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Those heading for the exits this morning are those that hoped to make a fast buck on good news. The RNS is not bad at all but does not contain any news about a JV, rather that there will be more to do before that happens. There will be those who jump out today but it is a great opportunity to get in much lower for those who paid 0.2 or more. BOIL have a HUGE asset and certainly ticks the box for a major's interest. I don't "top up" often as I usually see it as throwing good money after bad instead of admitting I got it wrong in the first place but here with this company it is not a question of whether they "have the stuff in the ground" but rather, when one of the big boys will come along to help (and with the quantities mentioned in the RNS it must surely be a question of when not if). So, panic if you want but, as I said, this is just an opportunity to grab cheap shares the way I see it.
si señor, mañana (ojalá)
Life gets in the way sometimes, ardtole. We would be complaining EVEN louder if they weren't telling us anything at all!
If it takes our minds off the ...long...wait...for...news...then, glad to be of service :0)
Reg, I don't usually hold with divination and the like but having seen a gang of men with short swords chasing me through a smoke filled room in the tea leaves of my morning brew many years ago, I stopped going to men only night at my local Turkish baths anymore ... you can't be too careful! :0)
I agree with previous posters about the stock beginning to tick upwards. In 2020/21 I was a novacyt investor and they would invariably post their RNS on Monday mornings. It didn't take long for people to cotton on to this so the stock would either rise on a Monday if there WAS an RNS or drop if there wasn't then on Thursday afternoons and Fridays the stock would start creeping back up again - I think we will see the same here over the next few days.
You may be right about that as some companies have "favoured" days for issuing RNS.
I'm sorry dbh1956dbh but I can't let you get away with that! The reason why that "note" was left in the treasury was that Labour had pumped money into the economy to counter the Global recession experienced between 2008 and 2010 after the Global Financial Crash. If you look at the the growth charts from that period you will see that the UK had actually started growing again and was one of only a few globally to achieve that! Growing, that is, right up to the point where the Tories took over in 2010 and the rest is history... (as they say) Cameron & Osbourne clamped down on everything with their "Austerity" policy and the tumbleweeds started blowing across the nation! We lost so many nurses between 2010 & 2020 (not to mention the damage to the rest of the NHS) that we were in no condition to take on Covid. Anyway, the Tories in 2020/21 not only replicated what Labour did between 2008 & 2010 they put the bloody afterburners on! We have now one giant bloody financial mess that Liz Truss somehow managed to make EVEN worse! So please don't talk to me about the Tories, mate - I'LL NEVER FORGIVE THEM!
Hawaii, thx for putting the tweets up on the board. I'm sure there are a few more old dinosaurs like me here that don't have twitter either.
Let's hope no-one slips roofies into their drinks or our venerated BOD will wake up in the morning with sore bums and a dose of the clap!
Lamby, I know what you mean, it's been "40 miles of bad road" for the last two years for those who stuck with it (not me but I watched on from afar). There are cautious reasons for optimism but we shall see!
Hawaii + Lambinator, This explains why Tim looked so relaxed in the video. They have obviously had interest from certain quarters and this conference is the obvious place for a sit down with the money guys (or 14 sit downs!). As everybody knows, the gold price is heading for $2000 and may have a long way to go yet, like O&G gold is a very good sector right now and for the foreseeable future..
14 meetings in one day? Bloody hell! That doesn't sound like they're there on a jolly, sounds like they are pretty serious about it to me.
He did seem like he hadn't a care in the world. One wonders what Mrs Livesey had to do to prep him for the video?
I can't argue with that, LW. My theories about SP Angel and them lining up some kind of partnership may be way off base, time will tell. Tim didn't look too perturbed in the latest video but then again he might be a helluvah poker player!
Kutzz, a few point here. Firstly, if you are correct about cash running out at the end of H1 then either a placement or a partnership is inevitable. Too many placements and the company will get a name for itself as a pariah to LTHs. I think that either you or somebody here said that a while back. Secondly, if they decide to take on a financial partner and the wheels fall off over the next 2-3 years and EVEN more money was required then THAT partner may come up with more money rather than see their primary investment cash flushed down the toilet.
Kutzz, I'm a Liverpool fan (for my sins) and love Kloppy but about 5 years ago or so even though everybody was telling him that we absolutely needed a world class goalie & at least one world class centre-fielder he absolutely dug his heels in and backed the squad he had - until the disaster in the CL final that is! Then with his arm forced by this he brought in Alisson Becker & Virgil Van Dyke! The rest is history as they say! There may come a point at which T&B's arms are forced and, rather going to the market and poisoning relations with the very people you want to stay with you, they try a different tack. They have the option through SP Angel - we'll see.
LW, yes you may be right and it maybe the situation that right now the maiden JORC just is not enough to convince institutions, fund managers or sugar daddies! In order to get them involved a further placement may well be required to pay for enough drilling to proof up Bibemi to the point where those people WILL part with their hard-earned cash! As I said I can understand that the tanks of those of you that have stayed the course over the last two years are empty and are very wary of getting your hopes up but put yourself in Tim's shoes for a moment, if you were in charge of a company that needs development money as it has none of it's own would you not try to go the route of sinking what little funds you have into making the company attractive enough for outside investors to come in and fund this next leg? I may be wrong but is Bibemi not seen as a stepping stone to creating enough money for Oriole then to develop the CLP and, if they do not have enough money to do this then some kind of financial partner will need to be found. I don't know whether they have enough to complete their drilling program in the 3/4th qtr so maybe they will and maybe they wont but it IS an option (at least if I were CEO I would be looking seriously at this as it would give give them what they need to a) survive as a company & b) fund the next 3-5 years of development).
LW, from my perspective the BOD seem to be trying everything they can to get their hands on more money. They have sacrificed their own wages in order to go full steam ahead in attaining the JORC which should give them something tangible to show the money men. If you talk to your bank manager "potential" alone will get you nowhere when trying to get a loan - he wants to see collateral! He wants to see a plan! Whether there is enough to convince the venture capitalists yet is debateable but SP Angel are, no doubt, in contact with "them" as there are those out there looking to invest in companies like Oriole as the upside can be tremendous. As investors we try hard to read the "tea leaves" as Tim & Bob wont come right out and say things so a degree of reading between the lines is necessary, also looking at what they are doing instead of listening/reading what they are "officially" saying. Why would Tim & Bob bring in SP Angel if was not to help them get the finance they need? If you check out their website and read up on what they do you will see that they are exactly the kind of company that can match financiers with ORR as THAT is what they do. Legalwolf, maybe I'm just seeing "smoke" that wont lead to a "fire" but it seems logical to me. Check this out here:-
https://www.spangel.co.uk/
I can fully understand the negativity surrounding this stock after the SP destruction that has taken place over the last two years but I must say that I share Hawaii's optimism (or at least the unwillingness to completely throw in the towel on Oriole!). The situation now is very different from two years ago when I was waging war against the mindless rampers (as I called them), ORR have the licences in Cameroon and the maiden JORC at Bibemi which might be enough to entice venture capitalists or other larger mining outfits to take a slice of the company for enough money to get these projects over the line. The BOD is doing what it can with the salary sacrifice scheme showing any potential investors that they are serious and that they believe in what they've got and the fact that they have brought in SP Angel a company, as I said in a previous post, that specialises in getting finance to small mining companies that are asset rich but cash poor gives me hope. If you stand back and squint you can just about see the plan the BOD have been engaged in over the last 12 months or so and now that the SP has found bottom ORR is looking like a much better punt than it did two years ago. If Hawaii and I are correct on this it is possible? probable? that we may have the money men arriving this year some time. It all depends on whether they think that enough has been done to warrant the risk - let's hope so. I am no ramper (as some of you here can attest to having witnessed the fights I got into with rampers two years ago! ) but in the spirit of full disclosure I have bought ORR 4 times in the last 2 months and sold 3 times so currently am a holder of the stock. GLA
Hawaii, like you I have been wondering when (and in Oriole's position it does seem a matter of when not if) the company will take on debt rather than keep going to the well in terms of placements. With SP Angel coming aboard, a company that specialises in helping out small mining companies that are asset rich but cash poor, the RNS that they are putting out do seem more like prospectus for any institutions/fund managers/sugar daddies that have heaps of dough and nowhere to invest it! Now is a very interesting time for ORR as it does seem that the BODs plan is slowly coming together.