Buy Oriole and don't be a sausage16 Dec 2025 11:50
Todays PEA never meant to be a “wow” RNS. It's dotting the I's and crossing the T's, not a results announcement, despite some posts appearing to treat it as one.
Today, if anything was worth a puppy 1 percent SP uplift in recognition to it's importance in facilitating the exploitation award. An ickle bit of unexpected good news on a dull Tuesday morning.
Crucially, the PEA uses only ~89koz, which is less than 20% of Bibemi alone. Bibemi already hosts ~470koz of defined gold plus an Exploration Target of 145–400koz, all excluded by design.
One genuine question after today’s reaction is whether the market has simply forgotten the scale of Oriole’s portfolio, particularly Mbe. Mbe materially changes the picture. Mbe South hosts a published 870koz JORC Inferred Resource, while Mbe North carries a separate 370–605koz JORC Exploration Target.
Taken across the portfolio, Oriole has ~1.24Moz of attributable JORC Resources today and a further ~0.9–1.65Moz of stated Exploration Targets, implying ~2.1–2.9Moz of total potential, yet the current valuation appears to reflect little more than the licence-enabling Bibemi mini PEA alone
Billions of value, for 0.2.85 pennies a share.