Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
I’d say Bibemi will hopefully be executed before EOY.
It has the potential that both Earn in - agreements will be signed by the end of December.
“Following execution of the HoT, BCM will, at its own cost, complete a period of due diligence ('Due-Diligence Period') at Mbe, ending no later than 31 January 2024
The Earn-In Agreement is currently being drafted and is expected to be executed before the end of 2023 subject to the satisfaction of certain conditions precedent.”
I find it hard to believe that anyone would be selling now, why would you?
When both drill programmes are up and running, there will be almost 20,000m worth of assays to look forward to over 2024.
There will be $8m spent on exploration on two licenses.
That excludes any value realised from Senala.
Results dependant but we’ve seen what other companies can do in this space with good results.
GGP, EEE…
Online Investor meet tomorrow with Oriole.
Good opportunity for Q&A at the end.
It is set to be stacked Q1. Bibemi , Mbe drilling and Senala JV update.
Keen to ask the BoD what is happening with Senala as we haven’t had an update for a while.
New tweet from Oriole.
#BCM Technical consultant Bob Griffis reviewing #Bibemi diamond drill core during a due diligence trip in October. Following this visit, BCM signed a HoT with
@OrioleResources
for a US$4m investment into the #gold project.
I’m looking forward to both drill programmes in Q1
I’m not sure something needs to “break big time”
Would it not just be a case that they get a grip on inflation, which is the reason they raised them in the first place.
With inflation easing, interests don’t need to remain so high?
I don’t see a massive “break” in that?
@hawaii 5-0
Agreed.
There is the very real possibility that Farè will have 1m oz resource.
Combining Orioles / Managems assays to develop a JORC resource in the future should highlight that. This is when the license can be valued fairly IMO.
Historic grades:
-35.00m grading 3.61 g/t Au
-59.00m including 18.00m grading 6.46 g/t Au (FARC21-0112)
- 20m grading 31.13 grammes per tonne ('g/t') gold ('Au') including 10m grading 60.98 g/t
- 59.60m grading 2.20 g/t Au
- 49.50m grading 1.75 g/t Au
-70.00m grading 1.46 g/t Au from 17.00m (FADD21-031-C)
I was frustrated that IAMGOLD dragged their feet on the JV considering how amazing those results are.
They didn’t progress the license over those 4 years to really develope the resource at Farè. (They were busy with their own licenses but still frustrating as an oriole investor)
Chesser resources with similar assays had 900k oz and sold it for £40m - £50m
30% of that could be £12m - £15m…
Either way. Farè is a huge prospect in a well renowned gold district. That is a gold mine waiting to happen and as you said, it isn’t reflected at all in the current mcap
With the price of gold at $2040 and some other companies in the sector doing well is this the start of a bull market for juniors?
A rising tide lifts all ships.
You add into the mix oriole’s portfolio and we should start to unlock to real value here.
Followed by drills results over 3 licenses.
Hopefully it’s time to buckle up.
Just having a look at the BCM website.
Some of the projects and companies they have been involved with are well known.
- Newmont
-Anglogold
- IAMGOLD
They have been involved in multiple projects in Africa
- Loulo mine in Mali which is a huge deposit.
They have a huge list of contacts through West Africa and run many successful JV’s and mining operations.
Producing $180m of revenue per year.
They tend to undertake successful, money making opportunities. Clearly they see something promising with Oriole and this is a chance for them to get their foot in the door early in Cameroon.
The next news will be for confirmation + signing of the JV which is due to be completed before the end of the year once it is all drafted.
I’d prefer to keep the bigger stake in the license than give it to the Canadian bank.
At the time we were incredibly worried when that didn’t come through but it’s funny how the cards fall, it turned out for best with a vastly better deal for oriole.
It would also be exciting to see the drill programmes for Bibemi and Mbe and how much they will take on in Q1-Q2
Oriole tend to be aggressive in exploration and prove assets quickly.
Bibemi has $4m exploration budget with success based bonuses. With minimal drilling Oriole believe they can define the JORC resource at bakassi zone 1 to 500k Oz
That’s 1 of 4 zones..
Mbe has $4m exploration budget with success based bonuses.
Senala - $2m is being spent on drilling before Feb 2024.
Not many juniors have $10m worth of drilling over 3 licenses.
If the agreements get signed before EoY then we can expect a very heavy news period throughout 2024.
I’ve seen a few posts on Twitter and occasional posts here referencing Lanstead.
In reality , if they did choose to sell shares a month to fund payments it would only be 41m.
Think about the volume traded in the last three days. Probably 500m?
The Lanstead deal will only benefit as this share price moves north
Just sat in the airport waiting to fly home and I was thinking.
The BoD seem confident they can achieve 1m + Oz at Bibemi.
What could that be worth? Chesser resources sold a similar size resource for £50m? In time we could be looking at pence for the share price.
That wouldn’t include Mbe if that turns out to be good or Senala.
It’s still early days but I don’t see why Oriole can’t reasonably get to £50m - £100m mcap with the right results
I’d also like to add that a £10m+ mcap unlocks the purse strings for institutional investors and HNW
Which means the share price should move exponentially. The higher is gets to that £10m mcap the more the big money starts to flow in.
Also, the more money that comes in under the landstead agreement
Take profit…. What’s that?
I’m here for the big bucks.
The share price will rise and fall but I feel over the coming months - year. This will rise with continued news flow on multiple fronts.
If market sentiment returns to this sector then it is even better for Oriole.
As Tim mentioned in the interview , securing a deal like this whilst the sector is struggling is only testament to Orioles campaign in Cameroon.
BCM also have a very impressive history.