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Evening Beardozer .
I agree, I said to the Mrs this would dip between the JV’s being signed and drilling and I was right, didn’t expect it to be this far down.
Long story short, I said I was going to stick around for the drilling at Bibemi and ultimately I’d like to be around for Mbe drilling.
Given the results I posted yesterday, we know there is high grade and good intersections. I don’t see why bibemi can’t get to 1m oz.
It’s just the interim which the SP dropping that is frustrating however we have to wait for the results as that’s where the real gain is made.
Look at empire metals, GGP, (I know people will say you can’t draw comparisons , to those people I say go away, I’m using it as an example)
The share price did multiples of good results. That could happen here going off the phase 4 results and now they understand the geology better. Should be able to locate more.
We wait for bibemi Assays and whatever happens in the meantime , is up to the universe.
Just look at the last set of results from Bibemi -
BBDD034 extension
o 2.00m grading 39.42 g/t Au from 160.00m including 1.00m grading 75.36 g/t Au
BBDD050
o 4.30m grading 3.33 g/t Au from 53.30m
o 5.50m grading 1.80 g/t Au from 66.00m
o 14.80m grading 4.27 g/t Au from 104.30m including 5.00m grading 10.22 g/t Au
o 7.70m grading 2.74 g/t Au from 132.10m
o 1.00m grading 17.01 g/t Au from 141.80m
o 9.60m grading 1.11 g/t Au from 148.70m
BBDD052
o 3.00m grading 1.17 g/t Au from 41.70m
o 8.00m grading 1.06 g/t Au from 65.30m
BBDD053
o 3.00m grading 12.30 g/t Au from 58.00m
BBDD054
o 1.00m grading 6.52 g/t Au from 37.00m
There is evidently high grades and good intersections at Bibemi. Who knows how many metres and what the drill plan looks like, I honestly thought we would have had an RNS by now, going off what used to happen in the past.
"So what has happened to the Canadian investors" - it said in the Mbe RNS that had been cancelled because the BCM deal went ahead or words to that effect.
"What about the cement deal" - Who cares about the cement, it was merely fluff to try and bring in investment.
"What about early gold production as telegraphed (remember they were supposedly talking to parties) "- BCM is a gold miner and have the contacts/resources. Tim spoke about this in a proactive interview but many steps need to take place first.
What about new JV's - We shall see....
"What about the prospective sale of Senala (I fear Managem Group are more focussed on the nearby Boto project) so it looks like a stalemate dressed up as forming a JV company." - Agreed, disappointing outcome for such a prospective region.
"Elephant Oil, forget it" - Side show now, shame they never got listed
"Muratdere well who knows, the royalty might be worth £1m to £2m but nothing EVER happens in Turkey" - Again shame, but as you said it is Turkey and at the time was more fluff.
Eileen has been the golden goose here. Invested £200k and organised the BCM deal as it was most likely her contacts so thank you Eileen.
It is easy to get frustrated with the SP and the company, I feel it right now. I thought all this was behind Oriole but it's a lesson to learn with investing.
I’m back, couldn’t keep away.
Cekim, it’s been red every week for the last 7 weeks so it’s probably a secure bet.
Elon musk/ lucky abigale should do a spreadbet on it …. 🥱
Regretting my decision to not sell at 0.50 and now I’m back in red figures. Wild swing for the account. Could have got out and fancied my chances in crypto. At least that goes up and down , this seems to mostly go down.
It appears they will be drilling now (once those drill pads are ready) then they examine the core and send samples off to the lab. I predict results will come back in June. Last set of results took just over 2 months from drilling to results RNS.
Anyway, as said before. Volume here is low and it really needs news, but you just have to grit your teeth, go back to what we’re used to doing (bag holding) and hope they can deliver.
The mcap is worth less than what’s in orioles bank and the 2 JV’s it’s mind boggling but here we are.
I agree Hawaii 5-0. Lanstead need to be pushed to give an update on their holding. This decline from 0.40 - 0.26 , I don’t believe is due to PI’s. The position the company finds themselves in, with BCM, $8m in exploration , $1.5m in signature payments and Cameroon in general. This is one of the more secure gambles on AIM, yes there will be profit taking but this drop seems excessive. We have fallen to a baseline pre- Mbe signing which in my opinion is absurd.
On paper , Lanstead to sell 1.8m shares a day and that would easily be absorbed, in reality they dump months worth of shares in a small time, at the end of the day it’s their business model to make money but it’s at the expense of companies growth.
That being said, we do find ourselves in the situation where Lanstead have been dumping shares. The same thing happened in November 2023 - end of year. If we saw a TR1 I think we would be surprised at how much they have shifted since December. Most likely , in the last few weeks.
I haven’t really posted as much recently, mostly because I’ve feel quietly confident with Oriole and this is the best position they are in since I have invested. I can actually say with truth that I don’t need to monitor the share price / company activity daily because I think this easily reaches 2p with the right drilling results from Bibemi and Mbe
1 month ago I was up £150,000 on paper and now I’m back to around my break even. It’s annoying to see 6 figures profit evaporate in the space of a few weeks despite where the company is at, but because I remain with a lot of faith I am switching off.
Drilling at Bibemi is about to get underway and results won’t be due until end of Q2 maybe into Q3.
Mbe trenching should be starting soon but again, results will be a few months away.
Any other JV news that may surprise us is welcome to come but I won’t be checking daily, Lanstead are not going anywhere and I feel this daily/weekly short term misfortune will continue because of it.
Forget what the company are doing on a daily basis and wait for the big news to come, and it will.
I’m sure when I check in a few months - 6 months time I will be pleasantly surprised but right now, I’m over checking so frequently.
I have a few friends who also hold big positions so I’m sure I will hear via them what the crack is, but personally I don’t care to check until drilling results.
If this is still low by April 6th, I’ll dump my years ISA allowances for cheap shares.
See ya’ll at 1p.
Be nice to get a…
“Bibemi exploration update - Cameroon”
Drill bit is turning, we have intercepted huge intersections of mineralisation…
Results anticipated end of Q2 / Q3
Check out this drill programme picture and buy more shares etc.
That’s what I’m hoping for soon.
Wet season in June. 3 months till get many holes in the ground and develop the resource to 500m oz - 1m oz
Gives you another opportunity to buy lower cekim!
We know there is lots happening throughout Orioles portfolio this year. It is hard to understand why the market doesn’t realise yet however AIM is fickle.
Also , crypto is going on an insane run. Traders rainbow chase and the crypto market looks attractive .
On average Lanstead should be selling 1.8m shares a day, which in reality would get absorbed quite comfortably.
That’s not always how they operate as they have their own business model.
It’s important to note that the price is above the benchmark price at the moment.
In regards to 1p. I’d love to be sitting on that price right now (£35m mcap) however there is still a headwind to get there. Warrants and Lanstead.
Again, Oriole is fully funded with exploration and financing. Sit and wait for 1p
I’d imagine, giving the potential most PI’s wouldn’t be selling however there is a lull in activity after December & January.
Crypto is also about to go through a super cycle so a few might be selling to put money in there.
My opinion is that Lanstead have started selling again, most likely the unknown trades we see are them.
Once drilling has been confirmed and there is a rough time frame for Assays this should get more interest.
Going from previous RNS’s on signature payments.
8/01/24
30/01/24
I’d imagine the final payment may come through today and we’ll be notified at a similar time to the last 2 RNS. Around 10:30. That’s my guess but may also come through in the next few days which is nothing to be concerned over.
Agreed, this is definitely one of the better plays on AIM this year.
For those invested, the only concern you should have in regard to Oriole this year is the tax you’ll pay on the profits and what you’re going to spend a lot of money on.
I agree Hunniford.
I think it’s a simple as :
Lanstead oversold their position in Q4. Their RNS showed they sold 23% in just 4 months. Given that’s almost 1/4 of their position in less than a 1/4 of the agreement.
Oriole went on the run from December and Lanstead rightly so, got caught with their paints down. (good)
Now we’re 6 months into the agreement , I’d imagine Lanstead will hedge their bets more wisely and not over expose themselves.
For those who said ‘death’ spiral (myself included)
This could actually be a growth spiral.
Plenty of news flow due throughout the year, most importantly drill results , trenching results and any potential JV news.
I believe, Tim said they were mobilising rigs for Bibemi but wanted to confirm drill targets with BCM as well.
I’d imagine we will get an update on Cameroon when that is confirmed and they are drilling. Trying to build the resource at bakassi to 1m Oz which I think is achievable
The final signature payment is due at the end of this month as well.
Mbe:
I saw on Twitter they were doing some structural ground work at Mbe to define the system. Hopefully that gets drilled this side of the wet season. Although I think the prelim work will mean it’s drilled after, I’m excited to see results from Mbe. It looks incredibly promising.
I think, if there is an update on the Senala JV. It will come early next week. My guess, Monday or Tuesday.
The JV is officially finished Feb 17th (Saturday) if it is a sale of the entire license or Managem wish to acquire the remaining 10% then I don’t expect money to change hands at this stage, however, I would like to think they know how it is moving forward.
They may choose not do anything with the license.
Senala has been a real shame for Oriole. Despite mega results at Farè, IAMGOLD didn’t prioritise the license. There is a clear pathway for a big resource there, just look at Chesser, similar geology and 10km’s away.
Let’s hope Managem have some spare cash after their IAMGOLD deal to buy this. Even a conservative $10m (10% = $2.3m due to the underspend) x 4
I could be in fairyland thinking along these lines but a deal like would see this re rate again ahead of Bibemi drilling.
Either way, Oriole has $2m in the bank by the end of Feb and $8m of exploration to come.
As well as any other potential JV’s following the mining Indaba.
@ginger hippo
I’m just joking, was meant more as a bit of fun than anything.
I’m expecting news before the end of Feb but no idea what that will be. In theory , out the 3 outcomes is positive , positive , neutral but I have a feeling the natural will be perceived as negative purely because this has been hyped up to be a major news catalyst.
Regardless of the Senala circus.
Bibemi drilling to start soon