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I suspect if they RNS about the CIB it will just say they are continuing to work with the CIB to seek investment partners for project level funding. However, they may not even RNS about it this week, be prepared for that. It isn't really news if they don't have an investment. They just don't have an investment (if that is the case).
As of today it is unlikely they have an investment as they would have had to make the news public. The Aim rules on disclosure are fairly tight on delaying disclosure of news that would move the price of the share.
As many have said the market for raising finance for juniors seems to be pretty tough, so the focus should be on getting funds where they can, they are sitting on something decent in Senegal so hopefully discussions about what to do with that are well advanced since 2024 is literally only around the corner now.
@ Mr P the Canadian investment (if still on the table) could drop at any time. The wording in the June 21 RNS said
"The financing was initially scheduled for completion in Q2-2023 but the Company has been advised that this will now extend into Q3-2023." At the end of this month we are 2/3 into the Qtr."
Now if we had other imminent results, it might be smart to queue some of these up and push them out in succession to get some momentum going on the SP.
@Panda it really is down to the Board & Leadership of Oriole to generate significant news flow and results to turn the share price around, currently they have a five week head start on the selling action from next Monday. If they can bring in significant good news we may be able to weather this. We also need a bit of luck with what's in the ground. They have rolled the dice on this one, seemingly as they ran out of options. However, even after the impending new dilution the BOD will still own just over 6% of the company so if they flush our confetti away they will also be flushing their own confetti away too, plus Eileen's £192k so that's a lot of confetti!!
@Oriole leadership - time to really earn your keep and steer this ship around the ice berg!
@Kutzz in order to get a rising market we need conveyor belt of good news and a bit of luck along the way. Like getting that money out of Turkey, that's been rumbling for years. In some ways the investment issue could be irrelevant without good news. We were sitting around the .20s with no where to go until news flow came. That was meant to be in the guise of a Canadian investment, not sure if that deal is still on the table hopefully we figure that out before this month end.
Six weeks and counting to get some decent news in.
Unless they are sitting on a Sh£t ton of good news!!
I have to admit digging into that company their Website is pants like a single page and when you look on Linkedin they have zero employees listed which kind of doesn't look that good.
So let’s say if the SP sits below .19 due to crap or no news for the next six or 12 months and Lanstead have to sell shares every month does this means the SP will stay low and ultimately Lanstead then make a loss? Or if the SP is low do they not have to sell shares? How does that aspect of it all work?
Here is the link:
https://youtu.be/JPoGgb0_AAI
I didn't realize we were also going after cement must have missed that previously. Concrete investment :o)
One point to consider I guess, is we currently have an MCAP at £3.7m (and dropping) which a few weeks back at £5.7M everyone agreed is way too low. Given the new free float looming of 3,864,539,005 shares, then hitting the magical 0.2533 pence referenced in the RNS would make the MCAP £9.8M which is still incredibly low given the potential of the assets the business holds.
I do hope Tim or Bob do jump on somewhere like Proactive and talk us through this. Again why would the Executive Chair load up to almost £200k of personal funds a few months back to now see a drop of 25%+ and further if this company had no hope of coming good.
Hey Panada, on your points "Oriole only does well if the share price is above 0.2355p " couldn't it be argued that now is the time to do a deal like this let's say if there was a flurry of decent news to come such as drilling results, rebates, project level funding etc. As arguably a decent flow of news would push the SP higher meaning as you say ORR do better once above .2355 ?
I'm just thinking logically when there is no news the SP naturally sinks so doing it when the SP is somewhat depressed on the lack of summer news might not be a bad way to do this. Although I am no finance expert that's for sure.
The only thing that keeps me sane is the BOD skin in the game, what hurts me hurts them too!!
@Kutzz. I just finished listening to ChumbaWumba.
I'll keep an eye out for a video interview there is likely to be one going somewhere later on today. Maybe this is the start of a decent news period that will feed into the SP, one can only hope!!
Next Blytheray / Proactive video should be a good one. Well the BOD & leadership are shareholders too with significant skin in the game! Had to google Lanstead to see if they were in Canada..........Canadian bank anyone?
Mildly amusing to log at the MAG reaction to the news but long term FRES does go through these weird periods of peaks and troughs. I haven’t bottomed out what drives it but we could be back over £10 by year end with some decent H2 figures and a sprinkle of luck!!
Sitting in Istanbul airport, pondering my life’s options and whether to buy more :o|
On the one hand would a director (an insider) just “punt” £200k to make a point. Or is this a ridiculously strategic time to be buying?? Look at the history & returns on stocks like GGP , PREM at some point it must have been pretty brutal buying and holding on their lows only for the shares to rocket.
Plus if I keep buying at this pace I’ll end up having to sign some public register of ownership soon. Maybe though I can also get a seat on the board :o) would you guys vote for my resolutions?? I’d definitely throw a decent after AGM party!!
They do say fortune favours the brave!!
Well let’s keep positive. The underlying business is investable which is why we are here. We are investing in what’s in the ground and the BOD for their skills and experience. If the funding for an investor falls down that isn’t necessarily the fault of the business. Both parties have to be aligned for it all to work. It’s not uncommon to have lots of conversations to get an investor over the line. The fact that they mentioned advanced discussions is good. If they are experienced which we believe them to be they will be talking to many different parties. There are so many things that investment can hinge on such as assets, ambitions, personalities, business plans, politics.
Couple of big trades coming up around 11:30 looking like buys too. This RNS didn’t really bring much news to feed the SP need some funding news next. Wouldn’t have thought the Canadian bank deal would be overly complex to put together. So hopefully news on it soon.