Member Info for HawaiifiveO

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I could not care less whether you are happy to hear both sides or not, your posts are misleading, not factual and need addressing.

It is clearly evident that you and your fellow rampers are posting any old clap trap to entice souls that may have no understanding of market matters to buy stock and pump the share price, this happened during the Covid bull market where novices were buying junior stocks near all-time highs and are now sitting on losses north of 70% - previous ORR rallies have resulted in losses for those buying the spike.

Are you aware that Elephant Oil consolidated their stock 1 for 3. ORR's holding has gone from 157,500 shares to 52,500, so if EO float at $4 the stake would be worth $210,000 (£180,000) not the preposterous $448,000 - your 2nd post then suggested £448,000, readers will make of those posts as they will.

You cannot even find the RNS that clearly states that Oriole received the R&D refund of £400,000 in April, they have had the money, end of - to suggest and promote it is coming imminently is nonsense and misleading. Here it is for all to see.

https://www.investegate.co.uk/oriole-resources-plc--orr-/rns/r-d-rebate-from-hmrc-delivers--403k/202204120700030140I/

You then suggest that the Muratdere EIA is expected shortly, are you a clairvoyant because no-one knows when it is coming, in Turkey everything takes a very long time.

You are out of your depth posting here, all Oriole shareholders want to see value but it will not come until they sort their funding out, they need cash and they need it desperately, around this time last year they raised £1.7m and the year before £1.5m - their cash balance, according to my estimation is circa £280,000 right now.

The question readers need to evaluate is this a pump and dump or is it ploy to get a placing away, on AIM brokers often manipulate a stock price ahead of a cash raise, if you know where to look you will find AIM CEO that saying exactly that.

If there was a real value event ahead buyers would be quietly building positions, not ramping on bulletin boards.

DYOR etc

I have to say the new arrivals need to be very careful and read the FCA warnings about postings on bulletin boards, there have been a number of VERY inaccurate and deliberately misleading posts made today to try and ramp the share price, these entities are either a P&D group or possibly working to ramp the SP to get away an equity raise.

In an earlier post I put the reality of the situation out in the open suggesting the cash balance of ORR was circa £280,000 as opposed to one post from a new arrival suggesting it was or will be north of £1m.

The latest effort implies that ORR are about to receive a £400,000 R&D repayment, this was paid back in April, even if they qualify for another in FY 2022 it will not arrive until next year.

As for the Elephant Oil listing, the exact SP has not been fixed and neither has the 1st day of dealings, so how anyone can suggest the ORR will have a value add of $448,000 is anyone's business. The documents sit on the SEC website but until the funding round is completed it is a guess as to the exact 1st day dealing price.

For anyone thinking of piling in do your own careful research, longs here all want ORR to do well but remember the cash position is exceptionally low by company standards, they need to raise cash.

Today's volume spike suggests it is a pump and dump.

https://www.investegate.co.uk/condor-gold-plc--cnr-/rns/condor-gold-comment-on-us-sanctions/202210271749384084E/

A host of new names hitting the bulletin board all at once should make anyone suspicious, some posters have been around ORR a long time and know the company inside out.

Some accurate comments on the bank balance....

On 30th June they declared a cash and receivables balance of £497,000, the liabilities (near term payments out) stood at £331,000, leaving £166,000.

They added £340,000, there would be costs of at least £20,000 to the broker on that raise so let's call it £320,000 net, add back the £166,000, they would have £486,000 at end June.

Monthly burn, salaries, listing costs etc run at at least £50,000 a month, from end June to current - deduct £200,000, leaving a current balance of a modest £286,000.

You cannot run an AIM listed company for long on such a low number, Oriole needs to raise funds, can they do it by an asset sale, maybe - they have been suggesting asset sales for the last 4 years without results. So what does that leave?

I do not want to burst anyone's bubble but until finance is sorted regrettably nothing has changed from when the share price offered up a bid of .13p earlier this week.

Fact is Oriole's bank account is near to empty, they need to raise cash somehow, they raised £340k back in June issuing 188m shares at .18p with the same number of warrants priced at .25p, those shares and warrants will create something of a wall moving forward.

In respect of the posts concerning net assets v market cap, well nearly £11m of those 'assets' are intangible, they can be written down in value at the stroke of a pen which has historically happened at Stratex/Oriole more than often.

I am all for promoting a company where I see significant upside but until Oriole raises meaningful cash then some caution is required.

The interesting aspect of today's update was the cash position, during the Investor Meet presentation held on 14th September the CFO stated the cash position was £2.5m, some 6 weeks later it remains at £2.5m.

That indicates to me the company may be cash positive and certainly not leaking cash like before.

In all the update was quite bullish, we still await the £4m cash balance from the sale ofCD4 - that could arrive at any time and would be a material event.

The CFO said on 14th September he considered Omega to be undervalued, I for one agree.

Someone dumped 3.5m shares earlier at .14p it raised a somewhat miserable £4,900 - back in Q1 2021 the shares would have cost circa £60,000.

The extent of shareholder value destruction over the last 18 months is staggering.

The market is asking a decent premium for larger lines of stock currently, I would not be surprised to see the share price recover further later.

With Jim Mellon as Chairman there will be no messing around, he will want to extract maximum value for shareholders.

The market has overreacted, it represents an opportunity, I have taken stock this morning.

Down 19% on relatively small volume, 780k traded, around £200k.

Remember who the largest shareholder is, the recently appointed Jim Mellon !

The market is just catching on to the significance of today's announcement, the current market value of Empire is totally out of kilter with events.

XTR made a similar announcement and their market value moved from £7m to £55m at one point, EEE is currently valued at a mere £7m

Empire also holds circa £2m in cash.

The shares are dirt cheap, even at 5p Empire would only be valued at around £20m

It was an announcement like this that took XTR from 1p to 9p in quick time, I think Empire will re-rate accordingly.

I concur with the post below and have added to my position at current levels, also noted there appears to be a constant buyer of RRR if any material stock comes onto the market.

There does appear to be some positivity around the retail space that the junior resource sector has bottomed out, hardly surprising when some stocks are down 90% from their Q1 2021 highs, combined with upcoming news-flow across 3 or maybe 4 areas of RRR's portfolio positive sentiment could return quickly.

Also worth noting, over a number of years, buys of Red Rock below .40p have offered good returns, buy low sell high !

The copper market’s available inventory is normally marked in weeks. Currently, only 4.9 days of material is available, falling to 2.7 days by the end of the year according to Trafigura who know a thing or two about these things.

https://twitter.com/GianniKov/status/1583745392684171264?s=20&t=3uB0kgNlkqrvc-gtmS_v_g

They must be confident they will get the financials sorted due to the fact they are presenting at Proactive in London on November 24th.

I spoke with one of the Proactive team in late September the person suggested they were struggling to fill events, on that basis it would suggest Rambler were approached recently, I deem it positive that they are happy to attend therefore.

I feel the update today was positive, to me it seemed like a come and get us request for a well-capitalised third party to deliver value, one cannot rule out a takeover approach therefore.

SteamS

No it does not, it clearly states the mine is generating free cash flow but not enough to pay back its debt repayments as they stand now, this is why they are seeking a re-organisation.

The RNS seems to be a promotion to others suggesting what a great opportunity RMM is to a prospective acquirer.

There is significant value here if only they can re-organise their relatively small debt.

Kutzz

Yes I do have a modest position, thankfully my larger holding generated a good profit when the share price spiked to nearly 2p in Q1 2021 - I have followed this company for many years going back to the days when Sprott, Anglo, Teck and one or two other significant mining companies were on the share register, they have all moved on.

Despite my small holding I feel obligated to post my views on this thread, I have a number of positions across the sector, all have performed poorly but ORR is the only company to be financially distressed, i.e. having a near barren treasury.

I have no idea if the BOD are capable in addressing this issue without penal dilution, as posted prior, not long to find out IMO.

Bell is still tweeting and re-tweeting furiously so one can only conclude he is still stuck in a Congo hotel awaiting meetings and has time to kill.

One thing that remains, he is deadly quiet concerning affairs in the Congo (seeking RRR cash payout of $7.5m to $9m) so is that meaningful or not ?

I think the recent sale by Iamgold of their Rosebel gold mine further confuses the situation with Oriole, are they committed to Boto/Senala in Senegal or is this another project they want to sell ? I have listened in to a number of their results conferences - they have been under pressure from their major shareholders to return value, one suspects more asset sales are likely.

Would Iamgold want to buy out the remaining 30% of Senala while not having finalised the 2nd stage of the JV (a spend of $4m over 2 years) I am not so sure, it makes no commercial sense IMO.

Based on the JV terms in Senegal ($8m for 70%) it would indicate a value of around $2.5m for ORR's remaining 30% stake, that is a reasonable sum of cash but what a waste of potentially significant value for short term cash.

The interesting aspect, to me at least, is the totally untroubled look on Tim Liveseys face when he carries out various interviews, he seems blinkered to the fact that shareholders have lost a very significant amount of cash, in some cases individuals are down 90% in 18 months, it's all very odd - dare I say concerning.

Some announcenent on the way forward must be imminent IMO.

Given the discount ROCK had to endure to raise a measly £375k one would suggest that ORR can no longer place stock without a capital re-organisation.

The late news concerning Thani Stratex means another legacy asset that cannot be sold, in fact apart from the Muratdere copper project NSR position in Turkey there is little else in the cupboard, the legal cases in Turkey (pursuing around £1m) have been going on over 6 years with no signs of success.

It really is starting to look dire here, no cash, massive licences in Cameroon with historic spend of circa £1m pa, locked into Senegal with the Iamgold JV who are in no hurry to develop and nothing to excite the market.

The only hope - are they able to bring in a significant JV partner into the Cameroon exploration project to fund it, they have said in the past it is too early, they may now be forced into something they do not want.

Bit of a broken record but until the funding situation is clarified then the shares will continue to sink, even if they go into significant cost cutting the treasury is nearly barren so whatever management suggest about low-cost exploration it simply does not cut the mustard IMO.

In the long history of Stratex/Oriole things have never been so precarious.