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Anything that brings in revenue Is a positive for oriole although this is still a mid / long term option.
They’re clearly trying all avenues to become self sufficient with funding.
The very fact we are sat here discussing limestone and cement and not project level funding and the 23/24 gold field season as a junior gold explorer is alarming no?
“Will look to secure”
It’s taken 6 months to *potentially” secure the project level financing.
17 months for the EIA to be approved.
I don’t excited about anything that is not confirmed nowadays because you said yourself coyote. Everything in mining gets pushed right.
I agree noise is noise, whether it’s spouted by you, the BoD or myself.
The interim report should be out soon and then the ‘noise’ will be released. Should see how much cash they had end of June and then you add the £30k from Lanstead and go from there.
The cement production will help in the future but it’s not near term enough to benefit oriole.
I just realised though that on coyotes computer , noise appears to be a synonym for finances. ..?
Hence ‘Disregard the finances’
Oriole genuinely needs a miracle because it’s really dire straits time. Before you knew that worse case they were going to raise another few million and drill. Now I’m not sure what the options are?
This has really been driven into the gutter by all the disgruntled investors on the forums concerned about their investment … wait… that doesn’t right?
Legalwolf -
I wouldn’t say it’s a worrying RNS. It is semi positive, not one that helps Oriole in the near term mind you.
It’s not the RNS everybody wanted but they’re clearly trying.
Just the general state of this company at the moment is awful. Nothing to do but laugh, we’re now below the teens. What an absolute joke
Coyote -
You can’t just comment everything as noise.
Most posts have been airing very genuine concerns which flirt with real possibilities. One being , Oriole have no money or a sustainable path.
You provide no alternatives or answers. I’m sure as optimistic as you are you must see it from others perspective? And if you can’t….alarming.
Instead of commenting ‘more noise’
Why don’t you take the time to write how Oriole can improve from their current position and back it up with figures.
No fluff and waffle
“ This is not a speedy operation and invariably takes 6 months or more, sometimes a lot more. ”
Despite the initial timeline of end of Q2 which came from discussions with the bank.
Then forecast in Q3 which we are now at the end of.
Raining season is over and they wanted to hit the ground running.
We’re walking at the moment
I think we’re all in agreement coyote that Cameroon looks hugely prospective.
Bibemi has been semi successful and could achieve 1m Oz
Mbe looks very promising and they have a few other limestone projects potentially around the CLP.
Lithium although those recent samples didn’t look amazing.
No one can deny the fact that Cameroon gets the mouth watering, we’re all invested here largely for that reason. No one is concerned about that.
It’s how to achieve that with no money….?
Example - Tescos looks great for food shopping, has everything you need but you can’t buy anything if you have no money.
Coyote.
It’s not noise, it’s factual and a very genuine concern which it appears all the shareholders hold, not just here but on Twitter, the other forum and in the telegram group.
If you can provide any answer other than ‘disregard the noise’, I’m really willing to listen.
I’m saying Oriole find themselves in a financial straight jacket at the moment until a JV or Project level financing is confirmed.
I’m not sure how you can disrepute the fact that they have very little cash balance at the moment.
At the moment the Lanstead agreement helps run the company but there isn’t excess capital to put into exploration.
Both those factors mean right now, as far as we are aware , mean oriole can’t fund a drill programme at Bibemi or the CLP.
How do you expect the share price to rise without any positive catalysts in the near time?
Without a share price rising, the Lanstead agreement fails to provide enough funding to explore.
It’s a catch 22. I’m not trying to be ‘negative’ that is just the simple facts of it.
If you have an answer , I’m all ears.
Time will tell.
10 trading days left of Q3. Shareholders are clearly expecting news on the CIB and the raining season has finished. Can’t hide forever
They can either deliver or they can’t. The BoD know what’s happening and they understand how precarious this position is right now.
I do wonder what Eileen thinks of it all
Valid points from everyone.
Things in mining take time, that much is true. Just look at the EIA in Muratdere.
Oriole will find themselves in a financial straight jacket if the CIB doesn’t come in or a JV, that much is also true.
Not much can happen without funding so we sit and wait.
However ,
I personally think that news flow is fast approaching and details on project level financing and drill programmes will come at the same time.
Rainy season is just coming to a close and I’d imagine this “quiet period” will soon be over.
I’m sure the BoD are extremely busy getting everything lined up for this field season.
@godofhellfire
Their Twitter post doesn’t mean they haven’t secured the funding.
All we know is on the 21 June 2023 they said
“ Work on previously announced project level funding for the forthcoming Eastern CLP work programmes is still in progress and is now forecast to complete in Q3-2023.”
3 months after the last update and we’re coming up to the end of Q3. I can understand why shareholders might be slightly alarmed with this project level funding deal and I’d be lying if I said I wasn’t concerned.
All we can do is wait, no news is better than bad news.
The junior space has been in a crippling bear market in the US and U.K.
How long it will go on for, I’m not sure. All stocks across this sector are down 80-90% since the 2021 blip. Oriole is not alone.
What’s more unusual is the disconnect between metals prices and the junior space. Usually the price of metals is lower during these times yet gold continues to sit above $1900
It’s a case of surviving for most these companies right now and keeping the lights on.
This Lanstead deal, whilst no one wanted it, it helps income for 2 years. Cash is king at the moment and if oriole can reach a higher share price then it secures its future for a while yet.
The key is to pick companies that have good projects on the go, Senegal + Cameroon conclude that.
It’s a case of holding on to your hats and weathering the storm. Hopefully a bull market will return at some point and hopefully Oriole will still be around to benefit from it.
Is it the time to buy? Potentially , the share price is incredibly low and there is solid news on the horizon. It may not move the needle how we hoped but even returning to 0.25 is better for all investors. It’s still uncertain moving forward here with a market that has a weak appetite for Juniors. Nothing lasts forever so at some point it will turn bullish. What the Canadian investment will do is further secure Orioles future I just pray it comes in otherwise I feel, more pain is to come.
No doubt it’s incredibly difficult to raise money in this sector and I’m sure more companies will have to resort to deals that Oriole took.
Genuinely best of luck to the BoD trying to secure all they can, I don’t envy their position right now, backs firmly up against the wall.
Yesterday saw some good buying and we need more of that.
In the junior space not many companies have a compelling story like oriole so if you’re sat on the sidelines, I’d say it’s a strong buy at this price if you have a high appetite for risk, if not, wait for the CIB to be confirmed then buy it at a higher price.
If that doesn’t come in, I’d stay away.
DYOR
@Mbe
Ground mag survey - Processing and interpretation of the data will be completed by Australia-based Terra Resources during Q3-2023 and will enable the identification of drill targets, particularly within the main 3km-long corridor.
Best intervals from the partial trenching included 2.20m grading 8.47 g/t Au (MBTR001), 5.00m grading 2.03 g/t Au (MBTR004) and 2.10m grading 3.69 g./t Au
As coyote pointed out. This corridor is 700m and 3km long. The main extent of the work has been over a section 150m long and at least 70m wide.
I can only imagine how difficult it is to plan a very specific and targeted drill programme to try and maximise the results with a few specific holes over such a larger area.