Member Info for Legalwolf

They have secured their salaries for another two years though, no matter whatever else happens. Good outcome in that sense for them. All imo

Listening to that, did you get any sense that there is any rerate worthy development coming here any time soon? I’d be very angry as a shareholder here at the total disregard for share price performance and thinking it’s okay to just continue diluting away like this without any end in sight and no firm timescale or coherent plan to return any value.

Im afraid this is a pure lifestyle ramp. There might be some P&D trading opportunities, but that’s as good as it’s going to get. Expect more dilution followed by more “project development company” nonsense followed by more dilution, with occasional spikes in between.

Been saying this since day dot and it should now be obvious to most on listening to that. I would look to trade out any serious investment here and put your hard earned cash where it has some chance of growth. Nothing to suggest that will happen here. But all imo and dyor.

Absolutely. If people are optimistic about share price performance in the run up to spud, they are entitled to those opinions and to air them on here. It's a BB for share discussion after all, and most discussions on these BB do centre around the share price, and nothing wrong or unusual in that. I think most of us can tell when someone is going beyond this into the realm of ramping or de-ramping. Usually lots of clues, one of which is that they only post on that particular share. Oh...

Was that £87k at 4.6p a buy or a sell?

Re the Prospectus, the longer it goes on, the more I suspect the delay is with GCAT and not the FCA, with the explanation being that GCAT are not done with their share dealings just yet, and therefore not ready to finalise their Prospectus. But of course, RM can clarify. All imo and dyor

I'm afraid I found it totally uninspiring. I really don't know why she even bothered. It is clear to me that there is NO actual financing on its way anytime soon, only more dilution, potential share consolidation, and (I suspect) just more wishy washy "project development company" type of newsflow, which won't bring any shareholder value. At one point, she even referred to the gold JV as a future funding source, which is just ridiculous when you consider how many years away that project is from generating any revenue. There were some telling moments, for me, where she just seemed to say what was needed to appease the question. For example, saying that she would put Director purchases on the agenda for the next meeting. Err... why did it need a question to prompt this action. They said when they dropped the scheme they would replace it with something, and yet they haven't, even with the shares trading at ATL.

This is a trading share at best, and will just end up with P&D type action from time to time, followed by more painful dilution and more placing overhang, i.e. a continuation of what has been happening in the last two years. All imo and dyor

"The proceeds of the Sharing Agreement will be used primarily to provide funding for the Group, as Oriole continues its strategy of seeking joint-venture partnerships and project-level financing."

So does this basically mean salaries and working capital, rather than anything that creates value for shareholders?

With a lot of selling already cleared during July, and strong demand coming in at these levels, I think we are looking set for this August push into double figures? The media attention will continue to increase as we approach spud, and we will also be getting RNS, which will all help.

Decent sized trades continue to go through here. Now being quoted 0.69p for £2.5k. If this 'buying under the hood' continues, only a matter of time before this starts trading in the 0.7s. A move towards 1p very much on the cards here on this financing.

Being quoted 0.69 now for £2.5k. Definitely looks on for that 1p - contingent on financing of course.

Doesn't sound like we're going to get a speedy resolution here. I personally think its going to have to be the Sri Lankan courts that sort out this mess, rather than the lobbying efforts or the COPE investigation. The question then becomes how long that process is going to take. If the rogue elements grant the licences to a third party - as is now being feared - can CMET then apply for an injunction to prevent that happening?

The fact that GSMB have not taken away all of Damsila's (i.e. CMET's) licences shows how illogical and dodgy its decision making has been here imo. How will they defend that in court?

AG - that might be right, and you are more likely to be correct than me on the details. I guess what matters is when Naheed is looking to sign binding deals on offtake and finance, which I believe are the two most commonly spoken about "value" points on here (with the DFS process also being spoken about as a potential share price lifter). And how ORCP will be funding itself during this period. I hope tomorrow's Q&A is not going to be left vague and open ended, with Naheed talking up a good game, but not giving any time commitments, leaving everyone guessing or hoping again. Can't have another 12 months of non binding progress because its not delivering any value. But let's see what she has to say. All imo

Tested the bottom of this consolidation twice already and taken whatever liquidity is on offer between 8.5p and 8.8p. Now testing and taking whatever liquidity is remaining at 8.8p and 9p. If we get a decent close today then should set us up for August and the next leg up. All imo

Hopefully, the next quarterly won't contain any surprises.

So long as ECR remain on track for September drilling, the share price will remain on track to retest the wolf's gap in August.

Once they confirm that drilling, I would expect more volume to start coming in as well.

KAV have investors who will want a return on their £6 million investment. There isn't going to be ANY room for BT to fail them, otherwise he will be out himself. Little wonder then that they have purchased their own Rig, and I expect they will go hell for leather over the next 12 months to deliver a return for PB, for their own shareholdings and ultimately, to keep themselves in post.

So you can add 'highly motivated and energised management' to the list of reasons to invest. All imo

Also important to hear what happens next with the DFS process. If it's preliminary, will it mean that ORCP have to commission a full DFS. If ORCP does have to commission a full DFS, then I'd want to know how long that is likely to take, whether it will be needed before finance can be arranged (or whether the preliminary DFS will be good enough), and how it will be paid for, etc. Time for Naheed to start answering some of these specifics, so that the market can understand what she means about creating "value" and the validity and timing of that. All imo

And actually, seeing as I am not done accumulating, feel free to continue trolling KAV and spouting anti BT rhetoric. I have funds arriving in a couple of weeks and will be looking to double my holding here, and so if I can continue to buy shares at these (bargain) basement levels ,and before BT starts to put the financing RNS out, I will actually be very happy and most grateful.

FK79 - exactly. I'm not here to lament about past performance and failures. This sector is full of failures. I'm assessing the position as of today, and whether I think KAV represents value as of today.

In fact, how many juniors right now, in this tough market, will have £6 million to attack their projects with, or anything close to? If these de-ramping trolls, or genuine but sceptical posters, can point me to better value propositions, in terms of a junior trading near its ATL, but with big financing incoming, I am more than happy to consider them.

So there's your challenge Cox and Co, point me in the right direction then?

I think it's good that Naheed does these events regularly. So credit to her for that, especially as she took a bit of stick at the last one. I still recall the "all talk and no action" comment she got. At the last one, Naheed talked a lot about creating "value", without really saying how or when. This time, and months later, I hope she is able to be a little more specific in terms of the how, what and when this "value" will be delivered. Will she be able to say roughly when she anticipates binding agreements being reached around offtake and financing, for example?

Especially as, during previous discussions on here earlier in the year, a number of posters were saying they thought these points would be reached by the end of 2023. If there is any real prospect of this happening in 2023, it would be really good to hear this from Naheed. All imo