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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.
Bibemi -
Talks on a JV - No other information
As it happens Coyote, shareholders were expecting money through different avenues, not just raises.
This wasn't something we made up, it was suggested by the BoD.
Now they can't control the market, which has been bleak. No denying that which makes it harder than before.
We haven't been running the company, a few people on a BB can't be responsible for the SP decline and you would be idiotic to think so.
Hunniford, (genuinely, no word of a lie) practically propped the SP alone from May - July. He is also frustrated with Oriole.
You're an investor from the Stratex days which means that money is gone. Question is, are you buying the cheap shares? and if not, why?
Cekim, take it easy mate. Enjoy the rest of your bank holiday.
Coyote, start buying more shares.
be interesting to see if that post gets deleted?
Nothing but facts.
No Optimism, No Pessimism
Just realism.
Coyote,
I wasn't going to come back until a potential CIB RNS however I couldn't let it rest.
The drivel posted on this BB has no dramatic impact on the share price. 3bn shares at mostly penal rates may?
In the earlier days as I'm sure you are aware, I could point you in the direction of numerous interviews from 2019/2020 which had Tim stating more then once that they had several million dollars tied up in Turkish assets and a Turkish legal case, this wasn't something that was just rattling around in the back ground, this was something they openly stated would bring in cash flow to help revenue. When you are rude to Mike and question his intelligence, people invested on the word of Tim and Bob who said 3-4 years ago Turkey could provide funding.
in addition, Initially the brokers at SP Angel in 2021 said that Fare alone would underpin the SP at 1.4p. Oriole is actually sitting on a gold mine at Fare, but IAMGOLD dragged their heels and didn't really progress the license in that time. That could quite easily be 1m oz of gold. if the share price had a base of 1.4p no one thought it would be sat down at 0.01? We all got caught out there.
Raises are a necessary evil in junior explorers, no one is denying that. The money to progress has to come from somewhere, unfortunately for Oriole they beat the legacy asset drum multiple times with no revenue from that. Of course the BoD would rather raise money through assets that's a no brainer.
In one breath Bob said that "Shareholders didn't understand, dilution isn't a bad thing" when they and Eileen openly admitted a year later that "dilution at Top Co kills the business". April was so profound for Oriole for this very reason. It wasn't the positive nature of the BB, it was the fact Eileen invested, CIB was a potential, Dilution was a thing of the passed.
This isn't me being negative this just factual information.
Cash balance in Oriole - £500k in April and most likely £250k in August.
The Lanstead subscription now gives Oriole £30k for August.... which a monthly cash expenditure of around £40-50k with the BoDs 25% salary sacrifice scheme. You see how for the next for months this does sustain itself.
So how does the company move forward -
Well, Oriole can't drill as the money doesn't allow for that yet so we continue to sit and wait for the CIB to come through and a Bibemi JV. Otherwise, you guessed it, it is cheese for Christmas.
The CIB -
I am speculating that this came around the time in February and the conference in Cape Town, initial deadline was end of Q2 (2 months after the RNS was posted) which i'm sure was a modest outlook, talks can take time but its been another 2 months with nothing? That's 100% (and still counting) for this investment to get across the line. Is that concerning potentially, but the RNS did say they were still in talks and would be expected in Q3. Still 4 weeks to close, beyond that, im not convinced it will happen.
“Think indefatigable optimism not congenial pessimism.”
What about undeniable realism?
***indefatigable optimism leads you to invest more… believe me.
Fair play Catbert, you put your money where you mouth is and topped up. I respect that.
I’ll do everyone a favour and stop posting.
See you when the CIB RNS comes in.
Ciao
Godofhellfire -
Yea that goes for the CLP as well. They would need the CIB to come through in order to drill.
That’s why I’m so concerned right now. Without the CIB and JV, Oriole can’t fund any drilling.
Without that share price catalyst, this Lanstead agreement doesn’t work how Oriole envisioned.
Historically Oriole have been onsite in Bibemi in September to get the new field season underway so they can start to drill mid to late September.
The last set of assays we saw were in September last year ‘Bibemi phase 4 results’
We knew there was going to be a quiet period for a year, which in AIM explorers is particularly tough as the market likes results. Also explains why the share price is struggling.
It could be my own failing expecting news to drop on the CIB or Bibemi JV but time is marching on. The CIB is 7 weeks past its original completion date estimate?
This month Oriole will receive £30,000 from Lanstead which, even with a 25% salary sacrifice scheme probably doesn’t cover the company over heads for a month.
If it continues then before you know it, it’s 2024 and we’re still waiting.
RimBob - if, when, you fly to Cameroon, make sure it’s economy. Don’t get excited at check in and bump up to Business, not even premium! Haha. With the company in a dire position and everything… makes sense right….
Https://youtu.be/QsXipez-iyA
From 3 years ago.
Pretty painful listen I won’t lie, some interesting bits in it.
Interviewer is direct and cuts through the bulls…
Yet to see 90% of what’s said in this interview materialise.
A point of note is around 30-35 minutes which talks about value and being undervalued.
Even back then they tried to push the same nonsense.
Share price and market cap don’t lie.
Also it’s interesting that when Bob brought Tim across he said we are in a bad way and have existing shareholders that need looking after.
That was 3+ billion shares ago
Lol
Hey mate ,
It isn’t but it’s by far my largest holding. Non intentional.
In a bid to average down I put in more money in, against better judgement but I didn’t see how it could keep getting worse….
Anyway
What this needs is great news after great news.
That can only be provided by Oriole
If that IPO goes ahead, not sure how long it takes Oriole to be able to sell their shares.
From memory they have 100,000 give or take.
I think they hold 0.80% of the company.
At $5 it could bring in $400k-$500k
Which would be incredibly helpful to the programme
The only thing I can see that is absolutely essential at the moment is the Canadian bank $1m investment for the CLP.
That has to come through.
Following that, a JV at Bibemi.
Without either of those things there is no drill programme in the near / mid future.
When (if) both those financing options get confirmed then Oriole should have a rather large set of drill results to look forward to across 3 licenses.
Mbe - already looks very encouraging
Bibemi - get up to 700k Oz +
Senala - results speak for themselves.
You did all the hard work explaining it mate, I just wanted to clear it up on the forum.
For everyone still unsure.
Think of it as a placing but instead of a fixed amount of money generated at a certain share price.
The price we receive can vary, so in 6-12 months if the share price reaches 0.30 / 0.40 + on good results then the monthly payments start coming in at £120k plus which fuels more exploration. This cycle could be self perpetuating
Lanstead is a shareholder so if, they do any selling above 1% it is disclosed to the market.
This makes it transparent for all shareholders to see.
Slowly slowly made a very detailed post(s) about this whole thing a few pages back.
“Here's what's happened. Oriole have issued 930m placing shares at 19p. The resulting £1.767m has been paid in full to Oriole by Lanstead. Oriole has also gifted 83.7m shares to Lanstead as an arrangement fee. That 83.7m stands on its own and is not then connected with the Sharing Agreement.
Having done the placing, Oriole has lent the £1.767m back to Lanstead. So now Lanstead has an extra 930m shares, and owes us a repayment of the £1.767m we've lent to them. (They've not been given the shares at no cost.)
A normal loan would see them repay that amount over the term of the loan, with interest. This is different. They make 24 payments, one each month. Each is the price they'd have to pay for 1/24 of their shares, if they paid a price 25% discount to the 20 day VWAP. So if the share price was constant at 25.33p they'd pay an amount equivalent to 19p per share, which is the same as the £1.767m they paid for their placing. A lower price sees them pay less. A higher price sees them pay more.
So effectively the deal is that they buy 38.75m shares each month for 24 months at 25% discount to VWAP. That's why I say the 19p is neither here nor there. That's not quite what they do. They actually get all 930m shares now, but pay for them in 24 monthly instalments.”
From my understanding. The shares have already been issued, the amount £1.7m Oriole received for the shares has then been given back to Lanstead.
Lanstead then pay Oriole in 24 month instalments for the shares.
This amount oriole receives is flexible depending on the share price month to month.
Don’t get hung up on figures as they are used as an example. they had to use a price, so used the price the share price was when entering the agreement.
The shares and money are already there, there is no need to sell the shares every month to generate money to pay Oriole. The share price only affects the money oriole receive each month.
I could be wildly wrong but that’s the agreement.
Lanstead can sell shares if they want to but that’s not to “pay” oriole
Not since last week.
I think it’s important to know for everyone who looks at this forum to fully understand this deal which I have posted below.
Proper information reduces mis informed posts which could affect the growth of oriole.
Personal feelings aside , this share price needs to climb so everyone needs to understand the facts about this agreement.
@hawaii 5 0
If I’m correct, there is no selling of shares every month. This is the difference in this case of Oriole.
The shares have already been issued.
Lanstead pay for them in monthly instalments.
The amount of money oriole get month on month changes depending on the share price during that designated period.
There is NO SELLING OF SHARES each month.
Unless Lanstead choose to sell them but that is irrespective of this deal.
I.E. Lanstead don’t need to sell them for this agreement to take place. If they sell them, it’s on their own part.
@Godofhellfire
Same here and I’m still down. Threw good money after bad
Other companies with less promising results and potential haven’t been in this situation Oriole finds them selves in. The fact we’re here is a direct effect of the BoD, not shareholders.
Even with a 2 year time frame, oriole need to convince the market this is the right move.
If Lanstead start selling their position, the market will know and once again, that will be terrible for sentiment.
No sympathy for those in charge.
I re-watched that interview and I can’t believe it.
“The benchmark price is 0.2533, so if it’s that we get £73k a month. If it’s 10% more we get 10% more, if it’s 10% less we get 10% less.”
What if it’s 70% less?
Yes there is a 2 year horizon on this but still …..
Next you hear
“This deal alone should remove any speculation about funding so we hope, naturally, we should see a progression in the share price from here…”
Really…. Really….? You actually thought that would be the case? If any thing this has caused far more concern.
It’s only month 1 so I’m expecting it to be bleak but talking about making your life hard and putting obstacles in their way.
Oriole is heading upstream at spring tide with one arm and a spoon to paddle with and the boat has a hole in it haha
I’m all honesty Mr. P
You’re damned if you do and damned if you don’t.
If the management raised after Eileen’s investment at 0.28 then they would have also been hung out to dry.
Obviously they thought the share price would continue to rise and the Canadian investment would come in (for CLP)
As it happens it hasn’t yet and here we are