focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Pretty concise RNS, so they are checking the numbers before confirming the way forward, it is interesting that they mention sale (right of 1st refusal etc) the JV partner Managem Group having acquired Boto mine next door, they would certainly not want to give up the very lucrative exploration land next door would they, this is discussed in their project overview section.
All still to play for, it is clear that ORR's 41% stake in Senala has significant value not currently reflected in the market valuation.
The fact Managem have to spend $31m to dilute ORR to below 10% indicates that valuation metric.
The share price hit .57p on 22nd January, shares can now be bought around .33p but once any decent sized buys hit the market they move the offer to .40p in a flash.
From a technical perspective the RSI has gone from overbought 85 to a neutral 49, there is strong chart support around 33p mid price.
Would be surprised to see any more downside from current levels therefore.
I feel we are not a million miles away from news, the recent drop has been on very low volume and currently there is no stock on offer at the advertised price.
Come on AYM get that Grangesberg deal that Joe hinted at across the line and lets have a material re-rate of the equity.
Very little stock on offer this morning, the market makers continue to quote 3.17p for size.
There is no doubt in my mind the shares will be moving up again, the last run up in November took the price to 3.2p however that was from the low 1.6p base.
The re-rate will continue, you have to be in to win with these small caps, a touch of modest buying pressure and this could hit 4p or even 5p PDQ.
IG are asking 3.17p for £15,000 of stock, it shows how sensitive the market is here, news may be around the corner, the company is in full on growth mode, one industry source was asking if CNSL had operations in Australia, you need to know know where to look who it was.
Clearly there is strong demand for CNSL's offering.
The bashers are economically bankrupt having bought at 80p+ and are now here to stop folks buying at 3p !
Buy low sell high !!
All I can say is the company and it's advisors are watertight when it comes to price sensitive news, you only have to look at the recent JV RNS's, there was no rally or volume kick in the stock price before that news was released.
I also suspect that the wider market has no clue about JV expiry at Senala and the possible consequences, if they do sell the licence it will come as a surprise and the stock price will surge, remember it hit mid .50p's on the last news.
It is also worth remembering the last interview with the CEO when he implored shareholders to stay with the company as a great deal of value creating news was upcoming.
The sector has gone back into underperform mode over recent weeks but this does not mean individual stocks cannot multi-bag if the right news hits the market.
This is not a time to be out of ORR IMO.
I see PREM have placed yet again, they have raised £5m since December, the share count is now approaching 28 billion, they owe the Chinese circa $30m who have pre-payed that sum for Lithium deliveries that should have happened last June, PREM are in breach of that contract.
Investors continue to chase the stock despite it having a remarkable £80m m/cap, Lithium prices are on the floor.
VAST is valued at £3.75m with debt of circa $8m, a remarkable divergence in valuation between these two companies.
Just saying.
CNSL are currently in Dubai, an area which the CEO describes as important for the company, clearly they are making inroads into new countries which further enhances the growth prospects.
The bull case remains here, note the somewhat pathetic attempts by certain entities to attack the bid with small sells throughout the trading days, been going on for an age, then all of a sudden someone snaps up 250k/500k of shares - still think a bid is on the cards.
Jag comment...
'We are up and running at Medlab Dubai with our long standing partner Babirus for Medical and Laboratory Supplies.
We look forward to meeting customers, partners and prospects in what is an important region for us'
Womo
The company has stated the situation at Senala some time ago regarding the JV with Managem Group, basically saying they have not carried out work since they acquired Iamgold's stake.
This means ORR would have a clear idea of how much is owed and what % the JV partner has secured, my bet is a deal has been done at Indaba and the process is being scrutinised by the Nomad (due diligence etc)
The company are usually very good at keeping the market updated when timelines are in play. I suspect the current market maker shenanigans with the share price are for a reason, this happened before significant news was delivered resulting is a share price surge past .55p at one point quite recently.
I took more yesterday, the offer moved from .36p to .40p subsequently which shows how sensitive the stock is to buying pressure.
I see Banburyboy is still bashing 24/7, it's about time Bell carried out his threat and exposed this individual who has delivered nothing but negativity on RRR day and night for a very long time indeed.
It is rare a CEO posts a threat to an individual like Bell did a few weeks back, for certain BB has assisted in shareholder losses, 220 venomous posts on RRR in the last 30 days, ask is that normal without a motive, who is this person and what financial gain is coming from these posts and to who ?
The very fact that BB seems unperturbed by Bell's clear warning tells you all you need to know, he is prepared to risk possible financial penalties to carry out this crusade.
In the meantime the bashing cheerleader has been joined by a few new 'names' to back up the agenda, what a sorry lot they all are spending night and day bashing a £3m m/cap minnow, they say for no financial gain, who are you kidding !
Over and out.
Expect another salvo from that wretched share bashing site Sh@repr@its today, for certain their bashers will appear here soon enough, the posting method of a recent arrival seems to be party to such an outfit.
Oh this market, what fun, no wonder there have been so many city redundancies and brokers going under in recent years, even the ones that remain run on shoestring balance sheets, killing the goose (private investors) that lay their golden eggs is to these entities ultimate downfall.
Anyone trying to short this could get seriously burnt if the diamonds come or if the Swiss investment company delivers funding (or debt) above the current share price as implied.
It is clear the overall debt of VAST has been a drag on the SP for an age, if it is cleared or restructured then that would be a positive.
Just saying.
I wonder what else was discussed, there are buyers of RRR above .10p, it takes a while to re-rate but it looks like RRR share price is doing just that, the market today was not the best either.
https://x.com/ABell2019/status/1757390240275165325?s=20
Looks like a re-rate has begun here, the stock traded at 8.5p in November, moving above the 200 day MA is significant, very little near term chart resistance to 6.5p for a start.
Interesting the CEO also said they had received offers for one of their properties.
Recent tweet.
https://x.com/Share_Talk/status/1757062311829712982?s=20
Looks like the bashers are getting desperate led by cheerleader Banburyboy + the various multi alias bashing accounts, they really have no understanding of market matters, continually refer to historic events, one does not even know what Telegram group is, oh dear, age is really showing !
In the meantime those shrewd investors are buying, why well just lets wait and see.
All of these minnows go through cycles, back in 2021 RRR was valued at £17m at one point, the shares hit 1.35p in February 2021, they have the same projects + a potential windfall of $7.5m/$10m and are now valued at £3.8m.
Buy low sell high, some of the bashers prefer the other way around and are extremely bitter.
News has to come soon enough of Senala, it has to be this month, as previously stated there are 2 price driving outcomes and one neutral one in play.
I would suspect ORR would be pressing hard for cash, either outright stake sale or the $2m for the partner to take up their 70%.
I firmly believe ORR have no interest in Senegal (they said it was non core) other than retaining some royalty arrangement and/or if a full sale occurs it being staged based on how many oz of gold is discovered over a period of, say, 5 years.
Rather interestingly the book firmed up significantly at the open of trading this morning and remains stronger than at any time over the last few weeks. One wonders if an update is coming sooner than later therefore.
From X
#FCM First Class Metals looking well and truly oversold on the daily chart.
I have it on good authority that a distressed seller has finally been cleared. I see no reason why it cannot go on and fill that 6.90p gap (24 November 2023).
https://x.com/mrcod72/status/1756642913205784970?s=20
It appears the oil project RRR are looking at is in Mexico, we will see in due course.
The photo is of a oil well head.
Mexico is one of the largest oil producers in the world (with 1.6 million barrels produced daily in 2022), and the fourth largest in the Americas after the United States, Canada, and Brazil.
https://x.com/RRR_RedRock/status/1756053889168675311?s=20
Has anyone noticed how the multi alias account bashers become hysterical when the share price starts to rise, they up their posts significantly, how pathetic.
In the meantime the clock ticks down to news, it could be multiple RNS's concerning a number of projects, Congo cash, new strategy etc etc.
This is a podcast from Indaba, the first 3 minutes give a flavour of the demand and interest that has returned to the sector, clearly the atmosphere for doing deals has significantly improved, this should be beneficial for ORR, I expect news shortly.
https://x.com/RoastPR/status/1755621930785259982?s=20