Member Info for hunniford

Anyone know what a kidney goes for these days? I'm trying to figure out how to raise cash to get in here :o)

To be fair I'd probably have to offer a discount on mine, it's been well used!!

Ha good point Troj.. but someone has the mop out here, fascinating to see how this plays out. Current MCAP is seriously undervalued. If only i had the cash.....

Someone is totally coining it in here with buys, ORR leadership keep a tight ship but is the sieve about to leak?

The secret millionaire is back!!

5m buy coming into the close, interesting!!

This wants to break the .40 barrier and with some comfort I think. Technically we should be poking over the .5s with what has been achieved to date. Lots of opportunity to buy in and make money here as a lot has been de-risked !!

It was great to see the RNS news on the Senegal license renewal today. I believe I mentioned back in Feb as the clock ticked down, this would take time. Obviously, Orr & Mangem are entwined in a relationship, but first things first was to get the licenses renewed and over the line!!. Which the RNS today confirms!!

The key thing for me, when reading the RNS is this statement…..

“In accordance with the Senegalese Mining Code, the surface area of the Licence has been reduced by 25% and now stands at 354.5 kilometres squared. In order to retain tenure over the key prospects identified to date, in particular Faré and Madina Bafé, the Licence area has been split into two blocks as shown below. The new Licence is valid for a period of three years from 17 February 2024.”

I believe the highlight being, the license is now split into two blocks. So, if Mangem doesn’t have the funds or the desire to support or take the entire license, there are now more options. For instance ORR and Mangem could continue and develop Madina Bafé since that is closer to the Mangem Boto project.

This also opens options for Faré to be spun off which Tim has often spoken candidly about being it’s own incredible project. That could go to someone else, for a lot of value!!

The super interesting fact is…because of the renewal, the territory got reduced by 25%. This is very significant, keep doing nothing and renewing a few times and what do you have left? A real credit to ORR leadership for navigating this license renewal and keeping the crown jewels of the licenses (Faré and Madina Bafé) in the portfolio!!

When you look at the current MCAP of ORR. It shows we are way undervalued and as a reminder we have a leadership team that owns a significant part of this company!! It is often easy to criticize these guys when the SP dips but a lot of intelligence goes into keeping all these plates spinning!!

A decent day, a nice rise. Also some good debate from fellow forum folk this week. I value all opinions and to be fair everyone is cordial and I respect that!

As a core we want the best for the company. Comparisons with GGP are just that, speculation. What we do know is some of these assets could be ticking time bombs we also have a dedicated leadership team, who tend to skip the BS and tell it like it is. Tim is a bit like the religious zealot who stands outside a supermarket in Aberdeen on a wet winter(when doesn’t it rain in Aberdeen) Saturday morning, trying to convince disinterested folk that the day of reckoning is coming. Preaching the gospel of Cameroon. Well… it looks like the day of reckoning for ORR could be coming soon!!!!

Buckle up folks 😀

We seem to be holding the line in the .3ss potentially bye bye to the .2s news to come in Cameroon this month!!

@Catbert - Like I said in my post........

"If you do believe they [Lansteand] have sold more shares equivalent to more than 1% since the 28 Dec TR1 which would be a change of their remaining holdings since their last TR1 of 28 Dec then you should report this."

This is a moral obligation to the market in the spirit of transparency. No point people whining here that they think it may have happened and doing nothing. I have merely offered a means to report if people feel so strong , then report. If they don't then don't report.

@Wolfie because there are rules around transparency for reporting material changes within a company. So why should Lanstead be allowed to abuse this and be less transparent. Ultimately, I find when an organization doesn't follow the rules then they often have something to hide!

Also wouldn't you find it useful to know if Lanstead had gotten down to 15% or 10% of their holding in the company left. Or alternatively it would be also interesting to know if they were sitting at 19.99% suggesting that they hadn't really been selling since December 28.

Many of us believe Lanstead has not been duly notifying the market of their material change of holdings. So if you want to report this to the FCA here is the link to report it under:

https://www.fca.org.uk/market-abuse-reporting-form

Also here is some text with info that could be used but feel free to use your own. If you do believe they have sold more shares equivalent to more than 1% change of their remaining holdings since the last TR1 of 28 Dec then you should report this.

--------------------------------

On 1st August 2023, Oriole Resources (ORR) announced through an RNS that they had entered into a Subscription and Share Agreement with Lanstead Capital Investors L.P. ("Lanstead"). This agreement involved a subscription for 930,000,000 new Ordinary Shares, referred to as the "Lanstead Subscription Shares," at an issue price of 0.19 pence each, aiming to raise £1,767,000, known as the "Lanstead Subscription." Additionally, Lanstead was issued 83,700,000 new Ordinary Shares. Immediately following the subscription's completion, Lanstead's stake in the company increased to 26.23%, representing 1,013,700,000 shares.

A TR1 notification was released on 19th December, indicating that Lanstead's ownership had decreased from 26.23% to 23.26%. Another TR1, issued on 28th December, showed a further decrease from 23.26% to 20.99%. Since these notifications, no additional TR1s have been issued to report any significant changes in Lanstead's holdings in ORR. Despite this, the daily share volumes often indicate an unusually high number of sales that does not correlate to news information flowing from the company, suggesting that Lanstead probably have sold additional shares without providing the required reporting of a significant change in ownership.

I suspect Lanstead of not adhering to the necessary transparency and reporting obligations. I urge the market abuse team to investigate Lanstead's conduct and remind them of their reporting obligations including the timing of when they should inform the market.

One of the ways to look at this is in the bullish statement from the Chair. Sure it’s her job to be bullish, just like any of the senior roles. However, last April she invested almost 200K of her own money. Some could argue “well she’s probably wealthy so she can afford it” or similar rhetoric. However….

1. Wealthy people are generally wealthy because they don’t or don’t like losing their OWN money.

2. Her occupation by trade is accountant, accountants are generally cautious people with money

3. She moved the acquisition into her SIPP, which suggests this wasn’t a frivolous action, tax efficient possibly yes.

4. Her DOB is listed as 1957 (source companies house) which makes her close to retirement age, which would suggest she would be seeking a return on that investment in the not too distant future!

Sorry Eileen if you read this, not trying to be ageist with the last point!

Sure this is a gamble but the stocks that really do well are those that are often unloved by the market and are picked up by the brave when the market gives them a kicking. I tend to agree with the sentiment that this should have a market cap way higher than it currently is.

Why would BCM choose to invest in a dud when they have so much experience in this sector, is it because they just like wasting their money too? Obviously we will need some results from the drilling for others to see before the penny finally drops. Let’s hope we get some cracking results.

I flew over Cameroon on Tuesday night on my way down to Capetown and raised a few G&Ts as the plane passed over. When we get to 1p I’m definitely thinking of a field trip out to one of those licences!!!

Yeah agreed, it also depends what folks end games are. I think this is being prepared for a sale to a larger entity. The leadership team have done this in the past. When the chair bought she moved her stock into her SIPP a nice buyout of ORR would be a great retirement deal! I don’t see this being bought until Lanstead are out, probably too messy but at the end of Lanstead the company will likely seek to raise again. The logic would be we have created more value in the biz. So management do need to keep the pace up since time waits for no man nor beast!

That said if we can create value and make it into the lofty heights of 1p+ then a buy out at a much higher price would be some sweet sweet money from these levels.

So all we need are some decent results in MBE & Bibimi then a couple more licences secured with JVS ….FOMO. A smattering of luck in Senegal, although to be fair if we can get good results in Cameroon we can afford to let Senegal sit since it is also on decent grades. Maybe if we can start mining that cement we can build a big shiny gold district in Cameroon.

When this does pop (which it will) it could move very fast!! I’m intending to buy a few more at these levels and not much higher, not because i don’t believe the higher SP will add value but just because i believe these levels are insanely cheap!!

Good luck all & keep the faith this management team know how to find the shiny stuff they may not be able to control the day to day but if the shiny stuff is in the ground this that won’t really matter!!

This is also a company where the insiders have a decent sized amount of Skin in the Game!!

We need volume, until we get more volume and interest this will be like tumbleweed. How do we get volume, more good decent news will help. The company started of the year was some decent comms that helped to build hype like several RNS around the BCM deals etc etc. So I’m sure they are working something up in the wings!!

Maybe a little retail consumer pressure to the FCA is required, in the form of reporting on Lanstead for not being transparent about their holdings. FCA I believe has the power to fine them about this, although in reality are overworked so i wouldn't hold breath on anything happening fast but it may make a difference in the longer term if Lanstead got a warning.

The problem I have, is that I can't see anywhere in the AIM rules where the company must report a 1% change in 2 trading days, I had Chat GPT looking for it too and while it suggested this was the cases, as soon as i asked it to show me the exact rule, it couldn't.

We appreciate the running commentary luckyabigale, or sorry Elon!

Yeah I was pretty happy with it, appreciate him doing the video. The insiders and leaders of the business are investors also. Many participated in a salary sacrifice scheme and of course the chair dropped almost £200k of Oriole stock into her SIPP.

It is one thing getting warrants and share options but to sacrifice salary income for shares and invest personally aligns them with what we are doing.

This one really is a case of sit and see, eventually the masses will catch on, until then it may be a bit boring but I believe any position taken below 0.5p will at least have a fairly straightforward 100%+ upside hopefully before the end of the year!!

Agree with your buying sentiment Hawaii, that was what i was alluding to albeit slightly tongue and cheek, for LTHs I think this current price is good but I'm already holding more than I wanted to hold here but if the SP keeps dropping on no news the risk reward in my mind will tell me to buy more. That could turn out to be a good or poor decision, who knows??

One thing for sure I was messing around just below the .02s before the news came out and knowing the BCM confirmation news was almost certainly coming coming but I though it would drop to .017 so I had a target there, then the news dropped and I ended up buying much higher around 25 & 28 etc.

So it just goes to show what this share can do when news comes. Trying to save a few quid ended up costing me more!!

Interesting point but I do not control the market, if I did we would be above .5 that's for sure. Everyone is free to buy and sell as they please. For instance someone could have bought a truck load at .0008 and now they want to sell at .0027. Everyone has to control their own destiny. For every buyer there is a seller. You bought at .28 someone probably sold at .275 to facilitate this.

You probably shouldn't focus on the short term price movements, daily movements are not good for anyone's mental health!!

If people are in the situation where they feel they need to kill themselves because their spread bet went against them then it would be very tragic but at the same point, they probably shouldn't be gambling that much on AIM.

There is a classic line in gambling and investing, only spend the money you can afford to lose.