Member Info for hunniford

Straight into auction can't buy!!

Awesome RNS this jigsaw game gets better and better. Onwards and upwards hopefully today. This is still majorly undervalued!!

@Wasp if you can afford to hold that amount I think it would make sense. Obviously I don’t know your situation.

What is your average?

I hope you can see at least some profit before you have to sell, after all that’s what we hope for but I also know the relief of breaking even after a long time in the hole. I am well underwater in SYME and quite frankly if I could get 50% back Monday I’d take it and put it in ORR :o) Best of luck!!

Hey old wasp. Based on total voting rights, i.e. number of shares (3,864,539,005) this is what the MCAP would be at the following rates: 1p = £38.6m, 2p= £77.2m, 3p= £115m, 4p=£154.5M , 5p= 193.2M

I believe a half penny is doable by the end of the month. There should be another RNS signing off on the MBE due diligence, that could take us there. This then gives us 2 fully funded Central Cameroon licenses.

As I understand it before the Lanstead deal the company tried to do a placing and wasn't successful at .12P (needs a fact check) they then finalised the Lanstead deal which was designed to raise £1,767,000 in order to do this they need a SP average of .2533 - Lanstead have been selling from the beginning (SEPT) but we are now seeing the SP sit way above .2533. So this is now starting to return better value on an average of less than 2m shares to sell per trading day.

Their JV partner BCM looks like the real deal, I would urge anyone interested in ORR to read all of BCM's website and news articles as it gives you a real feel of who they are. So with drilling to start this quarter and results to start coming in Q2 the news flow for this could be pretty decent. Obviously results need to be be good but there is nothing to suggest they shouldn't be decent. If the results come in really good I think it could spike a real interest with institutional investors and larger miners. There aren't many new mining districts left in the world!!

We also have value locked up in Senegal and that needs to be figured out. Some folks have guessed around $10m I have no idea.

The ORR CEO Tim has experience of taking a company forward and selling it, he did this with Reservoir minerals, which provided significant shareholder value.

So far only 2 of the licenses in Cameroon have JVs we have lots more. If the drilling results from an amazing JORC this could have a domino effect on getting the other licenses with partners. The good thing is if the first 2 do well BCM may wish to work further with Oriole on the other licenses too.

I have no skills in valuing mining companies but when you look above at the numbers it is not hard to see 5P getting achieved over the next 18 months £195m is really not beyond the realms of possibility.

The one thing I think it is safe to say there is WAY more upside than the current price of .38p that's for sure. I still think ORR is CHRONICALLY under valued. Over the next couple of weeks the herd will possibly arrive so we could see some crazy spikes in the price as people buy & sell and traders make money. With some decent news flow hopefully we should see some good rises. With a good base forming above this the TopCo stands a good chance of making more than the £1.7M advertised funding.

So a bit of a long winded answer but I'm fully expecting to see 5p in the future if we can get some really great drilling results in Q2 as I think this will be the springboard!!

This is still very early stages the herd have not even got here yet. Morningstar has this as .5287 fair value estimate (not sure how that is compiled, so it's not my ramp) but that said when you think what the company has managed to do in the last few months it seems very plausible.

Should maybe start spamming the PREM GGP and other mining boards now :o)

Although I quite like the civility of this board, once he gold rush starts it will probably get much more meaner!! C'est la vie!!

Another piece in the jigsaw falls into place. The company has delivered what it said it would do since the November RNS. Of all the junior miners out there this one looks the tastiest. Veteran leadership team who collectively have considerable Skin in the game. What's not to like. It's going to get progressively more expensive to own a piece of ORR!!

They are taking liberties with the spread. It's almost like they are saying buy it but you cannot trade it. This suits me for the moment as I did most of my buying weeks and months ago. I thought we would have seen an RNS from Lanstead. I guess since we haven't they are continuing to sell down. If that is the case it is a positive to see that the SP is not getting murdered.

Hopefully we get a good couple of momentum RNS' from the biz.....

1. Next BCM deal signed

2. Drilling update in Cameroon

3. Senegal project update.

Something like this should propel us closer to the halfpenny , which if I am not mistaken was last seen in September 2021. The psychology of seeing 0.5p would be a tremendous moral boost for everyone involved.

Could it literally be only a few weeks away?

Looks like a nice 7.5M buy just gone through. Seems like this is getting more momentum and feel good factor and quite rightly so. Senior leadership in the company with major skin in the game.

CEO has experience of disposing a business similar to this during his Reservoir Minerals days.

ORR now has a very experienced mining partner in BCM. BCM also has their own investing arm, worth reading about that on their web site.

https://www.bcmgh.com/about-us/bcm-investments/

The ducks are quacking and slowly slotting into a row together!!

For anyone that believes in what ORR could be, has the cash and is willing to gamble on the potential that could be locked up in the ground in Cameroon, then now is the time to be buying while the SP is low. At some point the rest of the herd will come and this will likely get pumped. Then it becomes more risky as people get swept up in the rise and don’t know where to get off because their averages sit just ahead of the SP.

Far better to build a position now and put a nice buffer between your average and the future SP. So many positives to take from the recent news. This could easily be over a halfpenny by month end!

When this next BCM deal is signed for MBE regardless of where the SP goes I think we should really be at a minimum MCAP of £20m. This would give us a share price of .528

Taking into account the following we should be able to get there.....

- Bibemi BCM deal signed

- Mbe BCM deal signed

- Senegal licence and the value and size of it compared to Mangem's property

- Q1 drilling to get going at Bibemi

- Wapouzé cement exploration potential

- Lanstead Topco funded for the foreseeable future

- Legacy assets in Turkey and a couple of other locations with some value still locked up

When this next BCM deal is signed for MBE regardless of where the SP goes we should really be at an MCAP of £20m to take into account.

I guess one way to look at it..... As i understand it the CIB were offering something like 10% on project level funding which obviously was not attractive. So the BOD sought elsewhere, whilst keeping the option open (any deal is better than no deal). This probably negated the decision to deal with Lanstead since without having Cameroon funded it probably made them less attractive for getting a regular placing done. Having done the deal with Lanstead at least secured TopCo. This probably then helped them work the deal with BCM. So there was probably some "chicken and egg" scenarios playing out.

Ultimately the CIB probably tried a lowball offer because of the company's situation pre BCM. The company now has an agreement with BCM with a fair deal. So in my opinion this sets a bench mark for other partners CIB included. After all it wouldn't really be fair on BCM to do another deal with a partner for 10% equity having been a 50/50 partner with BCM.

So really any next deals should be on similar terms based on the monetary value ascribed to exploring the licence. Perhaps the only difference may be on the cement licence. The BOD do deserve a lot of credit for getting the BCM deal done. All investors should see this as a positive now.

On the Lanstead, selling it's clear it keeps the steam off the price. Without Lanstead maybe we hit .25 - .30 today.

At the moment I don't see it as a bad thing, each good piece of news like the next BCM RNS coming de-risks the company and adds value. So this encourages me to add to my holding. I would rather add to my holding at the current price than at .50

Good luck everyone, all in all a great day for the company with hopefully many more to come, particularly after the Lanstead storm is done in 18 months or sooner!!

Nice to see the company provide an update on the works to date. We’ve given them a bit of stick for being quiet in the past, so very much appreciated. Lots of news to come. Should hopefully keep the SP around this level until BCM is locked in.

The Senegal assets could be an interesting soap opera to play out in coming weeks.

Could 2024 also be the year the Turkey gets basted, that’s been ongoing for as long as I can recall.

Anyone hazard a guess at what the MCAP of this biz could be post BCM deals closing , legacy assets and Senegal getting a sale or a JV. Has to be at least beyond £10M as a conservative guess??

Well no RNS today, 3 trading days left for this year. ORR has been a rollercoaster that’s for sure !! Hope everyone has a good Christmas and has enough to eat.

Looking forward to see what this company can do in 2024, I hope we get BCM onboard. I recommend taking a read of their website they seem like they would be a great partner for ORR and they know the region and how to get a mine up and running all things we need.

Here’s hopin 2024 is the year of momentum and value for the business. Bonanza grades in Cameroon and we are off to the races!!

Lanstead going to be selling for the next 18 months it’s part of the course. Good to see the SP at the moment can support this without a HUGE decline. The round numbers look like the similar selling pattern so it could be more from them. I doubt many PI who have been here would want to sell now.

Obviously the goal for Lanstead is to be selling around or above .25 to make good value but realistically all we need is to ensure TopCo remains solvent. If Lanstead do keep the SP suppressed by flooding in shares periodically one could look at it as a way of being able to add at lower prices. i think it will take a while or specific news to nudge us up again, like stuff happening in Senegal or Q2 drilling results if BCM do climb aboard. This one is going to need patience!!

I would imagine it could only be cancelled by mutual consent, Lanstead have possession of their shares and given we are already several months in based on Five-o's thoughts they have probably already begun selling and we don't see the notifications. I would imagine any exit from that contract would cost the company $$ so it will have to run it's course. Roll on Sept 2025!!

Let's hope we get some decent news over the next 18 months to keep the SP bolstered. The other thing to remember the BCM deal is aimed at the project level. The Lanstead deal is at the TopCo.

So at the moment BCM funds exploration and Dev on 2 Cameroon licenses & Lanstead is meant to keep the staff and leadership team and company administration funded.

In theory if it all works well we should see no further need for raises until at least Q4 2025 by this stage if the BCM deal works it could be very possible that they are ready to start mining one or both of the 2 Cameroon licenses.

Thanks Five-O I will try ands do some more research into this. A quick query on Chat GPT alluded to this interpretation of Rule 17, which to me makes sense otherwise the shareholders register is never going to be up to date?

Certainly. The requirement for shareholders to notify the company of their shareholding changes on the AIM market is detailed in the AIM Rules for Companies, specifically in Rule 17.

Under Rule 17, any shareholder who acquires or disposes of an interest in shares which takes their total holding to, above, or below 3% of the voting rights, must notify the company without delay. This notification requirement also applies for each 1% change in shareholding above the 3% threshold. The company, upon receiving this notification, is then required to promptly announce this information to the market.

This rule ensures transparency in the ownership of public companies on the AIM, providing vital information to investors and maintaining the integrity of the market. It's a part of the regulatory framework designed to foster investor confidence and market efficiency.

As i understand it from the main market , I know ORR is AIM but in the main market a shareholder has to notify with a TR1 for every 1 % movement above 3% so if Lanstead was selling down they would notify until they went below 3%

I haven’t searched for this on AIM as I just assumed it would be similar so good to know if it isn’t.

I saw this happen with AMGO when one of the ousted directors publicly stated that if he didn’t get what he wanted he would sell 1% of his holding per day, which he did and every day there was a TR1 with like a 3 day lag since he has 3 days to register the sale of asset. But once again this was the main market!

Hey FiveO how do you know the TR1 doesn’t apply to Lanstead. That’s an interesting point. I’m curious as I see them just like any other Shareholder whether they are classed as an institution or a PI.

I figured yesterday the sales made sense if it was them. All round numbers. But I figured they would need to sell about 38m + to trigger a TR1. Bit naughty if they can sell down their holding with out declaring it. Particularly as they are now the largest shareholder. How would the ownership register be accurate without knowing this?

Thanks Loc123, Luton &Jonhb.

Been patient for 3 years so will sit it out I guess. I was tempted at 0.0008 (if that is the correct amount of zeros) to liquidate and stick everything in ORR but I didn't get around to it and we dropped again. I'm also probably way to over exposed in that one too!! C'est la vie.

For what it is worth I don't think AZ is a fraud or set out with the intention to defraud folks. Whoever valued the biz at 200m+ may have been out of their mind for the original listing but it is what it is. I put my money in took my chances and I appreciate the old saying the market takes from the impatient and gives to the patient. Just not sure what the definition of impatient is these day :o) all the best everyone and I hope everyone has enough in their wallets for some Turkey, Trimming & stocking fillers this year! Nut roast if you are a vegan - each to their own!