Member Info for Coyote2020

All licences are renewed at some point and is the norm rather than the exception.

Licence Expiry Dates;

CLP - all next year with the exception Gamboukou (1/11/25) and Maboum (under application).

Bibemi - the current (no date) exploration licence application for conversion to an exploitation licence scheduled for 2024.

Wapouze - change of commodity approved, awaiting confirmation of renewal.

I doubt the Ministry for Mines monitor a company's financial status every 5 minutes of every day.

Oriole are well up to speed with their endeavours.

Mine licence tenure is for an initial 3 year period followed by renewals every 2 years. The company's required expenditure, commitments, taxes etc to secure the licence are reviewed at the end of each tenure to assess the viability for further tenure.

They're on to something.

The drill programme has been upgraded from reconnaissance to delineate a resource. There are nine targets. Wait and see where this leads.

Any information over and above what is already known, classed as price sensitive is not likely to be revealed in an RNS at this time. What is evident however, is the buzz and excitement written into the recent RNS's.

There again, attending interviews with major banks, financiers, off-takers and the like with nearly 3Mt of copper, over 2M ozs of gold, 22M ozs of silver, zinc and lead in your back pocket can't be all bad.

The narrative here does not support the notion of a fair or balanced view. This share has been rubbished every which way, continually and for a number of years.

Valuation of the mining sector as a whole has been in decline, reduced by some 50%, since the summer of 2020. The Majors have come off their peak and the micro-caps have been hit hard. The gold price has remained resilient throughout that time (slight trough in Oct'22) but capital inflows, into the junior gold exploration sector have failed to materialise as expected.

The upshot to all of this, is when the market turns and sentiment returns to the junior space, the scope for improvement in the share price and company valuation has been appreciably enhanced.

At Bibemi, Oriole's 90% owned licence area in Northern Cameroon, contains four prospects, Bakassi 1&2, Lawa East and West. In Oct'22, Oriole produced a JORC inferred resource estimate of 305k ozs @ 2.19 g/t Au plus an additional resource target of 53-148k ozs which included the exceptional drill result of 14.80m @ 4.27 g/t Au at the Bakassi Zone 1 prospect. At first attempt, from only 28 DD holes for 3,840m, Oriole is already generating average grades above 2 g/t Au, indicative of orogenic style gold and potentially up to a 450k ozs resource from only the one prospect. Visible gold has been identified at the three remaining prospects from minimal investigation so far giving results;

1.00m @ 6.52 g/t Au (Lawa West)

0.85m @ 4.50 g/t Au (Bakassi Zone 2)

3.00m @ 12.3 g/t Au (Lawa East)

offering clear potential for further discovery and the possibility of a +1M oz deposit.

Broker note from in the week,

In Zambia, many miners wear their High-Viz mine jackets in clubs and restaurants not for health and safety reasons, but to show they have well paid jobs in the mining industry.

So you both will be there, Kutzz in his Ferrari and GodofHellfire on rollerskates.

Update from Neal Froneman, CEO at Sibanye-Stillwater said today, the required Mopani investment of around US$1B over the next 4-5 years to raise output at the copper mines to 200,000t/yr is not onerous.

Analyst's are concerned however, that Sibanye is too deeply committed elsewhere in the US and in Europe. "Sibanye's plate currently appears crammed full they say".

Froneman replied, the company would not risks and if the company thought it couldn't afford the US$200M a year investment, it wouldn't do it.

The sales process is on-going.

Oriole has options with regard to further funding;

1/ Monetise the legacy assets.

2/ The Canadian Investment Bank provides an Investor or investors.

3/ Investment from any other party currently in negotiation.

4/ Share price recovery and the Lanstead arrangement. Should the sp re-rate only to 0.2533p, not unimaginable in these volatile markets, then Oriole would be fully budgeted for overheads + £1M exploration spend, for the next two years.

I like the note from SP Angel today. In Zambia, many miners wear their High-Viz mine jackets in restaurants and clubs, not for health and safety reasons but to show they have well paid jobs in the mining industry.

Mining for metals in Cameroon is only just beginning.

Some similarities between New Found Gold Corp's Queensway Gold Project and Oriole's CLP in Cameroon prior to their Maiden Drill programmes.

1/ Early stage greenfield exploration. YES.

2/ Expansive licence area prospective for a range of mineralisation. YES.

3/ District Scale. YES.

4/ Almost zero previous exploration. YES.

5/ Minimal historical data. YES.

6/ First mover advantage. YES.

7/ Two years of ground based exploration yielding multiple zones and anomalies. YES.

8/ High grade rock-chip sampling raising the potential for Orogenic Gold style mineralisation. YES.

9/ Crustal structures can be found on both sides of the Atlantic and tracked into Gold-bearing regions. YES.

10/ Significant strike/fault length. YES.

11/ Management's extensive experience in grassroots, early stage exploration. YES.

12/ Safe jurisdictions. YES.

13/ Market capitalisation. NO.

For context, (TSXV:NFG) New Found Gold Corp's Queensway Gold prospect is a district scale orogenic gold exploration project of 1662 sq km with over 100 km of strike/fault length having minimal exploration and minimal historic data.

Orogenic gold deposits are formed within the earth's crust during a period of tectonic collision and mountain building. Exceptionally high-grade gold mineralisation can form when large fault systems open up during seismic events allowing deep-seated gold-rich fluids to rapidly ascend towards the surface. As these fluids rise, they undergo chemical changes and begin cooling causing precipitation of metallic gold and other minerals including quartz and sulphides.

NFG after 2 years of reconnaissance geochemical, geophysical and structural analysis generating 17 high grade gold occurrences and zones, a Maiden drill programme of 10 holes totaling 1985m commenced in Nov/Dec'19. Best result was from the first hole intersecting 92.86 g/t Au over 19m from 96m including 285.2 g/t Au over 6m. An outstanding result.

A private company at the time, IPO'd in August the following year raising CAD$27.3M for a market cap of CAD$180M. In June'21, 10 months later, after 267 holes totaling 61,700m of an aggressive 200,000m drill programme with up to 10 rigs in use and multiple high grade intercepts, the market capitalisation peaked at CAD$1.7B.

The company still classified as an Explorer is actively drilling today yet to produce a MRE has a m/cap of over CAD$1B.

Eric Sprott has circa 20% stake in this company, the largest holding in his portfolio.

Well.......

Beardozer, you say your looking for 10p/sh which equates to around a £400M m/cap. Take a look if you have the time, at a previous posting titled 'ORR and the future' posted on 20th Sept @ 18-39.

It refers to New Found Gold Corp's Queenway Gold licence and from the third paragraph in particular, are there any similarities between this company and Oriole's CLP in Cameroon. If the answer is yes, we'll......

Exactly.

Ignore the noise, do some research, come up with something constructive for the first time ever or atleast within the past two years here.

Now that would be a real breath of fresh air!

The JORC compliant inferred resource at Fare South of 155k ozs @ 1.26 g/t Au plus an additional Exploration Target of up to 280k ozs grade 1.10 g/t Au was derived from 80 holes, 78 of which were drilled by Stratex some 10 years ago. The more recent drilling carried by IamGold at Fare Far South, gave exceptional results of 5.00m @ 12.45 g/t Au, 14.00m @ 2.09 g/t Au and 35.00m @ 3.61 g/t Au equaling the best ever intersection of 36.00m @ 3.59g/t Au drilled at Boto (2.5M oz).

Managem have retained the existing exploration team from the IamGold days in Senegal, to provide continuity and have plans for a 9 hole drill programme for 2000m to commence this forthcoming season.

The programme covers the full length (6 km) of the main mineralised trend at Fare. Designed to undercut some of the more mineralised shallow intervals below the base of oxidation and provide further information on style, alteration and the structural control. Two holes are planned for Fare North, three holes for Fare South and four holes for Fare Far South. The drill rig was mobilised earlier this year ready for commencement.

The Senala licence has five prospects, two of which, Fare and Madina Bafe have been progressed the most. FARE best results:

20.00m @ 31.13 g/t Au (FARC - 00007)

59.60m @ 2.20 g/t Au (FADD - 00004)

70.00m @ 1.46 g/t Au (FADD21 - 031C)

MADINA BAFE best result; 9.6m @ 16g/t.

At Fare, 6 km of strike over three targets, North, South and Far South, Fare South hosts a JORC inferred resource of 155k ozs @ 1.26 g/ t Au open along strike and at depth.

Intriguingly, Hole (FARC - 00007),

20.00m @ 31.13 g/t Au from 19.00m includes;

1.00m @ 229.51 g/t Au from 19.00m.

1.00m @ 67.80 g/t Au from 21.00m.

1.00m @ 115.5 g/t Au from 22.00m.

1.00m @ 55.28 g/t Au from 23.00m.

1.00m @ 82.41 g/t Au from 24.00m.

1.00m @ 54.23 g/t Au from 25.00m.

Note; 20 - 21m is missing due to rig failure.

Drilled by Stratex back in 2013, the results were so good they were re-assayed at two independent labs as well as the original lab. Results proved accurate with no discrepancy in quality control. Reasons given at the time were either an extreme nugget effect and/or the likelihood of more than one mineralised structure in close proximity. However, this hole was twinned (FADD - 13) resulting in no comparison. No other investigation or follow-up has taken place adjacent to or nearby since.

The 6 year earn-in to 70% is scheduled to complete in Feb'24. Now in the hands of Managem, Oriole see this as beneficial now that the operatorship has passed to a group looking to fully develop Boto and surrounding assets.

The licence is well located and is of interest to several exploration and mining companies with activities in the area. Oklo Resources were acquired by B2Gold last year for the premium price of $87/oz or 128% on the market cap. Reason being the assets are within trucking distance (c.25 km) of B2Gold's Fekola mine. Chesser Resources were sold earlier this year for a premium of $41/oz assigned to higher grade projects with expansion potential.

Senala has five prospects. Fare to the north, Baytilaye, Konkonou, Saroudia and Madina Bafe to the south. Fare is located c.25 km of Barrick's Loula (3.7M oz) and Gounkoto (8.8M oz) mines. Madina Bafe is located 10 km from Boto (Managem) and 15 km from B2Gold's Fekola placing the 472.5 sq km Senala licence area in a very advantageous position.

When the earn-in completes, this will give clarity on the company's residual ownership position and could lead to a significant liquidity event.