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And a perfect inverted head and shoulders playing out here. Get ready for blast off once 4.1 is broken.

18.9m buy now reported from 12:06, so it seems that the MMs walked it down to fill it.

Drop way overdone and the bounce back is underway now with heavy buying pressure since 12:15

Link doesn’t seem to work. Try this one instead: https://postimg.cc/XpQx4hdg

Courtesy of Billy Ray Valentine on Advfn: [url=https://postimg.cc/XpQx4hdg][img]https://i.postimg.cc/HkCN41LF/photo-2022-03-29-11-05-04.jpg[/img][/url]

Well done beardozer. I guess the reason you had difficulty buying any more on Friday was because the MMs were filling Eileen Carr’s order. I think her second purchase since taking the chair confirms that with the cash about to come in from the Elephant Oil shares and possibly from other legacy assets, there is not going to be any fundraising in the near term, so onwards and upwards it should be here imho.

Courtesy of Silverspoon on Advfn:
silverspoon200924 Mar '22 - 08:09 - 3712 of 3713
0 2 0
ORR stake in Elephant Oil could bring in some useful cash, Red Rock made the statement (below) today

ORR has around 150,000 shares in Elephant Oil - work it out, not priced into the market at all IMO.

RRR has c397,873 shares in Elephant Oil Corporation, where an application for listing on a North American market has now been applied for. Current expectations, as reported to RRR, are for an early April listing following submission of an updated quarterly report. Should the listing occur on the terms indicated to us, the Company is likely to possess a liquid asset with a market value in the millions of dollars.
https://i.ibb.co/2vVXqf8/ORRELEPHANT.png

Missed the conference today but a recording is now available here: https://webinars.6ix.com/6ix/Day-1-Part-2?bmid=75edcd9104cc

Not had time to watch it yet.

From Shard this morning: https://wp-orioleresources-2020.s3.eu-west-2.amazonaws.com/media/2022/03/Shard-Capital-ORR-CLP-soils-14-3-2022-R.pdf

It is very upbeat and should lead to some buy in from their many HNW clients.

Yep and they have the perfect platform to launch it at tomorrow ‘s 6ix event with a multi national and sector focused audience. Be sure to register if you want to tune in.

Unable to get a quote this morning, so I’ve left a fill or kill order. I expect the MMs are trying to find out what inspired Friday’s rise prior to releasing any more stock.

ORR are talking part in this event on March 15th. Details can be found here: https://6ix.com/conference/?_fs=9fd3d1ee-9708-4eb9-a57e-2569853b0fd8

Can’t help thinking that it is very odd for a 79 year old to still be in acquisition mode, so what’s CB’s exit strategy here? Is he front running all these deals with a view to Sandfire or another mid tier miner swallowing the company?

If so we could wake up to a very pleasant surprise here one day.

Gold hit $2000 an ounce this morning, and a rising tide will in due course lift all boats in the sector, particularly with Russia focused miners like POLY and POG in dire need of some diversification. Sitting on my hands here waiting for the move to start.

(contd) and East African assets, we were notified during 2018 that the historic, and fully written off, holding in Rift
Resources Limited had been transferred into a 0.68% holding in Elephant Oil Limited, an oil exploration company who hold a c4,600 km2 licence on prospective ground in Benin. In 2021 we have been notified that Elephant Oil Limited is going through a fund-raising process leading to a listing on NASDAQ. As this process is ongoing, and there is no certainty of success, we have not revalued the investment balance in these financial statements, but note the potential for our holding to be revalued and become a liquid asset."

Note the recent tweet from Red Rock Resources which also has a stake in Elephant Oil:https://twitter.com/RRR_RedRock/status/1495740552096137221?s=20&t=RHjJOI6VYHS9mEFVI6cJmw

Kutzz, I think that's a pretty pessimistic view of things given what they said about the legacy assets and the fact that we should have an update about them in the next few weeks when the annual results are issued. This is what was said about them in the interims:
"Away from Cameroon and Senegal, we are pleased to see that our three key legacy assets are moving forward along development routes that will enhance their value. In Turkey, our partner on the Muratdere copper-gold porphyry project, in which we have a 1.2% royalty interest, has continued to advance the Environmental Impact Assessment that will dictate whether the project can move to mine construction. The project has an initial mine plan (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 U$700 million. We look forward to the successful completion of this key next stage, which we believe will significantly enhance the value of our residual holding, as it continues to de-risk the project.

The Turkish team has continued to operate as a cash generative consultancy business through the Period, whilst at the same time working with our partner Bati Totoslar on the drilling programme at the Hasançelebi gold project. As the results of this drill programme come through, the team will be working on the resource estimation work that is a first step towards a US$0.5 million success-based payment that will become due upon successful completion of an Environmental Impact Assessment. The Turkish team remain an important part of our efforts to unlock value from the legacy asset portfolio and we are confident of the eventual recovery of US$1.4 million of debts owed by our former Turkish partners NTF and Anadolu Export.

Elsewhere, we have seen positive moves in our trade investments in the former Thani Stratex joint venture, Thani Stratex Djibouti ('TSD'), which was unbundled at the end of 2019 to spin-out the Djibouti assets into a separate vehicle. The drill programmes in Djibouti have continued, with 687.80 m diamond drilling and 2,508 m RC drilling completed at the Assaleyta project during the Period. Best results to date include 16.00 m grading 1.08 g/t Au from 12.00 m and 5.00 m grading 8.97 g/t Au from 110.00 m including 1.00m grading 43.00 g/t Au, with further results anticipated in H2-2021 (announcement dated 1 July 2021). These results continue to confirm the potential of TSD's exploration assets, in which we have a 10.61% interest. Progress has also been made at Thani Stratex Resource's Egyptian assets, with the securing of a new earn-in partner (announcement dated 16 March 2021) who will be looking to further extend the 729,000 oz Au resources (JORC and non-JORC) already identified on the Hutite licence. We continue to hold 24.92%
in Thani Stratex Resources and look forward to the planned drill programme which is expected to start during H2 2021.
In addition to our Turkish an

Well Kutzz. I hate to say it but you were right about no news today and the session was largely about the recent presentation and addressing the value disconnect between where the various projects sit on the Lassonde curve and the current market cap. Next step is to build on the diamond drilling at Bibemi with RC drilling which will provide a greater volume of samples at lower cost.

They were also very bullish about the Central license package with its deep seated crustal structure and also potential for orogenic and epithermal deposits. It is very accessible by both road and air and therefore likely to be of interest to majors and mid tier miners. ORR efectively control the whole of this district as the other areas have protected status where mining would not be permitted. Results of stream sampling here should be available before the end of Q1.

In Senegal, they said that Fare South has stand alone mine potential but drilling with now move to the north of it with infill drilling and this should mean that the inferred and indicated resources in the existing JORC resource should move into the measured category.

They said that cash realisation on the non operated assets was ongoing and now anticipate that the Turkish court cases will be resolved by agreement rather than go all the way to court. They have also been 'renting out' the Turkish team to help develop the assets which have been farmed out.

I asked Coyote's question about forming a strategic alliance with a major or mid tier for the Central license package in Cameroon and TL said that was exactly the plan. Someone else asked about the the need to raise cash and the FD pointed out that the cash position would be apparent when the year end results are issued shortly (24th March last year).

Another question asked what near term catalysts might come into play and Bob Smeeton said that they had to remain flexible but if an offer came in for ORR's share of Senala they would have to look at it. Not sure if that was a subtle hint or not and I hope this summary helps.

Thanks Coyote, I’ll ask the question.
Kutzz, they have already issued an updated presentation 21st February, so there will not be another on Wednesday, and there simply has to be some corporate news to talk about imo. My hunch is that it is about the Turkish interests and maybe Egypt too, as they are shown at the top of the ‘readiness for exploitation pyramid’ (for want of a better term) in the updated presentation.

It’s a corporate update Kurtz, not an operational update, so it has to relate to the assets which have been farmed out or sold with uplift and royalty clauses imo or the Turkish court case. The only other possibility could be a deal relating to some of the licenses in Cameroon.

In the meantime buys have been significantly exceeding sells for the last four trading days without any uplift in the bid. Make of that what you will but it looks to me like the MM’s are just taking advantage of the weaker holders and will move it up sharply when the news emerges.

ORIOLE RESOURCES PLC
Corporate Update
2nd Mar 2022 at 4:00pm GMT

The title suggests to me that we are going to have some news about the assets which have been farmed out and/or the Turkish Court case. You will need to register with the Investor Meet platform if you wish to tune in.