Member Info for YankeeDoodler

Oldwasp, if AEGM are paying for the work, the ORR ownership % will reduce proportional to spend.

Currently ORR are at 34% ownership of Senala according to the RNS.

Ah, they haven’t actually signed anything yet. They’re just saying (again) that they’re in discussions on a JV.

This is just a reworking of the historical data to give an ‘Exploration Target’ number (what MIGHT be possible if further drilling is successful).

Oilnovice, so this is more dilution to ORR position at Senala then (if AEGM are paying for the work)?

ORR already had minority position, this will just weaken it further, but if they find anything they might buy out ORRs position (or just dilute them out)?

MTL already are the next GGP.

No idea why they would want ORR, when they’re already busy building a new mine complex in Nicaragua to supplement their operations in the Philippines.

Back to ORR, the AGM should be interesting. Perhaps they will finally release some news ahead if it.

Nobody should be looking at AI to get support for investment decisions…

The assets have potential, they always have had. Ever since the company first went in to Cameroon with Wapouze and Bibemi in 2018, and then expanded into the area they discovered in 2019 (Central Licenses).

Then Covid hit and destroyed the markets across the board.

Now they have funding. The asset base hasn’t changed, they need to deliver on what they have.

So more work at Bibemi and more work at Mbe and some work at the other projects.

Get busy and get delivering and the sp will respond.

What’s the trigger for the success payment?

I thought Bibemi was more likely to deliver something, as there’s already a resource there?

Golf57, it’s unusual for buyouts to be too high a premium, but 30% to 50% seems common.

That would put the sp around 0.3 to 0.4 I suppose? I would guess they would try to push the base price up a bit well ahead of any takeover talks? At current sp it would be an embarrassment and unlikely to make anyone much money for most investors, though the sp is higher now than at the time of the Chairmans significant investment a couple of years ago, so she would make money.

Unless of course they hit the motherload at Mbe

Strand being appointed as Nomad AND Broker, following the shift away from BlytheRay to a new IR/PR group, means ORR management have changed the 3 critical contracts which all AIM companies should have;

Broker (SPAngel previously)

Nomad (Grant Thornton previously)

IR/PR (BlytheRay previously)

They also recently closed their offices in Eastleigh and moved to Whitely.

They also appointed a Country Manager in Cameroon.

Is it a cost saving measure?

Are they trying to access a new audience of investors?

Do they feel new faces will bring more newsflow?

Recent images posted by ORR show only the CEO and CFO in Cameroon, no sight of the rest of the BoD or the Director of Exploration.

Obviously change afoot, though why, and whether it will bring any value is unknown.

Some RNS news showing exploration activity and associated results would be good.

As would some news on Senala, Turkish Royalty, Wapouze and the remainder of the license package which seems to have been abandoned.

Some actual exploration results would be good.

Hawaii, they’re hiring more senior staff? A new country manager?

Lootgaloot, I think it’s a combination of the lack of newsflow on the back of what should be a stellar couple of exploration programs. They’re well funded and the market is expecting some aggressive movement and some good news.

It does seem that they’re moving too slowly and results are not matching expectations.

Has it just turned into a lifestyle company?

I can understand people taking losses and looking elsewhere, I can also understand long term holders sitting tight.

I’m not sure what the answer is, but more newsflow and a significant increase in exploration activity is required.

Cekim, non of the management or board were in those photos of 'training' either

you need to have a long term visible presence to make these things work

It is disappointing that none of the management or board were attending the site visit by the government representatives - if only to support Abdoul, the Exploration Manager.

Beardozer, MTL was trading at around 1.0 when Livesey joined them.

Now trading at around 7.5

7x bagger and growing (as they’re now building another mine in Nicaragua).

The difference is that MTL have gold production, not just exploration. Easy to measure production and costs and work out the value potential if the company is a producer like MTL.

For an explorer like ORR, it’s all about the newsflow and the engagement with investors.

BOD and Management need to build trust with their investors until they have metrics to prove the value (like an increasing MRE at Bibemi or incoming funds from JV’s etc).

Thanks Cekim, always good for a laugh!

Let’s do an honest and unbiased recap here…

The company crashed in 2017 following the requisition.

Livesey took over a sinking ship with a decimated share price after the requisition of 2017, with no assets under management (Senala had been signed over to Iamgold, all the Turkish assets and East African assets were in minority positions).

The early shift to rebrand as Oriole was faster than they predicted. The move in to Cameroon brought some good early stage wins.

Expanding into Cameroon following the identification of a new gold area was under way and ORR delivered an MRE at Bibemi, first ever for Cameroon.

Then covid hit, slowing things up and hitting the markets.

Risk money moved into bitcoin and digital currencies.

SP and market cap were dire when Lanstead was signed, a ‘least worst’ option to keep the company alive. Management and Board took significantly reduced salaries during that time to ensure field teams had funds and wages.

The BCM deal was delivered in December 2023/January 2024, so must have been under discussion before then, but most likely not confirmed when Lanstead was signed. Otherwise why would they have signed Lanstead?

Since the BCM deal, cash came in to ORR accounts and the funding for Mbe and Bibemi was tied in for an earn-in JV.

So from early 2024 they’ve been set up for success.

They have historically had good comms when they have had newsflow, not sure why the shift to IFC, but that’s highlights the real issue - newsflow.

What they need is more exploration success and more advancement of the MRE at Bibemi. That’s what the markets looking for, success.

So they need to do more, and do it faster. They have the cash, they just have to deliver…

The key problem is news flow.

News flow comes from an aggressive exploration program.

Aggressive exploration programs require funding and a focused, experienced and capable team.

Cekim,

If it’s not moving on positive news, why would it move on Lanstead?

Not sure I understand your philosophy. Are you saying the only reason it’s not gaining momentum is that Lanstead regularly sell?

Others/existing investors sell into the news too don’t they?

Doesn’t it need good results to push the sp?

Kutzz, the grade at Bibemi is key and often overlooked.

If ORR can expand the MRE and maintain a grade of 2g/t, it’s a very positive sign.

Some big sellers out there still.

Not sure I share the excitement over Mbe, won’t move the needle until Bibemi is upgraded.