RE: Dropped in to see how the pot was doing..18 Oct 2023 12:07
I honestly believe the management think they are working for a mid cap or major with a treasury full of cash, are they really, truly, aware of how they have destroyed sentiment towards the Oriole investment proposition.
Recent interviews, hardly Jeremy Paxman esq, have not addressed the circa 95% share price drop from Q1 2021, ORR is one of the worst performers in the junior space, why does good old Mr Blythe ask management how they feel about shareholder losses for example, what precisely they are going to do about it, rock chip sampling will not suffice !
In the past when times were more buoyant many were critical that management did not bull up the investment case to propel share price growth, the reply via interviews was that everything has to be done by the book and they (the management) were not going to ramp the share price for short term appreciation as this may effect the attitude of companies that they might buddy up to via JV. Well that policy did not work did it.
The problem with the above is AIM is a market of rogues, nothing is as you would expect, there is forward selling of placings, leaks, short sellers, market maker antics (usually to the short side) even brokers have been found to foul play their own company.
It is essential to know the right individuals and have a network in the City so during times of stress you can call on HNW investors to assist with financing, another area of benefit would be an association with the right social media promotors, over recent times some have 'retired' but individuals with 10k+ of retail investor followers can be more influential than some stuffy PR company, I recall many a time when a tweet from such an individual could move a SP 20%/30% for example.
None of us, have a clue to how this is going to end up, if Cameroon is the next Tanzania for gold discoveries then why is a major not falling all over Oriole to get in and JV, why is it taking so long to secure just $1m from a supposed consortium of investors in Canada, for goodness sake there are individuals in the retail investment community that could provide that cash out of their back pockets, contacts, contacts !
Yes the sector is going through a terrible bear market, in such times you need management that have a flexible and dynamic approach, management investors have confidence in, is that the case here ??
DYOR etc
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