Member Info for HawaiifiveO

On a technical basis the shares are materially oversold with the RSI at a 10 year low, there was support around 50p yesterday and some chunky buys circa 53p range.

It is not inconceivable the share price could recover 20%-30% quite quickly therefore.

DYOR etc.

Still significantly oversold on a technical basis, for certain a mixture of stop losses being hit and panic selling, defensive market maker action, ideal recipe for a material bounce ahead, folks who hold their nerve during such events are usually well rewarded.

Is it possible the company will do a media event to clarify matters, that could be beneficial.

This is massively oversold from a technical perspective, the RSI sits at just 7, never seen such a low RSI before, expecting to see a significant bounce.

According to my calculations ORR Exec Chair Eileen Carr has invested £260,000 into ORR with a average price of circa .17p, she is currently down £145,000 on her investment, her 1st purchase was in March 2022 and her last being in April this year.

Indeed a more honest appraisal of the situation and finally offering up some nuggets which could deliver material value, interesting that the JV partner has to spend $2.4m at Senala by end February or pay in cash the difference to ORR, so far their historic speed of drilling suggests they will miss target and therefore have to pay some cash to ORR, potentially $1m IMO.

Also the suggestion ORR may sell their remaining stake in Senala.

Hopefully this comprehensive update will stabilise the share price and start to move it back up.

Premium being asked for only £1000 of shares despite recent mark up to .22p offer !

To be honest I am really lost for words over what has happened here, the recent interview (linked below) hardly fills me with any confidence, even as a recent buyer around the .10p region I feel mugged.

https://youtu.be/JPoGgb0_AAI?feature=shared

TL looked to be clutching at straws when asked about share price catalysts and BS did not seem to understand the seriousness of doing a deal with Lanstead, commonly deemed a 'death spiral' however he dresses it up, also note that now the shares have been issued they cannot extract themselves from the financing like Bluejay, Red Rock and others have done over recent times.

BS said that the ongoing drag on the share price was due to market concerns over potential placings (note no blame on management failing to deliver self stated historic goals hence loss of market confidence) if this project finance does not come then how will they fund work programmes ?

I would have liked to suggest they could be trying to sell their stake in Senala, but as they have failed to complete one material deal in 5 years I very much doubt this is likely.

This fellow posted on the Oriole Twitter feed the same day the funding was announced, he was a Dept Head Market Maker at Merrill Lynch for nearly 2 decades, my understanding is he has supported ORR placings in the past, his analysis of the deal was damning, here are the links ...

https://x.com/patviera/status/1686645739684798464?s=20

https://x.com/patviera/status/1686697316563005441?s=20

https://x.com/patviera/status/1686697615579115520?s=20

https://x.com/patviera/status/1686697856286048256?s=20

Well some news at last, quite positive, hopefully much more to come...

https://www.lse.co.uk/rns/ORR/wapouz233-project-update-cameroon-gz2ubjk1c6d0my0.html

With a illiquid stock like this you need to buy when it is quiet, from a technical perspective the RSI is in oversold territory, the floor is probably in, the stock hit 15p exactly 1 month ago, can now be bought for 9.35p - cannot see this price lasting long either.

DYOR etc.

Legalwolf

You make a sound and sensible point, as I have suggested they have cloned Senala (Senegal) a 470 sq km licence area which has had £10m spent on it over 10 years via various parties into Cameroon.

Cameroon is nearly 10 times the size of Senala, despite 10 years of exploration in Senegal the market has ascribed no value to this exploration activity or significant spend, with the JV ending in Q1 next year it looks like ORR will be reduced to an eventual NSR meaning the entire process has been a waste of shareholder funds and resources.

Livesey & Co need to explain why Senegal has delivered nil value to shareholders and what will be different in Cameroon where they are embarking on another long timeline process.

My view is the current business model is totally flawed, at the very least they need a significant JV partner in Cameroon, how the heck did they expect to fund Cameroon in the first instance, via placings over another 10 years, nice for the directors but not for long suffering shareholders.

Investors have to decide whether ORR is simply a lifestyle company or not, giving Lanstead 29% of the voting rights at a time when there were rumblings of discontent concerning the BOD, a cynical thought might be they did it to avoid concerted shareholder action in the months ahead thus diluting voting rights, who knows.

You will not get answers because in my considered opinion the BOD consider themselves impeccable, so isolated from reality they cannot see their clear failings.

It is easy to deliver messages through biased media outlets and PR flunkies, they ask scripted questions, the aim being to keep companies sweet for their fees. It is entirely different facing disgruntled shareholders face to face who will ask hard challenging questions and demand answers.

This week we will know if they can deliver the project finance or not, if not who will they blame, shareholders, legacy Stratex investors, bulletin board posters, market sentiment, etc, etc, etc.

I really hope they do deliver, if they do then then fair dues and everyone will benefit - time will tell.

This is from the Interim Report for the period end June last year, a statement made by Eileen Carr, reasonably early in her tenure so presumably being advised by others....

'The wider portfolio of receivables in Turkey totals approximately US$1.7 million and, although progress to date has been slower than anticipated, their collection is anticipated over the next year.'

They have failed to collect this money of course, the Murtadere royalty sale has been further delayed and the Elephant Oil float (which is only potentially worth $250k to ORR) has not happened either.

The interim results are imminent so all will be revealed, some comment has to be made over the way forward, one does have to question whether the Canadian project funding has hit the rocks, 5 trading days to end Q3.

The last interview with Blytheway they suggested project funding from Canada, separate project funding mooted concerning Lithium in Cameroon, suggestions of cement production in Cameroon (yes cement production !) via some royalty arrangement and finally talks with interested parties over small sale gold production at Bibemi.

The other not insignificant matter is concerning Senala, the JV ends in Q1 2024 so what happens next, ORR will be left with 30%, they are skint so the only option is get diluted into a NSR (effectively losing their 30% and historic spend of £5m/£6m) or can they sell their interest, I have no idea, I suspect they have no idea either, this assumes the partner wants to keep the project.

No-one has a clue as to what is going on, they have not had a in person investor event for some years (ignoring the trade events which are not retail investor friendly) the question is why, one suspects they are wary of critique.

The problem with this management team is talk is cheap, delivery is another matter entirely.

My thoughts are shorts are out in droves this morning, when they switch sides the shares will rebound strongly, many (negative) assumptions being made for a purpose.

DYOR etc

These results are excellent if they have come from the stockpile which presumably was extracted near surface, going deeper the grades could be higher still.

Finally some very positive news from Red Rock.

Those 4p warrants are approaching expiry (early November) then expect a bid, the bashers have been active 24/7 for 12+ months for a reason.

Once the warrants are clear it is easier to make an offer, current m/cap circa £6m with at least £4m in cash + a substantial claim against the UK Gov, the trading division in in at ZERO, the bashers have done a great job, combined with woeful market conditions.

Who are the bashers working for, probably a competitor.

DYOR etc.

Great entry point this, MM'ers have taken out stop losses early doors, the shares are materially oversold from a technical perspective.

Shares traded at .80p in May.

Current m/cap a mere £7m !

DYOR etc

Kutzz

The Lanstead deal, as it stands with the current share price, does not even provide enough cash to fund monthly G&A expenses.

Coyote2020

I will ignore your commentaries, you might as well be working for them given you appear blinkered to the actual situation, ORR is one of the worst performing stocks in the sector for a reason, since the high of Q1 2021 it is down 95%, yes 95%, for a reason, lack of credibility IMO.

One for you, they have replicated in Cameroon their Dalafin/Senala project in Senegal but Cameroon is nearly 5 times larger, in Senegal a mixture of Stratex/Iamgold and now Managem Group have spent circa £10m over 10 years, where is the value in ORR's share price for a decade of spend, why have they not monetised the project like Chesser Resources did in 3 years, at one point Chesser m/cap reached £80m.

If they cannot add value after 10 years in Senegal how can they add value, when totally skint, in a licence area 5 times the size in Cameroon ??

Their business model is flawed in my view, the commentaries from the BOD vary dependent on their mood swings.

Yes I hold and even at my entry point of .11p one wonders if there will be upside enough for a trade, the current CEO was appointed to restore shareholder value back in 2018, 5 years on the share price is .10p verses around 1p when he took office. Poor !

It was interesting the Lanstead deal was announced after the AGM, had it come before I can assure you I would have been there !!

As end Q3 approaches one has to consider the real possibility that the Canadian investment will not come, if this is the case what will happen next.

Over the years management have made many claims concerning 'interested parties' sale of legacy assets, potential JV's and other positive noises concerning creating value for shareholders, alas none have come to fruition to shareholders cost. Is the purported and modest sum of $1m from the Canadian investors about to fall on stony ground also ?

If this money does not come what next, as the rainy season subsides in Cameroon ORR need to progress work but are totally cash strapped, the share price has been trashed as a result of market sentiment concerning the 24 month Lanstead deal, would they really issue another 1 billion shares to raise a miserable £800k, you would not put it past them given recent form.

The 6 week expiry on the 1st tranche of Lanstead cash is imminent (6 weeks from date of admission) I make that next Monday, they will barely receive half of the the implied £74k (based on the .253p Benchmark price) it could be less than £30k, this sum barely covers the monthly salaries let alone other PLC costs.

The new story is they expect the share price to rise over the remaining 23 months to make this deal attractive, is this yet another pipe dream or is there any real substance to that claim, the silence since 'that' 1st August RNS is deafening and worrying.

Have made some enquiries in certain circles, the company seem to have no appetite to appear in the usual investor forums in public currently, in fact they have been exceptionally reluctant to meet prospective investors in person for several years, they need to realise that retail investor interest is imperative in the junior space.

It is time for them to step up and walk the walk, no-one has a clue what is going on, do they know themselves even?

DYOR etc.

This was tweeted earlier today, it concerns the CLP in Cameroon, shows progress made, maybe trying to entice finance ??

https://twitter.com/OrioleResources/status/1701519084251132161?s=20

It is interesting that William Black has increased his holding recently, he is allowing First Equity to trade his position so what do they know, maybe something relative to todays volume spike.

Has Bell made progress in the DRC, are there developments re lithium in Zimbabwe or some other event across the suite of projects ?

One piece of half decent news and the shares will move strongly.

Early 4.5m buy.

IG quoting .13p for 5m shares, a large premium, they want .12p for just 1.5m (£2k worth) a number of online brokers are 'at best' for any size currently.

Frankly I think the market is bamboozled given recent news and is struggling to price ORR accordingly. One thing for sure it does seem the floor is well and truly in here.