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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.
Re watched the old interview from Bob in April when he was saying there is a pretty clear pathway to 1m Oz at Bibemi.
Oriole is so close to unlocking Cameroon via Bibemi and Mbe. If you can show 1m Oz then cameroon will be officially on the map.
Dry season is about to start so I’m hoping we get a wealth of good news to kick it off.
Apples and oranges mate.
They’re in a completely different position to Oriole.
They have several mining operations and produce revenue.
Comparing the number of posts on a forum as an indicator to share price growth is juvenile.
***In my opinion, as always DYOR***
They have 20 trading days left to secure the CIB in Q3 which was adjusted after it didn’t get secured in Q2.
The longer it goes on the less likely in my opinion not because of the assets but the top co funding situation gets increasingly worse month to month. Without a SP catalyst , the needle won’t move and at this level, the Lanstead agreement doesn’t offer enough money to cover the top co needs.
What happens if your salary doesn’t cover your mortgage ?
No doubt there is probably a great amount of stress in the office right now.
I’m sure coyote can come on and tell me I’m pessimistic and don’t listen to a word I’m saying and by all means, ignore me.
DYOR and look at it objectively. Assets and a huge land package mean nothing at the moment.
I more than most hope they can get this project level financing sorted and it looks like it will be the last minute of the last day.
They said in Q3 so they still have a month to close out the deal. Once that gets sorted, the only concern is how Lanstead choose to operate in their position.
Whether they do in fact decide to sell shares off in which case we will be notified through and RNS or they remain a large shareholder.