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I think there is genuine interest there and this BoD are notorious for keeping quiet and not wanting to say too much so I think judging from their previous history, this is a genuine, very real possibility.
A long the years shareholders have asked them for more info on “these discussions” and the morsel we have been fed about the Canadian Bank, we then can’t throw back in their face.
Even I, who has little positive to say about this at the moment, won’t s**t on them for that, it will just be a bit of a f**k up but that’s how it goes.
It appears that top co funding was probably holding it back.
So unless something catastrophic happens, I think that funding will come through.
They fluffed up and added tinsel to the subscription agreement RNS to make it look a little more appetising and try to stem the market reaction.
You shouldn’t have to rely on a bunch of PI’s on a forum to bolster the share price but here we are (again) so let’s roll this turd in glitter and lay the first step on the stairway north.
If, it a death spiral can work negatively then it sure as hell can work in the opposite, positive direction.
The higher she rolls, the more money that comes in each and every month. Oriole benefit, Lanstead 83m shares benefit and we benefit. The more that comes in, the more we can explore and so on and so forth.
Oriole need to be the ones to get this party started and have 5 weeks to do so.
Canadian investment and Bibemi JV.
@jackbal (welcome back)
“ I honestly think it was to appease certain very agitated holder that she put cash back in.
That and the fact they expected to sell 10% of CLP which would have boosted SP and allow them to start raising at higher prices.
She prob expected the Canadian million to arrive before top co. coffers ran so low.
Let’s face it she’s been paid handsomely for very little input/value.
Another consideration of mine is that nobody will invest at project level if it looks like top co about to become the insolvent.
Maybe the top co had to be funded first?
Honestly I don’t think the Canadians will pay 1 million for just a 10% slice when the value of the top co. Is so low.”
And
@panda
“ At the time Eileen made the investment the company was in need of funds to tied it over until the the end of Q2 when it was hoped the project level funding would be secured by the Canadian Bank. When the funding didn't materialise the company attempted to arrange a placing at 0.12p but when this failed to attract enough investors it had to go with the Lanstead facility as a last resort”
This is the most accurate thing I have read on this forum all week.
@legalwolf
“ The fact that they have done this deal with Landstead, does it suggest that the Canadian investment is not 'secure', noting also that it missed its initial deadline of Q2, and the fact that 5/6 months to secure £1 million from an investment bank does seem like a very long time?”
I agree and I expressed this exact view to Tim over several email conversations last week after the rumours of a placing.
They work on the scenario that nothing is guaranteed and that’s fair enough, don’t promise what you can’t keep so all we can do is wait.
So It’s a fixed agreement so the shares bought each month is the same, the price fluctuates.
The benchmark was used at 0.2533 to receive £73,625
So
If the VWAP stays this low around 0.11p.
Oriole would receive just under half the amount suggested which would mean £38,000?
Until a share price catalyst is provided in the form of confirmation of the Canadian bank CLP investment or a bibemi partnership deal?
Realistically it is going to be several months before any assays would be released from drill programmes. Most likely December 2023 or Q1 2024.
They need some news to weather the storm between now and then as the SP sitting here or lower is unsustainable long term as their monthly cash burn would be greater than income from this agreement.
This isn’t doom and gloom and it’s just basic math + facts.
Eileen obviously invested £195k for a reason.
@hunniford
This needs belt fed, excellent news for the next 6 months + to turn sentiment positive here.
There can be no more excuses from the BoD, no more “time” for these deals to go through. They have tried to sell this Lanstead deal using the guise of good news inbound to boost the share price.
They are banking on the Canadian finance coming through and a bibemi partnership deal.
You wonder why shareholders and private investors don’t talk highly of them? What is there good to discuss at the moment? All the pie in sky potential spoken over the last 2 years translates to a SP of 0.10p
Slowly slowly -
Great post and thanks for the insight. M
Companies who have used Lanstead -
Kefi minerals -
Amur minerals -
Verasien
Nanosynth group
Immupharma
————
I did check out Share prices from the RNS announcement date and followed the years after but genuinely don’t want to post it here because it wouldn’t be a good visual.
This is why I said in a previous post about it’s hard to say for sure if Lanstead was the catalyst for a declining share price or if it’s companies who are struggling and didn’t manage to turn it around.
Not to say there are zero success stories because i am sure there is several.
I couldn’t find more companies using Lanstead but I only spent 30 minutes on it.
I know Hunniford has checked out the Lanstead website but I have just had a look. A single page, shoddy looking website with minimal information, the equivalent of the gamblers loan shark haha.
Just to switch it up, has anyone seen any success stories from Landstead? Or is it all doom and gloom?
There are multiple factors in play so it’s hard to determine if using this company is as bad as it appears.
- Is it that companies who resort to financing this way are already on their knees?
- looking at the market reaction from probably 99% of investors, this looks like the least optimal option possible.
Did the BoD do due diligence and have foresight into what happens if the share price doesn’t rise and stays low?
It’s a such a shame, in April / May I had such high hopes for 2023 and I had finally thought “they’ve done it, they finally reduced dilution, they have potentially secured funding from a Canadian bank , Eileen invested £195k @0.17 - Oriole is really turning it around”
Just as you think the road to profit is more and more likely, they say “hold my beer” whip out the trump card and slap it on the table.
Please correct me if I’m wrong. I have worked the ins and outs of this, I had a two day golf tournament and decided to put my phone away.
The BoD use to whine and complain about the SP and how traders would sell into every rise which would stunt the SP growth and thus keep the share price low. They would blame it on traders.
Now, we have a company selling shares every single month which , if I’m not mistaken will stop the share price rising , with or without news, month on month for two years.
Tim should go, at best he should be able to stay on a senior geologist and Bob should probably do one as well.
What’s apparent is how naive and thick the board are.
They first try and sell placings as a good thing and that dilution isn’t a bad thing and the market doesn’t understand. The share price doesn’t rise because of this view.
They then manage to turn it around somewhere at the start of this year.
They now pull this, the final nail in the coffin. They try to convince everyone that this is a good thing and maybe they’re foolish enough to believe it.
It was so good, you would have done this long ago before any placing, but as it happens you haven’t. Clearly this is a last resort option.
Of course they have to talk it up in the interview.
After all that’s been said and done, they now think that people will want to stick around and new investors will want to come along.
Tim and Bob, Those clowns running the circus should go. Other then the small batch of results in bibemi they have failed on every measure and really screwed over investors.
No doubt this funding solution is pretty difficult to understand, I’ve got my initial frustration out and all we can do is wait, not have to worry about funding anymore and see where this leads the company.
As I said
We now have a lot of drilling to look forward to and after years of talking. The CLP is getting drilled once they secure money from the Canadian Bank.
Back to the bottom draw.
Best of luck
Anyways good luck for this week.
My advice, stay away from watching the SP until we see the work drilling programmes for this year on Bibemi and the CLP, wait for confirmation on that coming in.
Senala will also have $1.5m exploration
Bibemi - $1m
CLP - $1m
That’s $3.5m worth of drilling to look forward to. That’s why we’re all here
“and a partnership deal on Bibemi, will be greatly strengthened by having an institutional investor onboard”
Not your typical institutional investor though is it? One that’s so poorly associated with other companies?
“The Sharing Agreement is designed to remove the market's customary nervousness about cash availability, and we are hopeful that we can move to a position whereby good news increases the share price”
Not sure you’ve calmed down any nerves Tim? Although you probably didn’t need a crystal ball to tell you.
That’s irrespective of their own finances. The Canadian bank is for the CLP and not to keep the company going.
This SP action, they may as well have raised
It may not be true?
But they have managed to destroy any confidence they have built this year
Just seen this on the other forum if that’s what you are referring to?
sclper: Apparently the company was trying to get a placing away this week at 0.12p but it got pulled due to lack of interest. Insiders are now cleansed so they are free to sell shares