Member Info for Orr_Blimey

Great to see FCM rising nicely. Currently 4.28. Once details of the Kerrs tokenisation scheme are confirmed (and the related upfront payment) and Sunbeam & Roy assay results released we should hopefully see a further significant increase - possibly 7p+ / 8p+.

Why not have both? A 1p party and then a 2p party.

I agree with all of that Henchking. Maybe I am missing the forest for the trees. I think the initial figure of 360K for Mbe-N seemed low to me, but I agree that the grade is fantastic, the modelling looks good and the "open in all directions" is definitely a positive which I mentioned in my analysis.

Let's see how ORR does over the coming weeks....

I am not deramping at all. I am just giving a factual and clear view. Read the RNSs, look at the facts and understand where Oriole actually are.

Today's RNS for MBE-N was definitely not as good as I had hoped and it certainly not a monster resource as some have suggested. Let's be realistic and not get too ahead of ourselves. Whilst I do want Oriole's SP to rise massively, my analysis is as follows:

The Mbe-N JORC expectation was 370,000oz to 605,000oz. As per the RNS on 16th March - https://www.lse.co.uk/rns/ORR/final-drilling-results-from-mb01-n-76jcpumkkuyg04v.html.

Today's JORC confirms 360,000oz so this is 3% BELOW the lower end of the expectation set. So not a great result (a fantastic result would have been Mbe-N JORC of 600,000 Oz +).

Combined with 870K at Mbe-S this gives us 1.23Moz. Step out drilling at Mbe-S nay add perhaps 150K Oz across the 10 holes.

So we get to around 1.38Moz. And remember, ORR own 50% of Mbe so 1.38Moz = approx. 700,000 oz for ORR. (ORR actually own 40% of Mbe but will get this to 50% soon).

Bibemi is 50% owned so the 460K Oz = 230K Ox for ORR.

Total gold for ORR is approx 930K Oz.

This is mostly inferred (there is some indicated at Bibemi).

The market values inferred resources at maybe $12 - $15 / oz which is close-ish to the current mkt cap.

The positives are that Mbe is still open in all directions so further step out drilling can increase the total ounces. And the grade of gold at Mbe N is above the target range. The target grade range was 0.77–0.94 g/t and this morning's JORC grade: 1.05 g/t so this is good.

GoH is correct ORR will likely appear on the radar of many institutions but they won't buy if and until the exploitation licence is granted.

So I feel Oriole won't jump massively unless step out massively expands the ounces above 500,000+ (and step out at Mbe N will take some time as only S has started). The Bibemi EL is a very important jurisdiction derisking event we will see an increase in sp if and when this happens so that's the next big catalyst. And the there's Senala too.....

The trajectory is positive but it will take some time.

OK thanks BIKWIK - so that means we won't get the $1million ounces-related payment for a while yet, not until we get the Mbe N JORC and then step out and infill drilling to categorise at least half of the 1 million+ JORC oz in to Indicated.

Step out and infill is happening at south so we'd need to see 500,000 of the 870,000 at Indicated - plus Mbe N JORC to be over 130,000 (which is looking likely) -otherwise we'd have to wait for Mbe N step out and infill to happen to help get to the 500,000 Indicated oz.

This might take a while.

I have a question about the $1m payment under the BCM deal.

It's been stated that when we reach 1-million-ounce of JORC-classified Resource at Mbe, the $1m payment to ORR becomes due. But is this payment due when we reach the 1 million ounce mark or does it depend on whether the ounces are in the inferred or indicated categories? As at the JORC stage most (if not all) of the ounces are likely to be in the inferred category.

At the link below. it says "A maximum of 10 Resource payments are payable on the release of JORC INFERRED Resource milestones set at 1-million-ounce increments "- but in the left margin it says "with at least 50% being estimated within the Indicated and/or Measured categories."

https://uk.advfn.com/stock-market/london/oriole-resources-ORR/share-news/Oriole-Resources-PLC-Mbe-Update-Heads-of-Terms-s/92601267

This is important because in the Maiden JORC Mineral Resource Estimate for MB01 South on 21st Oct 2025, the entire 870,000oz is in the inferred category with 0 indicated - so we are not yet meeting any of the 50% in the indicated category.

Also - the $1m payments are for Mbe only so we cannot include any of the Bibemi ounces. I haven't read all the terms in detail so I may be wrong hence asking here for clarification.

Just wanted to clarify so that our expectations are clear for when the Mbe N JORC is released.

BBC News article today re the POG - https://www.bbc.co.uk/news/articles/cvgd8kj2y2po

0.35p right now (Sunday). Looking forward to finding out what this week has to offer. From the LinkedIn video, I feel it's going to be quite an exciting week! Expecting decent RNS and significant positive news flow....

Good afternoon all and a happy Friday. I just thought I'd introduce myself since I have been investing in ORR since August and have read pretty much every single chat post since then. I just wanted to let you know that I am here and support you all and wish Oriole does very well. I have just opened my LSE account and this is my very first post.

Thanks GodofHellfire, Gold Geezer, Cekim, VikR, B_Positive, Mayo51, OilNovice, BuyThose and many others who've been helpfully informing the discussion and providing useful insight and research.

I initially bought ORR at the end of August after the Mbe South Bonanza gold find RNS as I didn't want to miss out on the 'gold rush'. I bought in at 0.47p and although the price has dropped since I have been adding more and averaging down so I am pleased now with a decent sized holding at an average in the low 30s.

As GodofHellfire always says DYOR - which I have been. The HUGE potential in the CLP and Mbe south and north looks superb. I've looked at all the CLP (Tenekou, Niambaram, Pokor, Ndom and) and Wapouze and it looks good to me. Securing the Bibemi exploitation licence will be FANTASTIC! Approval of the PEA at Bibemi is a solid step forward. And then we have first mover advantage, a mine planned. opening up a new gold district in a new country for gold mining - and a government that is favouring corporations to mine rather than lose gold to artisan mining as we've seen with Cameroon's gold going to the UAE. Senala adds even more positivity to the story and then there's the assets in Turkey too. No debt, backing by BCM, investment from RAB Capital and Directors saying they do not wish to dilute much further all sounds good. Plus the view from Martin Rosser that Oriole wants to be a gold producer eventually all adds to the positive view I have. All this with a gold price environment being extremely strong and about to push through $5,000 is fantastic.

The current £17m MCAP for ORR looks ridiculously low - so there's huge potential for a massive rerate. I appreciate options and warrants may dilute us somewhat but the benefit from the money received will far outweigh the dilution effect IMO. Yes there are risks, but I feel that we are sitting on a HUGE opportunity here so I am investing with my eyes fully open.

I just wanted to say "hi", and thank you all for all your very useful input and information. I may come to an investor presentation one day.

If we can get over 1p, 1.5p - I'll certainly be saying "Orr_Blimey". :)