Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Incredible results out of Mbe which further proves Orioles hypothesis to drill there.
It has the potential to be an absolute monster!
Two drill programmes over two licenses to look forward to.
Lots happening for Oriole and getting the recognition it deserves.
Be interesting to see if others come knocking on the door wanting a piece of the action.
Very well written post Hunniford. 👏
Gauging the share price from the mcap, in my opinion is the best way to make an educated guess on where this could go.
Some people reference the 2021 spike which was based on hot air and got pumped.
This current increase in share price is the market starting evaluate orioles position more fairly with the two JV’s recently signed this rise has substance which is important to note.
For me, the major news catalyst is the drilling which is due to start in Q1 at Bibemi and hopefully they will have time to start the maiden drill programme at Mbe prior to the rains in June. A 5 month window.
Depending on the results, I don’t see why Oriole can’t reach £100m mcap which would be 2.6p
I believe this for several factors but the most important is the fact that this is true grass roots exploration. Bibemi has already de-risked the geology so we know there is decent gold mineralisation. We all bought into oriole because we understand that going into a new country made this even more risky than most juniors but the caveat to that is, the reward is even greater.
The hard part is kicking down the door and if oriole can get close to 1m Oz at bibemi . Think how likely it will be that over the CLP there will several deposits that could be similar or larger (Mbe).
Tim’s previous company he worked for, Reservoir minerals sold for (US)$365m so he has experience in taking a company to a take over prospect.
If oriole can aim for even a 1/3 of that mcap we would be 2.5p+
I don’t want to disclose too much but yes, my average is a lot lower than today’s price.
I see a lot more potential here as catbert and others have written good posts on this.
Tim’s recent interview for proactive says it all.
Hold for gold.
Huge day.
The wider market is starting to cotton on.
As Tim mentioned in his interview.
He urges investors to see the wider potential. If you think today’s gain is good, wait for the drop results over 2 licenses. That’s the major news catalyst.
If they’re good. Expect majors and mid tiers scrapping to get involved.
Enjoy your weekend everyone.
As a longer term investment Oriole has considerably de-risked itself as a company.
$8m of investment into a new gold district, if the results are excellent this will attract a lot more interest from major mining groups who will be wanting to get in on the action.
With hopefully two major drill programmes happening in H1. There should be considerable news flow throughout the year.
The Lanstead agreements whilst most of us were very sceptical , this move looks genius. Fully funded until August 2025 with payments increasing following the share price.
For Oriole, it’s tough kicking down the door in a completely new country.
Best of luck to the BoD and BCM.
2024.
Let’s go
As the earn in agreement is signed but still ‘conditional’ I expect that’s what’s holding the SP back slightly.
When the due diligence period has finished and Oriole receive the $1m cash payment ( most likely next week) I imagine we should rise considerably.
Also , not sure if anyone has look at the pictures from the JORC update. The pit shell potential they are looking at has a picture of the ‘vertical section facing north east’
What the clearly shows is the mineralisation is open at depth. The vertical drill hole showed 14m @5 g/t which is at the end of the hole they drilled. With more vertical drill holes testing the depth beyond 120-134m this could significantly increase that resource!
Along side that vertical drill hole (holes that tested diagonally)
We have grades of 35g/t , 75 g/t in 1m - 2m intersections. (Width of the veins)
If it’s open at depth, maybe the really serious mineralisation (mother load) is down there.
Great post Coyote! It puts the agreement into perspective. We also now just above the bench mark price which is excellent. TopCo funded until August 2025.
Still anticipating Mbe to be signed prior to the end of Jan with Oriole receiving the signature $1m payment.
I think with the Senala JV. Managem may honour the second option period , pay Oriole the $2.3m to get to 70% and then not sure what will happen after that.
A full on cash sale of Oriole’s stake would be my preferred option but that may take time to negotiate.
Agreed Hunniford, lots of news flow still to come which is expected and anything that may come as a surprise will be a nice boost.
Again on Senala, I’m not sure we will have our answer straight away around Feb 17th but ultimately a cash sale of our remaining 40% would be the best outcome.
If Oriole could get $10m for that 40% then then money going into Cameroon exploration and some into a share buy back could send this to 1p +
The argument for anyone still on the sidelines to invest here just becomes more and more compelling.
With phase 5 drilling at bibemi to start in Q1. How many additional oz can Oriole uncover.
At bakassi zone 1 they could achieve 500k Oz + at just one of the 4 prospects on the license. All within a few km’s of each other.
If Oriole proved a resource of 1m Oz in a brand new country that no one has stepped foot in for Gold exploration.
If you say that again, out loud you will realise how truly definitive that is.
How many others do you think will come knocking on the door?
“ This project is shaping up to be very robust and offers the opportunity for early development of a potential multi-pit gold mining operation “
I agree Hunniford.
Bibemi and Mbe JV = $8m of value alone
Bibemi already has a resource of 300k oz.
Senala - hard to pin an exact value but Orioles 40% stake should be worth minimum $10m
Lanstead - means Topco is funded until August 2025.
As time goes buy their position will decrease and selling down should align with the SP rising as a hedge for them. 19 months to go.
If they can get similar assays to Phase 4 drilling at Bibemi. 14m @ 5 g/t amongst other great results. Then this could genuinely be 1p - 2p in 12 months
I think if the share price can hold around this price then it will be fine.
We saw plenty of buying yesterday afternoon so a lot of the market are still taking shares.
I understand the desire to de-risk but real money is made from sitting on your hands here. Especially in the short term with Mbe and Senala.
Https://youtu.be/LN91hyJ3eWM?si=4H6YN6QSSGGWr9qp
New proactive interview with Tim
They said on Friday , signature payment to be expected soon and will update the market.
Monday - here it is.
£10m mcap unlocks some purse strings for smaller hedge funds and II’s who fancy a risk on AIM.
Once we clear that we may see bigger buys come through