Member Info for YankeeDoodler

Is anybody planning to attend the Mellow event this week?

Buythose, do I sense a little frustration?

Have they closed the raise?

And did they get the £2m they were chasing?

Over the last 4 months the sp has been as low as 0.18 and as high as 0.47

There have been at least 4 significant buy/sell opportunities for those following the stock.

The trend continues back further than that, there are many days where opportunities for a 20% return present themselves for those actively following and trading.

DYOR.

Trade, and potentially make returns on a regular basis, or hold and pray that BoD will deliver a life changing uplift on sp.

I know what I prefer to do.

You can do what you like.

Oilnovice, that’s my point.

It’s a free ‘potential’

Godofhellfire,

If you can get the warrants for no cost (by participating in the raise and then selling the shares, keeping the warrants), you have some potential upside should the so ever rise to a significant level in the next 2 years (the life of the warrants).

So you have a free to purchase, and risk free to hold ‘potential’ sitting in those warrants.

No down side really.

With the current sp and today’s raise giving 1 for 1 warrants, I expect a flush of traders participating in the raise and then selling off very quickly, simply keeping the warrants ‘for free’.

Why wouldn’t you?

Mayo51, on the contrary, I am invested - I just buy low and sell high, so I make a profit. With this share it’s easy to do;

Buy in the low 0.20’s

Sell in the low 0.30’s

Repeat

That cycle is common to this share and if I can get a 50% uplift in my investment in the space of a few weeks, why wouldn’t I?

You should try it sometime. It’s the only way you’ll make profit at the moment.

This group is right on the money. Good team, good assets, focused on delivery.

Dividends and share growth, what’s not to enjoy?

Strong buy as they move in to new areas.

Fair enough Coyote2020, good luck with your investment future.

I’ll continue to trade and take profits.

Godofhellfire, those words on a page can be enough to prompt a sale - it all depends on how you put the words together and how much confidence the markets have in your ability to sell the sizzle.

Sadly there is no sizzle, there’s a pouring rain which is dampening everything.

Coyote2020, they started the process on Mbe back in 2018 or 2019 I think, when they applied for the licences and began exploration.

Drill testing is only one of many stages in identification of a resource. There are plenty of companies who have done the same, in the same timeline.

The issue here is that Cameroon had a bad reputation and nobody has been successful in building a mine in the recent past, so analysts and larger companies and investors are justifiably wary.

ORR has to prove it can be successful, and that means more than identifying a low grade inferred resource at Mbe.

Bibemi is higher grade, and when grade is important, perhaps that project should’ve getting more attention from the ORR team.

Bouncing from one shiny thing to the next, without progressing each target to fruition, is not doing them any favours.

Kutzz,

Just to add: 1m ounces at 1 gramme in an unknown/unproven jurisdiction, is tough to get excited about.

Bibemi had more promise perhaps, when they announced their maiden resource back in 2021/22 or whenever it was, got more attention as its over 2 grammes.

I’m disappointed to see the very slow progress on the resource at Bibemi, considering the time and cash they have had to push it forward.

Someone is asleep at the wheel perhaps, or simply doesn’t have the experience and skills to manage multiple programs in parallel.

Whatever the reason, they will hopefully push Bibemi ahead aggressively, before they run out of cash.

Kutzz,

Good analysis.

My concern is that they had $9.5m incoming from BCM last year, and they haven’t impacted the sp despite spending ALL of that. They were set up for success and have failed spectacularly to deliver.

Now they are trying to raise around $2m and expecting to deliver something impactful on their 100% ground, whilst still needing to match spending on Mbe and Bibemi to maintain their current position and not become minority. That ship has already sailed for Senegal, where they have zero control.

As you say, options are binary - sell up and cut losses (now or when the sp makes a minor rise on something unexpected), or sit and wait it out.

My question would be “what are we waiting for”?

Can they really reset the sp with only $2m in the bank and overheads of at least $1m on salaries?

The BoD (I’ve given up on management delivering anything) really need to pull a rabbit out of the hat - sale of Senegal/Wapiuze/Turkish Royalty. And/or a merger with someone else with decent ground and prospects?

Odd trading going on.

Why would anyone buy at 0.24 in the markets, when they could just join the WARP and get the shares for the same price, but with a full warrant for each share?

Perhaps this reflects the type of investor in ORR at present?

Godofhellfire, I have to agree.

They need cash to maintain their position in Mbe and Bibemi now that BCM have reached their full 50% commitment. Everything from now on is subject to a contribute or dilute situation. It’s the same with Senegal.

The only ground they have any control over is the remaining licences in the CLP - but they’ve done nothing to progress these forward, despite them having targets like Mbe on them.

Giving full warrants is also pretty desperate. I can’t remember when they last did a raise with full warrants.

I expect we will see a video later today? Or perhaps Monday? I’m not sure who is captaining the ship, but overall it seems a bit poor.

Goldgeezer, please explain the directors buys comment?

RNS refers to £200k being done by WRAP, and mentions a total % which includes directors buys, but no detail of how much or by whom.

Isn’t that notification required by RNS? They should say who and how much.

I wouldn’t get excited about the directors buys until they say who and how much. I don’t think it’ll be spectacular. More likely they will just give themselves free shares again at Christmas, for all the good work the have done.

They’ve really stepped up in the last year, great to see some value in the pipeline.

Sumit, they’re doing all the right things, on a great piece of ground. It’s just a waiting game now.

Dreamers.