Member Info for Minesinthemine

I’m not banking on anything anymore Lambinator., but pleased that the volume has increased over the last few days. Gives me some confidence that something is going on, but needs to go over 5x for me to get anywhere near even. I think Kutzz is a bit better off as he gambled some more around this level, but either way it’s going to take something pretty mega to move the needle.

Like you say, good luck.

I’m not banking on anything anymore Lambinator., but pleased that the volume has increased over the last few days. Gives me some confidence that something is going on, but needs to go over 5x for me to get anywhere near even. I think Kutzz is a bit better off as he gambled some more around this level, but either way it’s going to take something pretty mega to move the needle.

Like you say, good luck.

It wasn’t me Kurtz, but something is going on.

On the upside Lambinator, at least it means it won’t drop on Monday either….

There is quite rightly a lot of negative sentiment around this from the usual posters.

I do tend to agree and the thing that is driving this I believe, is not the fact we have all lost money, not that we can’t see value in the projects and licenses, nor that we haven’t seen activity being driven. It is Bob Smeaton’s comments about dilution.

We are not stupid or naive investors, but for a CFO there is certainly something wrong with his calculator if he thinks both the market cap, share price and money spent all add up to a well managed company. Pointing out that there is no issue to the share holders who have basically supported the company and paid his salary and suggesting there are no issues is bloody minded and wrong in the least but in the extreme is just lies.

When are we going to see some actions from this board which bring some shareholder value?

When are we going to see some of the contacts that Tim has leveraged for the benefit of ORR, not for Tim to go and get a non-Exec Directorship somewhere else.

When are we going to see some real money coming in for some of our legacy assets and some value returned.

I am sick and tired of seeing the share price eroded and the board claim there is nothing wrong.

I am too far in this to sell out and also hold some much stock I feel I deserve some answers that are not beneath me.

Come on ORR board. Read this and speak up!!

Unfortunately I think Kutzz and I used an AI method (All In) and it’s going to take one hell of a machine to fix it. Still we’ll keep learning.

But seriously not impressed. I know it was a gamble. But simply believe it hasn’t nor will it pay off.

Who knows but just a big let down really.

Not posted for a while, too many other things going on in life.

I am definitely siding with the usual crew on here rather than the board. The shareholder value has been dire and to think that they are delivering is ridiculous. I am not oblivious to the fact that we have had serious economic issues and currently have the horrors of the Ukraine war to deal with. However none of that excuses the comments coming from the board. Without the support of a lot of us on here who are 6 figures into this company it would be in significantly worse shape than it is.

Dilution is part and parcel of exploration, I accept that. However the value/results from that money have not delivered ANY shareholder value.

“The definition of insanity is doing the same thing over and over again and expecting different results."

That phrase may well be applied to many of the long-term holders including myself, but is equally applicable to the board, however like Kutzz I am so far down it's now almost irrelevant. I just hate the fact the board think they are doing a good job..... If I had performed like this at work I would have been sacked.

For me it always was a gamble, I am not (that) bitter at losing the money, but I am annoyed that the board are at the very least not the slightest bit contrite about what has happened with the SP. Jam tomorrow, but for who...... It certainly isn't for a lot of us on here.

Kutzz, hope Miami continues to be rewarding for you, it will likely to be a lot more than here in the medium term.

And we are going in the other direction....

Unfortunately Kutzz, I’m with you.

In the 2 years+ which still included all the fanfare and excitement about other assets, the Turkey court case, IAMGOLD partnership/Senala and first mover advantage with massive license and potential in Cameroon etc… We have seen further dilution, limited/zero positive response from IIs or potential partners to any of the results delivered. I am obviously disappointed, but do feel the reality is that for holders with higher averages, with each passing damp firework of an announcement and lack of market noise there is less chance of ORR being a success. I feel the most likely outcome from here is a low value takeover which won’t deliver any value for those currently invested.

With AIM and explorers there is a significant amount of luck/gambling involved and whilst I like others, did due diligence and felt good with the risk of investing in ORR, I feel this is just one of those that is not going to pay out.

No tears, happy to leave what is left of my money in here with the hope I am wrong but like Kutzz no longer believe this will come good.

GLA to all genuine LTH’s who are in similar positions.

I feel that under regulations a tough question is going to be answered like a politician. Plus as much as we don’t like the SP now, we might like it even less if we got answers we don’t want. E.g. nobody is interested. Or we are out of money in the next few months etc…

However I think I would like to know the real state of affairs. Has an potential JV given a target for us to aim for on a particular license/area? Have any IIs given any specific criteria we need to meet before they come on board? Have IAMGOLD shown any interest in accelerating or buying Senala?

Am I right in thinking we have 2 x £240k of funding already lined up from the last share issue. (Further dilution but already locked in).

What is the current draw down and are the speed of our plans defined more by lack of funds for drilling or quality resources I.e. geologists to build out targets.

The questions others are asking about our more advanced partnerships / holdings are important as any funding coming from these will obviously lessen the need for more cash to be raised outside of the business.

I would love to know answers as the LTHs have been patient through the last 2 years of drilling campaigns and seen no returns, worse significant losses. I do still believe there is something in ORR but for those with higher averages the returns will be curtailed.

Final point. As much as I am invested here with significant losses, it’s somewhat insignificant to what is going on. The world is a scary place at the moment with little understanding of how or when the Russia/Ukraine conflict can be resolved. I certainly have no idea long term or short term of the economic devastation this war will bring, more concerned about the impact on your average Russian or Ukrainian’s life. Devastating.

Let’s hope everything works it’s way out to positive conclusions.

I completely agree. I hate to say it but without an RNS there can be no ‘new news’.

I was all prepared to ask a bunch of tough questions but now figure, what’s the point. They have little ability to answer them in a public forum. Unfortunately I don’t see it as anything more than a live advertisement/run through of what has already been presented.

What we all want to know is what level of interest has been shown by ANY potential JV or IIs and what criteria have been agreed to firm up the investment. It may be no interest, but this is something they are unlikely to/unable to answer.

2nd question which relates to the above, based on the current plans when does funding run out? How are you going to adapt funding to sustain the business? More specific campaigns leading to increased results for a specific license? Less resource to extend time etc….

Bottom line resources are needed to deliver results. Results are needed to deliver value. We are currently valued at ~$7m what actions above and beyond those of the previous 2 years are being taken to maximise the value and minimise shareholder impact for new resource.

I’m afraid to say it but all previous excitement I had for this share is diluted with each damp firework of an RNS. I genuinely get the feeling we will be wiped out for next to nothing either via continued dilution or a takeover.

Remember this is the risk with exploration. The rewards are massive, but there are very few that get there. Also remember I am speaking from a position of >70% down. The view for new investors on the gamble may be mix different to my own, but the chance of success remains challenging.

Personally not expecting anything new out of Wednesday and due to work commitments it now looks like I will be unable to participate.

For those that do attend would be good to get some feedback.

GLA - it’s not over by any stretch, but the risk is still very high and in my opinion higher than last year given the continued lack of a partner/IIs.

Let’s hope there are a bunch of US investors that had the day off today given the public holiday there and will come rolling in around lunchtime tomorrow and we’ll see the SP double.

Cannot believe the complete lack of movement over the last few announcements.

I just don’t know what is going to set this alight. The board like us must be scratching their heads. Lots of answers provided to questions being asked. Maybe we were asking the wrong questions?

Let’s hope for more enthusiastic engagements at the meetings this week….

Rather than boom. I think that this will be a little more reserved than that. Very keen to see how the market reacts. With our own funds now fully invested in Cameroon and a chunk being spent at Senala there is a significant amount of work that will be delivered over the next couple of years.

It also should make the conversations the team are having this week at the 121 EMEA MINING investment event much easier. And for any IIs sat on the fence that Tim has already talked to, hopefully they will be able to see that any funds they bring onboard will support further Cameroon exploration whilst the value of Senela (should) grows without further funding.

GLA, if we can just get some people to hold into any rise that could get us back up well above £10m MCAP hopefully towards £20m/1p

I asked the question on a recent Q&A. It’s Senala license or nothing, you can’t break Fare out of it, the license terms unfortunately don’t allow.

Either way great to see Gold price going in the right direction. Hopefully we will follow.

Earl, it's great to have your positivity on the board. Kutzz, Cekim, others and I have been playing that tune for well over a year hoping there is a literal pot of gold at the end of the rainbow.

We all understand this is exploration and we are at the very start of something. However I'd say it's not patience that we need, it is a real signal that ORR has the ability to convert potential as all signs we've witnessed since investing our hard earned money has shown that the potential isn't recognised by enough people, hence why the marketcap is where it is.

Potential doesn't pay the bills and whilst today is a bad day for the markets in general due to the situation in Ukraine (albeit some winners in Oil etc..) over the next period of reporting, IAMGOLDs decision and the announcements from the next round of propsecting something needs to change to break out of this cycle. I am struggling to see what it will be that breaks the cycle of decline...However, I would also say I appreciate your optimism, from my part it's certainly welcome.

But I am with Kutzz.... as this is not a great place to be for a lot of us.

99... I think you need to stick a flake in it and wait until summer. I am in a very similar boat, .92 and am concerned about the amount of news and how much sentiment will change before we need another raise. This is the life of exploration, that you are always 6-12 mths away from the next raise, but the aim is to grow the company value between raises.

Let us hope that we can get the work done to get a decent JORC and gain more interest in Bibemi and that IAMGOLD continue the partnership in Senala.

We have a good period of time and funds available to get work done before the rainy season hence assume some more results in early Q3 after the targets are worked through by the geologists/team, maybe even enough data for a JORC.

Good luck all, I truly hope there are some bumper grades AND widths announced from the next set of targets and all of this is forgotten about.

Like your post I do feel like we are stuck in a cycle. Not sure how to break the bloody loop! When I first piled in, I felt like news was going to make this share. Now I feel like corruption and a pump and dump crew will make the share as we are in the loop of good news no movement and the more the year drags on the closer we are to yet another placing.

I think for you and I, if Tim can’t get someone interested be that JV partner or IIs this year then we can wave goodbye to any returns. There is still a chance for other to make money from here but likely another couple of dilutions and another couple of years of exploration. Our investment would be dust by then…..

Need to get back to the days of looking forward to a golden pipe, instead of fearing for the next announcement. Stuff IAMGOLD - WEARESITTINGONAGOLDMINE

Be great to keep in touch Kutzz. Very jealous of the travel you get to do. I know it’s not a glamorous as it sounds as you put the hard hours in. But when the opportunity arises you certainly seem to make the most of downtime.

Safe travels.

Let’s hope the market sees us as the sleeping giant we thought we were!

Trust me Kutzz, at the price I bought you don’t want 18m….

Happy to have someone else on the forum reminding me why I invested and doing a bit of ‘pumpin’ but I have lost faith in this. There is little point selling now as I’m down so much and I just hope that some overall economic changes drive a change in gold and that it brings some new investors over to us.

Unfortunately, I see more years and more placings before ORR becomes a ‘success’ by which time I’ll be diluted to nothing.

Hope I am wrong but there is nothing in the markets reaction to the news last year or this that tells me any different. I am afraid I’m now more on Cekim’s side of the fence than Earls.

But to be clear, I am not blaming anyone, I went into this eyes wide open. I knew the risk profile and was happy to invest as the potential vast rewards are there, just think they won’t be realised for 2020’s investors. People coming in now may get some good returns, but I need 2.5x to get back even.

Still a chance though as this is not dead and very much alive, but needs more results which needs more money to be spent to get the IIs, JV or buyout (positive one, not hostile) that will get us our return. How much more money and if the results are good enough is the gamble.

Anyway, unless some amazing RNSs pop out will probably keep away from here until F1 testing when we can have a chat about how things are looking for the teams.

Enjoy the US, it’s wet and windy here for the foreseeable and I haven’t got any time away for a while :(

Kutzz, I really hope the word Bonanza isn’t referring to a bunch of cowboys :)

Given what has happened with previous news I am not confident of positive SP change, but hope I am wrong.

However looking at the results, they are clearly starting to show the potential for a low cost mine. The remaining placing money needs to be spent wisely get us another batch of results and Tim needs to be all over his Rolodex to get us a JV or sale.

Ding ding in 5 mins let’s see what happens. It’s play your cards right - Higher or lower than .35