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Re watched the old interview from Bob in April when he was saying there is a pretty clear pathway to 1m Oz at Bibemi.
Oriole is so close to unlocking Cameroon via Bibemi and Mbe. If you can show 1m Oz then cameroon will be officially on the map.
Dry season is about to start so I’m hoping we get a wealth of good news to kick it off.
Apples and oranges mate.
They’re in a completely different position to Oriole.
They have several mining operations and produce revenue.
Comparing the number of posts on a forum as an indicator to share price growth is juvenile.
***In my opinion, as always DYOR***
They have 20 trading days left to secure the CIB in Q3 which was adjusted after it didn’t get secured in Q2.
The longer it goes on the less likely in my opinion not because of the assets but the top co funding situation gets increasingly worse month to month. Without a SP catalyst , the needle won’t move and at this level, the Lanstead agreement doesn’t offer enough money to cover the top co needs.
What happens if your salary doesn’t cover your mortgage ?
No doubt there is probably a great amount of stress in the office right now.
I’m sure coyote can come on and tell me I’m pessimistic and don’t listen to a word I’m saying and by all means, ignore me.
DYOR and look at it objectively. Assets and a huge land package mean nothing at the moment.
I more than most hope they can get this project level financing sorted and it looks like it will be the last minute of the last day.
They said in Q3 so they still have a month to close out the deal. Once that gets sorted, the only concern is how Lanstead choose to operate in their position.
Whether they do in fact decide to sell shares off in which case we will be notified through and RNS or they remain a large shareholder.
It’s set up to be an interesting September.
Only the BoD know how close they are to announcing funding and then it is all systems go.
I think, now more than ever before, Oriole is in an incredibly fractious position outside of its control.
Without that outside investment there can be no further steps.
It’s could be the snowball effect and right at the top is the CIB.
- CIB , Bibemi JV
- share price rises ( more money from Lanstead)
- unlocks maiden drilling at CLP and increases resource at Bibemi )
- share price rises ( more money from Lanstead)
- potential elephant oil IPO and EIA ….. lol
- - share price rises ( more money from Lanstead)
Well that’s how I see it anyway.
@ Godofhellfire
In the post RNS interview on the CLP financing.
All we knew was
- the company signed a letter of engagement with the CIB for $1m for a 10% stake
- through discussions with the bank they said end of Q2.
- Oriole weren’t too fussed that it met this timeline as they said they only need it for September/October to start drilling but they did want to hit the ground running.
In essence , if the CIB doesn’t come in this month then yes it would cause operational delays to the programme.
It’s worth noting that at Bibemi the exploration license ends in September 2024, the next license they have to apply for is ‘exploitation’
This must be a clause in the agreement where they have to start mining a license after a period of ownership.
Hence why in the recent interview Tim talks about small scale mining at Bibemi and turning it into an exploitation resource. Basically because they have to to secure the license
After what’s been a relatively quiet 2023 so far which potential news on multiple fronts were almost at the end of Q3.
If the long awaited elephant oil IPO happens September 2nd then can could bring some extra cash in.
The EIA in Turkey has the potential to bring in several million as that royalty is worth a lot!
The path ahead remains uncertain but the letter of engagement from the CIB was signed in April so hopefully that comes in.
We know Oriole have been prepping drills targets at the more drill targets at Bibemi to build the resource to 500k Oz.
I’d expect those drill programmes will be released in September as oriole want to hit the ground running and this programmes may get the appetite flowing for oriole.
It’s been a long, hard road but the reason a lot of us invested were to see Cameroon (mbe) drilled in its infancy and now we are standing at the doorway to that.
Funding aside , it is an exciting time for Oriole.
I’d expect multiple news drops in preparation for the dry season in a few weeks
Let’s just wait for the BoD to deliver the project financing. They will be trying their upmost to secure it, it could be exceptionally close and then we can get excited about the 2023/24 drilling season.
GLA
Hawaii 5-0
To answer your question on Senegal.
As you said the JV concludes in Feb 2024 where Managem will own 70%
That could be an inception point for oriole to sell their remaining 30%
If not, and managem continue to explore that license then Oriole is either required to fund 50% of the costs to retain their 30% or their position will get diluted to a minimum of 10% NSR
What is a shame about Senala and Farè in particular, is that could have been developed into 1m Oz resource. The results have been amazing, similar to how chesser built theirs up and sold it could have been a similar template for Oriole.
That’s okay mate, I don’t need any affirmation from you.
I’m not trying to convince anyone, just writing down my opinion. All those things I have written yesterday are correct in the context that that’s what’s been said from the BoD, Eileen, that’s how much Oriole will receive from Lanstead. The information is right there.
I’m not making it up….
Don’t buy them on my recommendation, just seems odd that you would spend time writing on a board for a company you don’t want to buy shares in, yet you describe it as the next GGP?
Sounds like an oxymoron? The next GGP but you don’t want to buy in?
That’s bizarre but maybe you’re an odd chap?
Anyway Coyote, this road runner is off.
Meep meep.
1. First and foremost , raises are influenced by share price …. Orioles has been in the gutter for atleast 12 months. That’s not the BB….
2. 2/ “Quoting the CEO and CFO From 3/4 years ago”
Tell that to them, they are the ones that said it numerous times, sounds good on paper and attracts investors.
5. Dilution is why we’re at 0.10 of a penny…. Even Eileen admitted dilution isn’t good and no one likes it haha, she doesn’t like it herself and she put £195k in. The BoD acknowledged that raises/dilution and speculation on funding is why the share price is down the low. They admitted it…. It’s not just us.
6. The SP quoted - 02355 gives oriole £73k
For the month of august the SP has been 0.12/0.13 on average?
I’d say it’s pretty much going to be £30k - £32k. It’s not hard to have a ball park figure, give or take a few hundred pounds…..
If you’re such an optimist, dig your hand in your pockets, dig deep and buy some shares.
I’ve put my money on the line.
7. I said if it doesn’t come in by the end of Q4 I won’t be convinced.
You pump this BB as much as you like, it won’t change the fundamentals of the company.