Member Info for Jackbal

Yeah we did get caught out. No arguments from me on that.
I naively believed the narrative about legacy assets. More fool me on that

Kutzz,
No offence but your relying on the companies own narrative as gospel.
Bad day on the markets and not trying to be a wise arse but so much bs and so many politicians on AIM bod’s it really helps to mistrust what companies tell you as a starting point.
It’s like them telling you it’s all about the mcap and dilution not a problem

To add insult to injury I read about this elsewhere..

“On 25th February 2020 the company sold their long held 12% stake in Tembo Gold for £172k, they never stated who they sold this position too, it would have been off market as Tembo shares are totally illiquid.

On 7th December 2021 Tembo Gold announced a agreement with Barrack Gold in a deal worth circa $60m to Tembo, this included a $6m up front cash payment.

Obviously Tembo shares surged on the announcement.

Had Oriole held on to this stake it would have been worth £1.2m not the £175k it was sold for.”

I know we can all be wise with hindsight but shouldn’t the mining “expert” Tim have done better?
It’s not just this either: failure to trigger warrant clause would have raised funds at more than double today’s value.
Failure to act promptly last year on financing when he thought he knew better than the market.

The list goes on and I just be arsed to finish the job but why do some think Tim is such a good guy and that dilution doesn’t matter?
Or are they paid for that narrative……

The share price is an explorer’s collateral. Pretty important I’d say

Tim takes on another role at MTL which was on my watchlist.
Don’t think I’ll be punting that now.
So he’s just going to dilute this to sxxt and take on other roles. Great!

It really is looking like a piece of crap now to be honest.
The cap structure doesn’t support the financial requirement.
The current 5.8 million market cap is probably around the amount they raised since they took over.
Stock had a 2 million market cap before they took over so they have basically raised roughly 5 million to add value of just under 4 million and now going to do it all again.
Sometimes I think stocks are just oversold on sentiment but to be honest based on the developments and the acumen demonstrated think the market has this right.
I will avg down opportunistically after the placing as a trading activity but Tim’s credibility has to be in question.
WITHOUT RAISING 7 figure FROM LEGACY how did he think it would all process?
Did he even have a plan B?

The fact they are actually trying to pat themselves on the back is blood boiling.

On another board I read they had sold their stake in tembo gold for under 200k. That stake would be worth approx 7 figures now. It’s also a concern that individuals who were involved in the sale have seats on tembo board.

You certainly can kutzz, it’s the least you deserve.

Can I just say that the failure to trigger warrant clause also looking very sloppy now. It’s not just one balls up that has backed us into this corner

At today’s valuation they are seeking approval to give away 25% of the co at potentially and probably a lower SP than last time round..
On what planet can Bod claim any sort of success?
Another Bunch of AIM politicians at work

Maths( not matches) sorry

Kutzz totally agree with your comments,
The difficulties business face are one thing but to try and dismiss dilutive concerns by showing a line of the market cap either.
1. Expresses an alarming lack of naivety from the cfo and total disregard for the company’s own collateral (SP)
Or
2. Is enormously insulting to our collective ability to do basic match’s
Or
Both.

Personally I think he obvs understands dilution but doesn’t really care about it due up options button

Directors not buying in the market because they will be expected to purchase primary stock.
An investment in 6 months will prob be a placing as last set of numbers suggest one probably required.

On the plus side at least if they buy primary stock the money mostly goes in the company’s coffers.

Kutzz thanks for sharing that.
Seems like a load of nonsense to me as seems he’s implying that they started with a market cap 2.5 and “successfully” grew it to 7.8.
How much cash did they raise to increase mcap by 5.3 million? Approx 5 million???
Oh of course Bob the chat rooms don’t understand and the market doesn’t understand.
Very very concerning that Bob dismisses dilutive concerns but if he can reset options he doesn’t share our risk.
If almost everyone outside of ORR doesn’t understand then the Bod are surely to blame for that:
I would counter that the market understands a little too well for Bob’s liking hence his intention to sweep dilutive concerns under the rug
Company’s that have inner value that can be unlocked don’t sell 20/30% of the honourable whole enterprise for short term survival.
Bob your a nob and your comments insult basic intelligence, hoping you read this.
What are you going to do to get the mcap from 7 million to 10 millon?
Raise a couple million?

Tax rebate won’t touch the sides.
The £1.6 million worth of dilution they want approval for won’t go far either but will buy another years grace during which time something truly value enhancing could happen but fully expect this to be reflected on an extra approx 500 mill shares.

On the plus side markets been firmly pricing in a placing since the last one so hopefully any raise will be around this level and not at a big discount with wts.

Thing is all explorers dilute. But there is healthy value enhancing dilution or keep the lights on dilution. With such a low mcap Orr can only barely afford the latter.
Failure to raise from legacy was a game changing failure imo and I posted my fears many many months ago.

Will keep Holding my stock (remember ggp falling from 2.5p to a fraction of a penny so there is hope) but very alert to fact I will fall victim to the lack of serious financial planning and low sentiment as a result.
GLA we will really need it now

Great to see sp at 2.6p old equivalent.
And so many highly educated posters saying this was going to take years and years when we are up 50% since I last posted on this.
Just goes to show usual the SP will act ahead of the “actual” recovery

I bought 5k today as a marker dart.
Not convinced it will go that much lower but can’t rule out 6/7p or a placing entirely so just took a few with intention to add on any further legs down.

My target of 25p which many think is conservative from reading the comments is 200% from here so willing (not happy!) to start taking the strain again.

Fundamentals could drive this much higher than 25p over next couple of years but i will be out long before then.

Good luck whatever your strategy and expectation.

Don’t think you can rule out dilution.
Brad may have intimated it was unlikely which coming from Brad means nothing.
He already cried wolf on the options.
I sincerely hope he doesn’t dilute but Brad’s guidance is unreliable (to put it politely)

Just have to hope that the reason for a visit back to 5 p isn’t a liquidity event.
At the moment SP still has potential to bounce back hard, if he dilutes cap structure to further JV’s it’s going to be a long road to recovery.
He said he’s unlikely to raise funds this year but also said he wouldn’t reward himself with options until “boots on the Ground” or something vague and meaningless to that effect and look what happened!
MM’s pulling it down hard on little volume like they did in November.
Surely he wouldn’t but the way SP is still behaving is cause for concern

With the almighty 162k shares he’s amassed he’s not even an ardent supporter of himself

Does he have a single ardent supporter?
I know I’m here in spite of him certainly not because of him.
Share price however is down here firmly because of him.