Investor Event28 Oct 2025 06:34
I attended the recent investor event and I am glad I did, as you know I have my reservations over a number of issues, mainly historic I would add. I pointed out to various members of the BOD that the event was their first since 2019. I am sure if they had more of these my (and others) critiques could have been addressed informally and not on a public forum which can damage sentiment.
My understanding was it was their broker who strongly urged them to have a informal evening, it was exceptionally well attended, all seats taken with many standing at the back, that surprised the event organiser and the BOD, another AIM junior resource company that is well followed on the bulletin boards, a month or so earlier, only had 14 attend I was told.
I spoke to most of the BOD and the broker, very interesting, it was very clear that all really believed the company was in the process of delivering material value to the shareholders in due course, call it what you will, 1st mover in country, major gold trend discovered, it has all been discussed here.
I believe it is essential the company has a couple of these events annually, you really can get a feel of sentiment when attending, you can iron out 'issues' and reduce the heat on topics that are of concern informally. There is no doubt ORR is very well supported by the retail investor community, I was informed that there are many shareholders sitting just under the 3% declaration threshold for example.
I addressed the topic of funding, at the time the MRE had not been RNS'ed, the CFO said they were waiting on that, reiterated by other BOD members, my understanding was they had a cash runway however my workings suggest that is of limited time given their monthly burn. So do not be surprised to see a raise as the MRE did not deliver $1m from BCM.
There is the potential of new non dilutive funding such as asset sales, however, shareholders all know how long those have been talked about, they may also be in receipt of a tax credit but I guess relatively small.
So maybe the weak share price post MRE RNS is a result of funding worries, I heard one attendee tell the CFO to just get it done, maybe they should, the broker felt there would be good demand in the current environment, we will see.
DYOR etc.
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