The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
Great post Coyote! It puts the agreement into perspective. We also now just above the bench mark price which is excellent. TopCo funded until August 2025.
Still anticipating Mbe to be signed prior to the end of Jan with Oriole receiving the signature $1m payment.
I think with the Senala JV. Managem may honour the second option period , pay Oriole the $2.3m to get to 70% and then not sure what will happen after that.
A full on cash sale of Oriole’s stake would be my preferred option but that may take time to negotiate.
Agreed Hunniford, lots of news flow still to come which is expected and anything that may come as a surprise will be a nice boost.
Again on Senala, I’m not sure we will have our answer straight away around Feb 17th but ultimately a cash sale of our remaining 40% would be the best outcome.
If Oriole could get $10m for that 40% then then money going into Cameroon exploration and some into a share buy back could send this to 1p +
The argument for anyone still on the sidelines to invest here just becomes more and more compelling.
With phase 5 drilling at bibemi to start in Q1. How many additional oz can Oriole uncover.
At bakassi zone 1 they could achieve 500k Oz + at just one of the 4 prospects on the license. All within a few km’s of each other.
If Oriole proved a resource of 1m Oz in a brand new country that no one has stepped foot in for Gold exploration.
If you say that again, out loud you will realise how truly definitive that is.
How many others do you think will come knocking on the door?
“ This project is shaping up to be very robust and offers the opportunity for early development of a potential multi-pit gold mining operation “
I agree Hunniford.
Bibemi and Mbe JV = $8m of value alone
Bibemi already has a resource of 300k oz.
Senala - hard to pin an exact value but Orioles 40% stake should be worth minimum $10m
Lanstead - means Topco is funded until August 2025.
As time goes buy their position will decrease and selling down should align with the SP rising as a hedge for them. 19 months to go.
If they can get similar assays to Phase 4 drilling at Bibemi. 14m @ 5 g/t amongst other great results. Then this could genuinely be 1p - 2p in 12 months
I think if the share price can hold around this price then it will be fine.
We saw plenty of buying yesterday afternoon so a lot of the market are still taking shares.
I understand the desire to de-risk but real money is made from sitting on your hands here. Especially in the short term with Mbe and Senala.
Https://youtu.be/LN91hyJ3eWM?si=4H6YN6QSSGGWr9qp
New proactive interview with Tim
They said on Friday , signature payment to be expected soon and will update the market.
Monday - here it is.
£10m mcap unlocks some purse strings for smaller hedge funds and II’s who fancy a risk on AIM.
Once we clear that we may see bigger buys come through
I’m never sure how accurate the trade tracker is with the spread , especially in the beginning of the morning.
The share price is blue, that’s all I care about.
Anticipating the next JV signed and inked in the next 3 weeks with drill programmes being released. I’m not sure why anyone would sell
@beardozer
Nic slater used to work at Merril head of market making. I feel like I’ve been around here a few years and seen a lot of posts but Prior to Oriole changing broker mid 2022 he used to be a reasonably large shareholder and take part in every placing oriole did. He popped on here a few times etc
He is reasonably active on Twitter and has a decent following and was vocal to the BoD about the Lanstead agreement although Hunniford wrote and excellent post on that earlier.
Despite all that he chose Oriole for his 2024 stock pick.
It’s just another persons opinion so take of it what you will but I think it is fair to say, we recent news and all the news that is to come there is substantial upside for Oriole from here.
Hi Cekim! Good to see ya!
I’d imagine it may be a small amount of profit taking and potential Lanstead selling a few but their holding is a was of hedging against a rising share price so they don’t want to sell too many to soon. Most likely it will be an average throughout the quarter which shouldn’t do much.
Plenty more news to come, Mbe earn in, drill programmes for both licenses, news on Senala (whatever that may be)
2024 stock pick is Oriole , Nic slater has also said that.
As a metric for Senala. There has been £20m spent on the entire license so far which is highly endowed area.
Chesser resources sold their resource for $57m only 10km from Farè.
If Oriole could sell the asset and they retain the 40%
Could fetch a decent amount of cash
A nice positive corporate update.
Very interesting start to the year with the earn ins expected to be signed in Jan (oriole having already received some money from BCM)
oriole will retain a 40% stake in Senala which a possible sale is also being considered.
Let’s go
As well as Senala and confirmation of the Bibemi/Mbe JV (which the market is expecting to drop tomorrow (Tuesday 2nd)
It will be interesting to see if the Canadian investment bank will want to also get involved as the option is still open. That would also further Orioles bias that Cameroon is indeed , a new gold frontier.
A very exciting H1 2024, if all goes well with the JV. Assays to come in Q2.
Along with confirmation of the earn in, I’m expecting to see comprehensive drill plans for Bibemi with 4 prospects which can hopefully deliver 1m Oz.
Then maiden drill programme at Mbe which, geologically looks very optimistic.
Watch this space.