recently. I have mentioned it several times to him over the past few months. Maybe just a coincidence.

Anyway, it all looks good and should get better.