Member Info for Mayo51

Well done BIKWIK, as I said when we met at Mello London, I’ve never looked at the charts although I do quite like the phraseology.

Anyway, that day, I was convinced to return for the afternoon session and we had a great Q&A discussion with Martin after the Oriole presentation.

I am invested and would like to see progression into mining, hopefully with BCM and external, possibly Cameroonian-backed, funding.

I appreciate that many here are potentially looking for a buy-out/takeover but I’m hoping that a potential move into mining will increase our value/share price substantially beyond any exploration-based takeover.

Anyway, I wish everyone well, whatever their individual targets, within this share and would be delighted to meet to discuss further at any Investor events, AGM’s, etc.

Mbe North & South only represent circa 15% of the Eastern CLP licenses, so hopefully, to increase the JORC quantities, Oriole progress quickly to drilling the other licenses after the Mbe-N and Mbe-S step out drilling.

I presume they’ll have to enter into further earn-in agreements with BCM but hopefully they’ll be able to retain much higher percentages.

The drilling costs for the latest Mbe-N, circa 3,000 metres, appear substantially less per metre, than the original Mbe-S, circa 6,000 metres, due to the already purchased equipment and set up costs, so hopefully they significantly reduce the ongoing remaining license drilling costs and earn in percentages.

Let’s see, we’re drilling till Easter anyway, hopefully it continues thereafter, with a Senala update and a Bibemi Exploitation License also to come.

Be nice to hit the 0.40’s this week

Totally agree Cekim, it’s all about getting deals over the line, they’ll never be perfect but at least you’re adding value and on to the next target.

Hi Cekim, it was on Bob’s desk last April, the benefit in delaying and possible renegotiation would be the increasing gold price

Let’s stick with the facts, the Success- based Payments criteria are outlined below:-

Success-based payments related to the definition of JORC-classified Resources, with at least 50% being estimated within the Indicated and/or Measured categories.

Also, the Gold price is very volatile currently, does anyone really expect $50,000/oz?

Anyway, back in the real world, looking forward to a Senala JV update, an updated Mbe MRE, not sure what percentage will fall into the Indicated/Measured categories, and a Bibemi Exploitation License in the short term.

Anything else is a bonus.

Https://www.goldtentoasis.com/2026/01/31/jpm-covered-shorting-at-the-bottom-of-the-drop/

https://www.republicworld.com/business/why-did-gold-and-silver-crash-on-friday-markets-reprice-metals-after-warsh-appointment-shock

Hi GOH,

I appreciate BCM’s motives but I’m more interested in Oriole’s motives, they have made no secret that they want to be a producer, appear to have a good working relationship with the Cameroonian government and BCM.

They are pressing on with the drilling, have closed out their Bibemi/Mbe Earn-in Agreements, etc

The Bibemi small mine, I think, could be the start of an Oriole/BCM Joint Mining Venture.

Or, based on your analogy, Oriole gives a further 25% to BCM to finance the operation, BCM secure funding and if successful retain 75% of the revenue.

Or BCM, now the majority partner, decide they’ve got other priorities elsewhere and decide to delay mining, sounds familiar, therefore no revenue for Oriole.

They may choose to let it run and buy the remaining 25% later for a pittance.

Alternatively, if they do mine and the mine fails, there is no revenue for either BCM or Oriole.

What carries the greatest risk, being in control of an open mine where you know there’s gold or being a minority partner controlled by someone else until you’ve eventually realised they won’t mine until they’ve secured 100%.

I’m with you OilNovice, definitely borrowing against the asset, we’ve already established the payback.

Why would you give the asset away through further dilution when you can use it as security and it establishes a greater amount of future income.

We can welcome back the constructive discussion (not ‘what is a JORC?’) and the continuation of a steady rise tomorrow!!!

Welcome Orr Blimey, an excellent post, hopefully fantastic news shortly, hope to catch up with you at a presentation

Precisely GOH, there were posters here then complaining about the progress, why don’t they use extra rigs, etc.

I admired the measured approach, rather than just drilling blindly, they were drilling, studying the geology and continually updating their future drilling strategy and locations to determine the best outcome.

Excellent, welcome, love your name, this is bigger than Brinks Mat, though that was more South London

Of course, it depends whether you’re buying or selling.

If you’re an explorer with no access to funding you may be sub $100, however, if you can access funding, build a mine and produce you’re over $1,000.

I think that’s underselling it, I prefer to work backwards from the gold price, say average $4,000 less $2,000 mining costs, etc. = $2,000.

Obviously there’s all sorts of risks, gold price, mining recovery, geopolitical, etc but there are potential upsides.

It’s a good starting point.

Must be the only positive of a Trump presidency, can’t wait for the Supreme Court tariff ruling

I’m sure this will turn, a Bibemi Exploitation License and hopefully proceeding towards a Mining operation.

I was interested in looking at Managem, especially considering Senala, their details are as the following link, all in MAD:-

https://stockanalysis.com/quote/cbse/MNG/market-cap/

Their MCAP has increased to MAD 94bn (£7.5bn) from MAD 17.5bn (£1.5bn) in 2 years.

Their annual revenue is circa MAD 8bn (£650m) with circa £1bn (£125m) pretax earnings.

That’s with a variety of minerals, imagine the comparisons if we’re just talking about gold.

A move to mining , via Senala, a Bibemi Exploitation License and potential mine, would have a significant impact on our MCAP AND SP, and that’s only in the short term.

Hopefully, fingers crossed.

I can’t see Eileen letting it go cheaply, she’s got circa 5% of Oriole, they’ve both got mining backgrounds and have always spoken of increasing value.

There’s a limit to the value as a non-income producing explorer, there’s a significant step up and increase in value as an income producing gold producer.

When you look at the recent drilling costs for Mbe-N and the step out drilling at Mbe-S, they are significantly discounted in comparison to the earlier Bibemi and Mbe-S drilling (which included the purchase of new equipment, set up costs, etc).

Oriole have said they don’t want to dilute their assets assets further, I would imagine that even if they did, it would be at significantly reduced earn-in percentages.

If it carries on as it is, with the gold price increasing too, it will be extremely beneficial.