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JLP enter into a JV/collaboration with Mopani Copper Mines to process sla g at the Mufulira Mine site. They have been appointed to design, implement and operate the new processing facility. There is also a provision in the mandate to expand, encompassing the treatment of material from tailing dumps and OXIDE ore sourced from small scale miners.

Operators at the mine site to include oxide or from small scale miners?

Mentioned before, the mining sector as a whole is down some 50% from it's peak in Aug'20 to a low in Sept'22 and is currently tracking sideways 5-6% above the level set a year ago.

A lead borrowed from another poster elsewhere, highlighted an article from Kitco dated 9th Oct'23 titled, Technical indicators show a bottom may be in for Gold and junior miners.

"multiple technical indicators are showing a bottom is in or very near for Gold and the junior gold equities. The relative strength index (RSI) for Gold is currently at 21. This level level has only been seen 7 times over the past decade. Gold returned 10% on average over the next 78 days each time the RSI hit this level. This implies a Gold price of US$2000 oz near the end of the year. The ratio of the VanEck Vectors Junior Gold Miners EFT (GDXJ) is also near a low set only 3 times since 2013 with the following rallies averaging a 95% return over the next 78 days."

Could this be the inflection point this sector is waiting for?

A 3%+ rise on Friday as a reaction to the news anticipated over the weekend. Inevitable profit-taking today but is back on the rise again at US$1921 oz.

Magnum Pl,

The next field season is about to commence, with site visits this month (October) to Cameroon accompanying interested parties for the possibilities of project level financing.

Ground based geophysics were completed over all four prospects at Bibemi earlier in the year to determine further drilling targets for resource expansion this season. Also, an exploration licence at present, convertion to an exploitation licence has been applied for and is expected in Q1'24. Adding value to the asset, de-risking the proposition and making the project more attractive to a suitor.

Ground based geophysics were also carried out this year at the CLP to support a Maiden drill programme this field season. Success here would be a massive enabler in securing capital inflows of one sort or another.

At Wapouze, the company has applied for a change of commodity to the licence following the identification of extensive limestone and marble outcrops, a suitable material used in the cement industry. Approval will attract another group of investors for partnering/off-take/or NSR.

At Senala, Managem has confirmed their intension to earn-in for 70%. A 2000m diamond drilling programme is planned for the Fare prospect in Q4'23. Oriole is free carried here. The JV agreement completes in Feb'24 the outcome of which, could be a NSR, easily saleable or a cash sale. Some here are speculating a sum of £10M to Oriole.

Thanks Troajan, it all adds to the perspective.

The gold price has no effect on the daily share price movement of an early stage junior gold explorer for sure, but for anyone standing in a field in the middle of Cameroon right now, who, taking the longer term view, debating whether or not to invest in this company, future gold price projections must offer some guidance.

The general consensus is, from analysts and major banks worldwide, the gold price forecast for 2024 is an average of US$2100 oz.

Goldman Sachs - $2133 oz

JP Morgan Chase - $2175 oz

ABN AMRO - $2000 oz

with very few quoting below $2000 oz.

The forecasts for 2025 are higher, with some quoting $3000 oz by the end of the year. For 2030 some are even forecasting $10,000 oz. All are in agreement however, the overall longer term view is for a steady, gradual increase in price. Couple this with gold as natural hedge and safe haven asset in times of uncertainty goes some way to off-set the initial exploration risk when the upside is considerable.

Gold price has recovered from the recent dip. Back into the 1900's, an increase of over $100 in 7 days to US$1932/oz.

'supplement those tailings with high grade ore'

A very astute observation Analytical, care to elaborate.

JLP have future plans for tailings within the Mufulira vicinity, A combination of both parties at this time for the Luansobe project seems possible.

Either way, Mufulira and it's new owners or JLP and it's Northern Refining Strategy, to progress the Luansobe project and the preferred option in is dependant on the outcome of the Mopani Copper Mines sale. Imo.

Quite, if the Mufulira Mine complex is to be used for processing making logistical sense as it is nearby, and the technicalities of treating the oxide ore to begin with have been resolved, Mufulira does have a heap leach capability for it's own oxide material, how can Addison submit an application for a mining licence or indeed, how can the Mininstry sign it off with the knowledge that in only days/weeks ownership will change and therefore any former decision at the Plant could change also.

Put a sock in it, Jackbal.

As you say elsewhere, this is a bear market for junior miners. Increasing the negativity will only serve to compound the fact. Ignoring the reality and blaming the management, a common theme here, serves no purpose either.

Some more facts,

The next field season is about to commence, with site visits this month to Cameroon accompanying parties for the possibilities of project financing.

Ground based geophysics were completed over all four prospects at Bibemi earlier this year to determine further drill targeting for resource expansion this season. Also, exploration licence conversion to exploitation licence has been applied for and is expected in Q1'24. Adding value to the asset, de-risking the proposition making the project more attractive to a suitor.

Ground based geophysics were also carried out at the CLP to support a Maiden drill programme this next field season. Success here would be a massive enabler in securing capital inflows of one sort or another.

At Wapouze, the company has applied for a change of commodity to the licence following the identification of extensive limestone and marble outcrops, suitable material for the cement industry. Approval will attract another group of investors for partnering/off-take/or NSR.

At Senala, Managem have confirmed their intention to earn-in to 70%. A 2000m diamond drill programme is planned for the Fare prospect in Q4'23. The 6 year agreement comes to an end in Feb'24, the outcome of which could be a NSR, easily saleable or a cash sale. Some here are speculating a sum of £10M to Oriole.

The 'dark horse' Shinganda is proving it's worth.

The sale of the Mopani Copper Mines must be a 'condition precedent' in securing the mine licence at Luansobe. The proposed treatment and disposal of ore and minerals recovered, by whom, where and at what rate etc. Mopani are the owners of the Mufulira Mine complex to be sold this month. JLP are thought to be involved with GLR in metallurgical testing and may have produced a process flow sheet for Luansobe. JLP are in collaboration with Mopani with their Northern Strategy for copper/cobalt.

Further update.

The Zambian government is expected to make a final decision on the sale of the Mopani Copper Mines this month (October) securing a new investor for the assets bought from Glencore in 2021.

I doubt if there is anyone left on the planet who doesn't. Same old drum, keep banging on.

The next field season about to commence for Oriole, starting with site visits to Cameroon accompanying interested parties and the possibility of project-level financing.

Ground based geophysics were carried out over all four prospects at Bibemi earlier this year to determine further drill targeting and resource expansion planned for this season. Also, an application made to convert the exploration licence to an exploitation licence expected in Q1'24.

Ground based geophysics were also completed at the CLP licence area to support a Maiden drill programme for this season. The company's main priority as success here would be a major enabler in project funding.

At Wapouze, Oriole has applied for a change of commodity in the licence following the identification of extensive limestone and marble outcrops, suitable material used in the cement industry.

At Senala, Managem have confirmed their intention to earn-in for 70%. A 2000m diamond drill programme is planned for the Fare prospect this year.

Gold is a safe haven asset in times of adversity for sure but your concerns over licence renewals is somewhat overdone.

Cameroon is transitioning from an energy supplier of oil and gas, which accounts for approximately 40% of the country's exports, to metals, bulk, base and precious.

The country has had a radical overhaul in its mining exploration and exploitation policy. In 2016, a new Mining Code and Cadastre were introduced alongside the PRECASEM.

Oriole moved quickly to attain a suite of licences deemed to be some of the most prospective in Cameroon. Considering the less well developed and nascent stage of Cameroon's mining industry, the speed at which Oriole delivered the JORC compliant MRE at Bibemi, the first Resource of it's kind in Cameroon and the ground preparatory work at the CLP, an area of over 4000 sq km is testament to the teams ability and expertise when working in-Country and with Government. Further evidenced by the suspension of the three Western CLP licences over land access issues in relation to hunting rights and to freeze Oriole's commitments, taxes etc, pending a resolution. Oriole's first-mover advantage and Government relations is already paying-off having proved their worth as a valued contributor.

So nothing new to add here then, just bang the same old drum one more time.

Looked at a number of miners today, the narrative is much the same but plenty of comments on buying the lows. Perhaps there is some truth after all in that old saying 'when others are fearful..........'