Member Info for Minesinthemine

No Assay’s but here’s an Essay for the morning :)
We had a big rise in the New Year with xxxm volume on consecutive days, but didn't have results to sustain the rise and the company issued an RNS.

LTHs (inc. me) that bought or added into the rise may currently be sitting on a loss, some big. As snippets of positivity come in like visible gold in Lawa, or TL's buy we see a small rise and increase in volume, but then settle back again. However if you look at the previous two years range of ~ .4p , the progress, a clear AND funded 2021 plan, you can see that sentiment and potential is getting recognised and I'd hope we've found a new support level waiting for news. (I am not a chartist).

But for any investors who think this is a golden ticket, ORR is still a risk. As we quantify the potential resources and with each piece of positive news, in my mind it becomes increasingly de-risked. By how much? Nobody knows, I personally look around other similar companies and see no reason this cannot be a £150m+ company, but we need confirmation of quality and size of resource. That is my opinion, not a valuation, not (yet) based on facts and is also obvious; Resource = Value.

So basically it is currently unknown where with good news(or bad) the SP will re-rate and how quickly, and what/if any money calls will be made from any rise to support further investment and drilling in 2022 for the other 5 licenses we picked up in Cameroon. These offer even more potential but require investment as they are in a more junior state than the Bakassi and Lawa. Though this is why I retain confidence in ORR as we have multiple opportunities.

I could have picked any number of gold prospecting companies that are in similar positions but I feel that first in Cameroon is unique and will give better chance for expedited growth than being one of a crowd. I could be wrong on all counts and lose everything, but that is my choice based on my research and hope in equal measure. I could also have waited for results before going in big, but with reduced risk comes reduced profit, and unlike a roulette this isn’t 100% a guess.

I don’t have fully rose tinted spectacles on though. I was really disappointed with the handling of news from Senegal and was openly critical of the board and communications/partnership with IAMGOLD. But already since then, I see increased news flow and positivity from them, the company hitting deadlines, keeping the market updated, so pleased with the response.

In summary, news is imminent. Good grades and who knows, bad grades and the inevitable SP impact, but all will not be lost as there are still results to come from Senala and the additional Cameroon licenses which for 2021 are still in their infancy, no doubt with another raise though we still have some warrant potential to help cover some of the future funding reqs.

For now though, my focus is on a Gold Pipe from hole #5 - Come on ORR!

Completely agree. After so Assay results it would be interesting to get some updates on the potential additional shear in Lawa too.

Lots of jest and fun around the ‘gold pipe’ of hole 5. But in all seriousness and not an element or irony;
We could be sitting in a gold mine

GLA

Leathal, they must be letting him have a lie in because it’s his birthday and we’ll have another intraday announcement this afternoon ;)

Happy Birthday Kutzz.

Kutzz, hopefully you didn't predict the future RNS with your option 1 ramp from yesterday!

Just remember everyone, this IS still a risk, but with each snippet of positive news becomes de-risked as a gamble. Even if Hole 5 doesn't yield amazing results, we still have 26 more holes to strike big grades, still have additional Cameroon licenses in infancy (though may need a raise to drill/develop more) and we still have results from IAMGOLD partnership in Senala to come.

Lots of news flow this year, in particular in Q2 and I'm not selling any of my shares (equally not buying any more!)

Basically, we might be playing roulette, but we have covered quite a few numbers, lets hope it's not a 0/00 and that number 5 comes in!

I'm not sure any of us get an badges for Ramping. I think Kutzz's multiple choice has scared people off :)

Would have been nice to draw in some more volume/investors this morning and push that price back up to 1p, but with the expectations of news flow throughout the qtr I am not too bothered.

I'm fine with Tamper or Ramper

As a Ramper, I like to Tamper, with the SP and make it go higher.

Gold pipes all round!

So for me, this is an RNS, to build up the anticipation for results of Bakassi Hole 5, "the gold pipe". It also demonstrates the team aren't messing about chewing up funds doing nothing. They are cracking on and getting stuff done as per their 2021 plan! Bravo team, we are now 3/4 of the way through the drilling program!

What we need now are some results on good (please great) grades, and looking likely these will be regularly fed throughout Q2.

As per my previous, slightly off on dates post (thanks Kutzz), the results could be any time now assumung 2 weeks from shipping to results, but should land no later than early May(using 6 weeks) and I'm personally in no rush, just pleased to have good news to stem the SP drift.

I am also loving the Intraday RNS's... Keep them coming, forget the boring 7am's.

However, in terms of the technicals from the RNS, I honestly don't have enough understanding on how to read them. I barely have enough knowledge to read grades but know bigger the number better the grade. In these RNS's, when I see comments like "there is a second east-northeast trending shear". I don't know if that is good news that we have increased opportunity. Or bad news that we have to spend more money investigating the second shear, more time and more holes etc.. to work out the mineralisation pattern.

With my simple and glass half full approach, we have visible gold where we expected it based on the drilling sites determined from the previous sampling/site analysis and the gold may branch off somewhere else too... Bonus!

Outside of all the above though... Just look at how the market volume changes for us on news! The drift of the last few weeks, with some days having single digit millions of shares traded. To today delivering (my rough Google Finance view) nearly 10m within 30 mins. It tells me there are people watching this share, the news was well received. What I want to see is enough news and interest to get us back to the XXXm shares trading days of January and that becoming the norm.

My summary though, which could have ripped up all the above - Good job team, keep the news flow coming, let's get the Gold Pipe news for hole 5 out!

Looking at the ORR RNS's and timeline. It was confirmed that drilling in Bibemi would start in early 2021 and then we had further confirmation that is started in January and then22nd March got news that the holes were 1/3 done, then on 31st March confirmation they were ~50% complete.

We also know that on the 22nd March they confirmed that hole BBDD001 samples had been sent for analysis and we got those results back on the 31st. What we don't know is when they were actually sent, but may have been sometime in February. and I have no issues with a 4-5 week lead time from packaging/sending to receiving the results as it ties in with getting results in Q2.

We also know from the 22nd March annoucement that samples from BBD002 / 005 were being packaged up ready to be sent by the end of March. The results could be any day, but I'd prefer to be caution assuming that hole one was completed end of Jan, packaged up mid Feb, hence for these next two results I'm not getting hung up but results may not drop until late April or early May, or they could be today... Who knows?

Either way, I am totally calm and happy with my investment here. The team laid out their plans for 2021 and stated that the first results would come through end of Q1 (31st March actual) and the rest throughout Q2. Hence there's plenty of new flow incoming in Q2, with holes 2 and 5 immintent. Clearly if the results are positive I'd like to see a strong AND positive reaction to the SP and hope to see some increase in the Gold price throughout this qtr to help support.

GLA

I think we are both gambling men given this investment, but looking good so far. I’ve taken a punt on the Grand National with a bit of interpretation on the name - Mine-ll-a-Celebration and Taking Risks. I thought “ Any Second Now” was pushing it a bit too far, but they didn’t have a horse called “Some time in Q2 we’ll have gold pipe assays”

Obviously still all the associated risks with this share, but equally still the upside of getting in early. Just wish I’d stuck more than I did at .2, but with hindsight trading we’d all be millionaires. Either way I’m very comfortable with my risk here and am happy to bide my time. Just have Trojan buzzing in my head to think about when a placing might come to support 2022.

Have a good weekend all.

What odds on a ‘gold pipe’ from hole 5 though.... :)

Nice turn around of the SP since TL stuck in £5k.

I should know but don’t, if that pushes back any imminent news on the next hole/results. I am certain there are some rules about announcements and purchases.

Either way it’s good to see the top man putting in some money that isn’t just an options purchase it’s £5k of his own money

GLA.

You and me both Lethal.... The next Assay better look like a big gold pipe

I’m not in a rush for news. Just want to ensure no more communication slip ups like the Senala drill completion and really need a strong showing from the next batch of Cameroon holes.

Would be great if they dropped one hole RNS per week through the rest of the qtr. Or maybe it will be done in a big RNS with fireworks.

Either way I’ll know whether we are smiling or scowling by the end June latest.

Kutzz, I've accumulated 14m now..... My average is 0.94p though so not looking too bad, but annoyed with myself as I averaged up a lot on the spike.

If the results for holes BBDD004, BBDD005 and BBDD007 are stella then we should be very happy. But if they return the same as the first hole then may not be smiling too much...

This is a gamble, but the team are doing a good job. We've got IAMGOLD working on Senala too and 2021 is funded.

Just need good results by summer, so that like Trojan has said they can raise to fund 2022 from a decent position.

I was trying to stem the flow of sells yesterday and picked up nearly 2.8m shares... No funds today though and definitely at a point of being overleveraged. Fully understand the risk profile and know this is exactly that i.e. a risk.

Seriously hoping for stronger results than the first hole or this will be travelling a lot futher south, but confident that taking a full view of activities throughout 2021 this is a good place to be, we've just got to hit some good grades!

There's lost of news flow expected and with good results volume and interest should increase but yes... quiet at the moment.
This qtr work on Senala by IAMG is going on, hence should get some results in Q3 and then they will be back on site in Q4 after rainy season to finish off the planned work, so should get results Q4/Q1 from this.

But the big news everyone is waiting for this qtr are the results out of Cameroon. Half of the drilling programme of 3,080m in 28-holes at Bakassi zones 1 and 2, Lawa West and East are done and results like the one recently will be dripping throughout the next weeks and months in Q2.

Here's hoping for some stronger results than the first hole, but should be good news flow for a while.

Cannot buy any... At least through HL..... Trying another top up / avg down... But cannot buy anything...

I was just putting 2 and 2 together and hoping to get more than 4. I.e. Investors that trade mining shares on TSE get an opportunity to jump in first thing in their morning. But given volume, interest from anywhere would be appreciated, so we can maintain the SP whilst waiting for the news on subsequent holes.

Does anyone believe there is anything in the timing of the Monday's presentation/event and todays RNS to target investors in the West i.e. US and Canada and try and get some interest from those investors.

As others have said, Monday's presentation didn't have any information that hadn't been provided before, just reafirmed expecations of news flow.

Maybe absolutely nothing in it and whilst atypical there are plenty of RNS's released during trading hours. Just wondered if they wanted to give other investors opportunities to get in on new news first thing for them.

Kurtz, Irish up that coffee and tequila up that sunrise. The ride is about to open!