Member Info for MisterPositive

"The U.S. bank also raised its fourth quarter 2022 and first-quarter 2023 Brent price forecast by $10 per barrel to $110 and $115 per barrel, respectively".

Will be nice to get Tano 2A block ratification soon.

https://www.reuters.com/markets/commodities/goldman-raises-oil-price-forecasts-very-bullish-opec-cuts-2022-10-06/

Glad to hear you calm and cool Kuttz.

I am slowly building my position here while still at all time lows. This must be on watchlist of many who were here when this was trading between 1.20 - 1.50 pence range hitting 1.90p high.

Dont be surprised if there is a sudden outburst here back towards +0.20 and higher soon now that funding is out of the way.

ORR probably the cheapest Gold junior across AIM with the biggest upside in my opinion.

https://www.kitco.com/news/2022-11-04/Bullish-sentiment-growing-in-gold-with-prices-ending-the-week-up-2.html

At $1677 / oz

52 week high $2072

ORR at only £3m MCap is way undervalued.

Think 2023 could be a very good year here when all projects are more advanced especially BIBEMI and Central Cameroon also to look forward to.

12km of mineralisation observed is not small.

Funding is behind us now.

We look forward to Bibemi MRE and EIA approval for Turkey asset where ORR has 1.2% NSR on estimated $700 million revenues. Have to see whether they end up keeping their 1.2% NSR or sell it to the highest bidder.

Should be back in 0.20s with news expected.

Sorry...meant to say:

sincerely Good luck to all holders invested here.

Kuttz
As long as you stay calm, you will do very well here over the next year or two. Gold will be making its move soon.

I see ORR at lot higher price bracket by end of Q1

Agree. This price is a steal. Wont get this opportunity again with MRE on route and lot more results out of Bibemi. They not even scratched the surface in Cameroon which should become next Hot Spot for Gold Majors.

Sincerely good luck to all the rest invested here.

Too many negative comments flying around. Does not bode well for anybody passing through and looking to invest.

Directors got skin in the game also. Additionally with Salary sacrifice, taking more shares directors showing more confidence.

Cameroon is emerging as a NEW Gold district and been underexplored before ORR moved in. You got other big Gold majors looking in to what ORR been reporting.

I was down £120k in one of my stocks 10 years ago but it roared back for me to break even.

Best is to keep a cool head. This can go back to over +1p equally fast as it came down. We know lot more about Bibemi with just 1 out of 4 zones looking at upto 440,000 oz of Gold. MRE due soon.

Yes HUR generating lot more cash now. Wish i had got into HUR around 1p or 1.5p mark. Its all about getting in early. Even now i predict 100%- 150% upside for HUR on the back of the low ball indicative offer they just received.

CEG will need to increase production over time and a nice Oil discovery elsewhere would be nice.

Point to note: getting in early and wait for value to increase over time for mega rewards.

Apologies. Was in a rush in the morning.

$350m cash balance projections pretty much in line give or take 5-10% variance at $90 oil.

But with oil forecast of $120 / barrell then you can extrapolate the $350m higher.

Current MCap is only around £150m

Just looking at projected Cash balance this should be sitting at around 15-16p in my opinion.

Very strongly feel revised Higher bid probably being worked on by the City wigs this weekend.

Prposed Special Dividend of $210m
$70m
$110m
$30m

Together cash + Dividends = $328 m (c. £285m)
Approx 14.5 pence.

Debt Free

Tax savings from $373m losses is the extra bonus

Bought some more just under 0.07

Beautiful buying opportunity at this low price

Clearly being held down here for the Big boys to load up.

Otherwise this price makes absolutely no sense.

3.1 pence in Q1 2023 is not far.

Even at 10p you get 31% dividend yield.

Institutional fund managers would be looking to get in. Watch this space.

20p very much on the cards.

Expect a higher revision from this same Bidder. They just testing the waters with low ball offer

3.1p dividend in Q1 and further dividends in 2023

Just the Corporation saving @ 19% current rate is $70m from $370m losses carried forward to be offset against future profits.

That is not priced in yet. But bigger Oil companies would love to take on board those kind of losses to reduce their own Corp Tax.

3.1 pence dividend was disclosed today after yesterday's closing price of 6.8p. That itself would take it to 9.9 pence.

Wait for Dividend hungry funds to pile in here.

I think BOD are smart and dropped a hint in todays RNS with the dividend angle knowing city institutions looking for dividend yield would like it

I would expect price to run up towards 12p area now that offer is disclosed knowing that 52 week high was 12.37 pence close.

Knock out Bid could be lot higher than 12p if other bidders enter the race.

Clearly low ball offer to start the process.

Net free cash expected at yearend $118m
3.1 pence per share to be returned to shareholders which alone takes price to +10p

52 week high 12.37 pence.

Surely any Offer to be accepted by BOD got to be higher than current share price....No brainer.