Member Info for MisterPositive

MCap of £7m only is very low here with production and Revenues compared to many other AIM companies with no revenues at all yet they sit on much higher MCap at multiples of CEG.

This cannot stay low forever and should correct itself in due course as production increases further.

HUR went from low of 0.66 to 12.67 pence getting to MCap of over £230m.

CEG not there yet but £7m is way too low IMO.

Company might do Proactive interview in London studio soon after MRE in my view.

One interview is overdue with each:
Proactive & Vox markets.

Buys at 15.80

Ahead of the JV announcement.

Been frustrating past 2 years since Nov 2020 when this hit 2.55 pence.

Good to see Barryroe is finally back on track.

Agree. DECC been a shambles. At least now we know what needs to be done to get it moving.

Current MCap £4m is a complete joke given the amount of Oil sitting at Barryroe.

Good detective work Hawai Five O....or shall i say Steve McGarret ;-)

ORR Mcap at circa £3m is at all time lows. Even Chesser is 10 x times ORR Mcap.

ORR looks to be one of the best turnaround plays in my opinion.

With Tim's past connections, someone i cannot keep Barrick Gold out of the picture. At some point Barrick would come in be it at SENALA Buyout OR Cameroon JV our a total Buyout of ORR.

Barrick simply watching ORR fast track things at Cameroon before showing their hand in my opinion. Will IAMGOLD also jump in the race for Cameroon?....will have to wait and see how Cameroon plays out.

IMHO, DYOR

Bibemi is definitely coming along nicely with results to date looking very good.

Cameroon generally has been underexplored until ORR moved in and from results seen so far is defo emerging as a New Gold district with ORR already having first mover advantage.

Early results from the large Central Cameroon licence suggest something special. Mineralisation spread across 12km strike length bodes very well.

Below are GGP price points since 2015 well before Havieron came to life.

27 March 2015.....0.12
9 Nov 2018..........1.13
10 Jan 2020........2.08
24 Dec 2020......37.35

ORR today is at all time low very similar to where GGP was back in 2015. Sometimes takes bit longer to derive value but we all need patience of a saint.
Easier said than done, i know. I have built a fair amount of ORR in my SIPP as retirement fund where i can wait few years. There will be multiple entry/exit points along this journey. Only you can decide for yourself, where to enter and exit.

This can climb back from all time lows as fast as it dropped over last 12 months or so. One or two good RNS and this will be back on the radar of many who already have it on their watchlist.

Now that placing is out of the way, we can focus on next updates across different projects.

Cameroon -
Initial MRE from Bibemi - Bakassi zone 1 looks very promising with mineralisation open.

Excludes:
Bakassi zone 2
Lawa East
Lawa West

Turkey -
"At the Muratdere copper-gold porphyry project ('Muratdere') in Turkey, in which the Company has a 1.2% royalty interest, successful approval of the project's Environmental Impact Assessment ('EIA') is anticipated shortly and will be a major step forward in the project's progress. The project has an initial mine plan (covering only 16 million tonnes of a total 51 million tonne resource) to deliver 68,000 tonnes of copper, which at today's prices would give gross metal revenues in excess of US$700 million".

Senala -
updates courtesy of IAMGOLD. Fare is getting better and better.

We traded almost half of Placing shares today.

240 million

Kutzz.
Now is not the time to quit here in my honest opinion. At all time lows. You been through the worse over last 12 months and you hung in here.

This should do very well from current lows. Lot going on different projects. Cameroon could surprise us all and looks very promising. Funding is necessary evil for AIM companies but ORR is not a one trick pony.

We have all faced similar dilemma in other stocks.
Any way, whatever you decide, your decision but will miss you.

Shame had just added some this morning at 0.1935 oh well...not happy but keeping cool head

At least we got this bl000dy funding overhang out of the way that been causing uncertainty for a long time.

At £2.7m MCap this has got be a No brainer. We already at the lows.

Disappointed that they raised at 0.12 ???

Could have raised at higher price just when confidence was returning here.

Managed to Buy 2m just over 0.12 as i personally think this could well be the ALL TIME LOW here.

Will monitor progress here over coming weeks and months with further updates.

Any Qty...something happening.

Current MCap is well below £5.917m

Market Price cannot stay below Portfolio valuation forever.......that is the key point.

Valuation of Investment Portfolio as at:

31 Mar 2022 £7.38m
30 June 2022 £5.97m
30 Sep 2022 ?

Markets have rallied strongly over last month.
Current MCap £3.5m ???

Lot of upside ahead.

Sudden late outburst of volume suggests some sort of news leak for someone in the know.

240 million traded.

Is an Offer coming ?

Since the Strategic update company provided.
Tomorrow would be interesting.

From 28 Sep RNS...
"At the Muratdere copper-gold porphyry project ('Muratdere') in Turkey, in which the Company has a 1.2% royalty interest, successful approval of the project's Environmental Impact Assessment ('EIA') is anticipated shortly and will be a major step forward in the project's progress. The project has an initial mine plan (covering only 16 million tonnes of a total 51 million tonne resource) to deliver 68,000 tonnes of copper, which at today's prices would give gross metal revenues in excess of US$700 million. "

Another price moving catalyst ahead amongst others. Great entry price from near all time low.

1.2% royalty interest on $700m is $8.4m to ORR.

Volume ticking higher which bodes very well here.

Very promising to have 440,000 oz from just Bakassi 1 so far which is likely to increase further.

Bakassi 2
Lawa East
Lawa West

Not included in the 440,000 ounces.

Progreesing towards MRE with news expected.

Positive sentiment should take it to 0.30 in coming days at which point 188m warrants @ 0.25 can be exercised raising another £470,000 cash.

With additional R&D tax credits of £ 400k i would forecast cash balance to be circa £1.65m - £1.7m

Warrants exercise @ 0.25 should bode well for further momentum here in coming weeks.

Bouncing off all time lows. With news ahead these rallies can gather strong momentum and fast.

Cash in Bank at 30 June was £430k
Raised another £340k = £770k

They get R&D tax credits: £400k receiced in 2021
Should see similar Tax credits for 2022.

Should get to over £1.2m cash.

ORR annual spending commitment in Cameroon is not that big. £1.2m goes a long way.

Nice to see folks realising the disconnect between Book Value vs MCap.

10m Buy should restart the Buying appetite here.

Drop here been way Overdone. Unfortunately market Overshoots in both directions. But this kind of dis-connect does not last forever. Market eventually will catch up.

Should not have dropped below 0.60 in my view.
Hence dont be surprised if this runs up towards Book value (circa £13m MCap) in quick order.